Core Insights - The lack of insurance coverage in Southeast Asia poses a significant threat to the region, which is becoming increasingly vital for global supply chains due to natural disasters like tropical storms and flooding [1] Group 1: Insurance Coverage and Economic Impact - Total losses from natural disasters in the Asia-Pacific region reached $73 billion last year, with only $9 billion insured, highlighting Asia as one of the least insured regions globally [2] - In many lower-income countries in Asia, such as Myanmar, Laos, Cambodia, and the Philippines, insurance coverage can be less than 5% [3] - The inadequate insurance coverage in Southeast Asia increases the risk of economic shocks that can affect neighboring countries, as the region is a crucial hub for agriculture and manufacturing, producing 30% of the world's rice and over 80% of its palm oil [4] Group 2: Challenges in Insurance Market - The lack of reliable climate data in Asia complicates risk assessment for insurers, making it difficult for them to price risks and enter the market [4] - Governments often perceive insurance as a waste of public funds, as it provides intangible benefits without immediate returns unless a payout occurs [4] - The impact of climate disasters on farmers leads to reduced yields and crop failures, which further strains logistics and supply chains, damaging infrastructure and delaying shipments [5] Group 3: Socioeconomic Consequences - Vulnerable populations without insurance face severe consequences, including loss of property and infrastructure, which can lead to broader socioeconomic issues [5] - Disaster losses can result in consumption losses, forcing families to make difficult choices, such as withdrawing children from school or selling assets to survive [6]

As 2025 winds down, here are some moves to help you finish the year strong financially. Morningstar’s director of personal finance and retirement planning, Christine Benz, discusses strategies. This interview has been edited for length and clarity. Benefits of Rebalancing Your Portfolio Q: What are the benefits of portfolio rebalancing, and who most needs to do it? A: The main benefit of rebalancing is risk reduction. You trim securities that have performed really well, presumably ones with higher valua ...

Tonight, Hurricane Aaron heading closer to the east coast with winds of up to 110 mph. Parts of North Carolina already feeling Aaron's surge. The eye of the storm seen from space. Dangerous life-threatening surf and rip currents forcing beaches to close along the eastern seabboard for days. Tropical storm warnings from North Carolina all the way to Virginia. Also breaking tonight, no sign of peace as the bombing continues in Gaza. Israel calling up to 60,000 reservists. The new plan to take over Gaza City. ...

Home Insurance & Cost - Mold remediation may cost thousands of dollars if insurance doesn't cover it [1] Energy Efficiency - Leaving AC on while away from home needs consideration for its smartness [1]

Risk Assessment & Screening - A risk assessment test score above 20% indicates the need for more proactive screening beyond annual tests [1][2] - The lifetime risk for women in America is 13%, prompting proactive measures when exceeding 20% [2] - Supplemental screening includes breast MRI, mammogram, and ultrasound, ideally conducted every six months for surveillance [2] Financial & Resource Constraints - Insurance companies may deny coverage for supplemental screening, leading to out-of-pocket expenses [2] - Lack of resources can prevent individuals from accessing necessary, but potentially expensive, screening tests [3] Alternative Screening Access - Breast surgeons, specializing in breast care, often conduct screening programs for at-risk patients [3] - Breast surgeons may be more successful in obtaining insurance coverage for tests through aggressive appeals [3][4]

Core Insights - Homeowners insurance policies often do not cover certain natural disasters such as floods and earthquakes, which require separate insurance policies for adequate protection [3][4] - Understanding the limitations of homeowners insurance can help policyholders take necessary precautions and avoid unexpected costs after a disaster [2][4] Coverage Limitations - Flooding: Standard homeowners insurance typically excludes coverage for flooding from rivers, coastal storm surges, or surface water. Separate flood insurance is recommended [4] - Earthquakes and Land Movement: Damage from earthquakes, landslides, and mudslides is generally not covered, necessitating separate earthquake insurance [4] - Neglect and Maintenance: Damage resulting from homeowner neglect, such as mold from prolonged leakage, is usually not covered [4] - Animal Damage: Damage caused by pests or household pets is rarely covered, although liability for dog bites may be included under certain conditions [4] - Detached Structures: Structures on the property used for business or rented out may not be covered under standard homeowners policies [4] - Home-Based Businesses: Homeowners insurance typically does not cover home-based businesses, requiring additional endorsements or separate business insurance [4] Company Overview - Mercury Insurance is a multiple-line insurance carrier offering personal auto, homeowners, and renters insurance across several states [6][7] - The company has been operational since 1962 and is recognized for competitive rates and excellent customer service [7] - Mercury Insurance has received an "A" rating from A.M. Best and accolades for its auto insurance offerings from Forbes and Insure.com [7]