Mounting: California already faced an insurance crisis before the Los Angeles firestorm began. Now, a preliminary estimate from Morningstar DBRS points to insured losses from the fires in excess of $8 billion. And some scenarios could cost insurers more than $10 billion given the expensive properties at risk, according to Bloomberg Intelligence analysts. Read more from Bloomberg. A subscription may be required.
Buying up homes: In an effort to address public concerns that hedge funds or other big investors are buying up single-family homes and shrinking the housing supply for individual buyers and families, New York Gov. Kathy Hochul on Thursday said she will push for new laws to make it harder for hedge funds to purchase large numbers of single-family homes in the state. Read more from the Associated Press.
Logo lawsuit: German sportswear brand Puma has filed a lawsuit against Tiger Woods’ Sun Day Red over its logo, which bears a jumping large cat. The lawsuit comes less than six months after Baton Rouge-based Tigeraire filed a lawsuit against the company for its logo. Read more from Fast Company.
