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“The Roundup” is Origami Risk’s weekly bulletin of headlines and resources impacting risk, compliance, safety, P&C insurance, and healthcare.

Mon, Aug 1 | Top US Regulator Tells Banks to Police Crypto Companies Over Misleading Deposit Insurance Claims 

The Federal Deposit Insurance Corporation (FDIC) is telling banks to keep an eye on crypto companies and any potential deceptive deposit insurance claims. (continue reading) 

Tues, Aug 2 | Surge in Gas Prices Won’t Curb Rising Auto Claims Costs 

Elevated prices for replacement parts and a shortage of technicians are among the factors that will likely offset any decrease in auto claim frequency caused by the surge in gasoline prices, according to a report released Monday by CCC Intelligent Solutions. (continue reading) 

Thurs, Aug 4 | NSC Partners with Nonprofit to Help Reduce Workplace Injuries with Technology 

The Florida Office of Insurance Regulations (OIR) is setting up a temporary reinsurance arrangement through Citizens Property Insurance Corp. The arrangement is being established to mitigate disruptions from potential Demotech rating downgrades, which could make impacted insurance companies fall short of rating requirements set by Fannie Mae and Freddie Mac. (continue reading) 

Thurs, Aug 4 | 5 things an attorney would tell your clients about insurance 

As insurance agents, you deal with prospects who either understand the need for coverage or who underestimate it. People who understand the need for insurance call you, looking for rates. Here are five things that I, an attorney who specializes in personal injuries, would say to your clients. (continue reading

Thurs, Aug 4 | CA Court finds direct physical loss or damage adequately caused by presence of COVID-19 

The California Court of Appeal has reversed the trial court’s granting of demurrer and found that an insured adequately pled a claim of direct physical loss or damage due to the presence of the COVID-19 virus on an insured property. (continue reading) 

Thurs, Aug 4  | Hundreds reportedly laid off as GEICO closes California offices 

All 38 California GEICO offices have been shuttered and phone sales in the state have halted. According to a statement provided to the Sacramento Bee, hundreds of employees have been laid off as a result. (continue reading

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