August 2014

A Provisional Winner of an Offshore Wind Lease is Announced and that Means the Goal Line is Still Far Off

August 24, 2014 20:23
by J. Wylie Donald
Offshore wind took another small step forward last week when US Wind was announced as the provisional winner of the US Bureau of Ocean Energy Management's August 19 auction of development rights to nearly 80,000 acres off of Maryland.  The price?  $8.7 million. According to the BOEM press release, and other reports the few million to be ponied up by US Wind (or by its Italian parents, Renexia and Toto S.p.A.) is more than was bid for offshore leases in Virginia and Massachusetts and apparently is justified by the substantial financial carrot established by the O'Malley administratio...

Regulation | Renewable Energy | Wind Energy

Super Models Are Looking Better Than Ever - What Does That Mean For Insureds?

August 20, 2014 20:19
by J. Wylie Donald
A recent article in August’s Best’s Review, The Rise of the Super Models, by Kate Smith (not Kate Upton, sorry), caught our eye.  A lot is going on in the world of computer catastrophe modeling.  First, demand by insurers and reinsurers is up and modeling firms are “broadening the scope of risks and regions that they model, with RMS, AIR Worldwide and CoreLogic EQECAT all set to release new models this year.”  Among other things, all of the top 3 modeling firms are releasing U.S. inland flood models.  This blog has been hard on FEMA and the Corps of ...

Climate Change Effects | Flood Insurance | Insurance

McCARTER & ENGLISH CLIMATE CHANGE AND RENEWABLE ENERGY PRACTICE GROUP

The business case for the development of renewable energy projects, from biodiesel and ethanol to wind, solar, and distributed generation, is more compelling than ever as tax and regulatory incentives combine to attract investments. Emerging issues in environmental law and increasingly recognized principles of corporate social responsibility are encouraging public companies to voluntarily reduce greenhouse gas emissions, install clean energy alternatives, and invest overseas in projects under the Kyoto Protocol to respond to climate change concerns.

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