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I love aha moments, I love moments like that when it’s a good and a beneficial aha cause it literally feels like your head is cracked open from the top and the ignorance leaves, while the new and more beneficial information falls into your brain.

There’s that kind and there’s the aha moments where you consciously fight new information but it bleeds through slowly, makes it’s way into your dreams and slowly takes you over like venom. I’m not to found of that one… but still great video

 

www.bloomberg.com

Mystery Over Abandoned Yacht Grows as Russian Tycoon Denies Link

The mystery surrounding who owns an abandoned 267-foot superyacht docked in Antigua and Barbuda deepened after lawyers for Russian billionaire Andrey Guryev said their client doesn’t own the vessel, and the government pushed ahead with plans to auction it off.
www.bloomberg.com www.bloomberg.com

Mystery Over Abandoned Yacht Grows as Russian Tycoon Denies Link​


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The mystery surrounding who owns an abandoned 267-foot superyacht docked in Antigua and Barbuda deepened after lawyers for Russian billionaire Andrey Guryev said their client doesn’t own the vessel, and the government pushed ahead with plans to auction it off.

The Caribbean nation claims the Alfa Nero — a luxury yacht that sleeps 12 and has an infinity pool that turns into a helipad — belongs to Guryev, an industrial tycoon who’s facing international sanctions. But Guryev’s lawyers in London said the vessel isn’t his.
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“As we have informed the Antiguan authorities Mr. Guryev neither owns nor controls the Alfa Nero and has simply used the vessel from time to time under commercial charter since 2014,” his legal representative wrote in reply to questions from Bloomberg.

Antigua Port Manager Darwin Telemaque on Tuesday said that if no one proves ownership of the Alfa Nero by March 31 he will be forced to put it up for auction.
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For “well over a year” the marina has been covering hefty fuel, electricity and food bills for the five-man crew, he said. The prime minister’s office considers the Alfa Nero an abandoned vessel and says it has run up a tab of more than $500,000.

Now the concern is that the ship will become derelict and obstruct traffic in Antigua’s busiest harbor, Telemaque said.

“Our yachting industry is our largest maritime source of revenue, larger even than the cruise business,” he said in a telephone interview. “And we have to take every step we can to protect that and not allow the vessel to become a burden to our country.”

Guryev, who is worth of $10.1 billion according to the Bloomberg Billionaire’s Index, is the founder and largest shareholder of PhosAgro, one of Europe’s most dominant fertilizer companies.

He’s been sanctioned by the US, UK and the EU over his Kremlin ties amid the Russia-Ukraine war. Responding to a US request, Antiguan authorities last year searched the vessel, allowing the FBI to observe the operation.
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It keeps getting worse: Florida property insurance rates set to jump up to 60%​


https://www.wftv.com/news/local/it-...es-set-jump-up-60/H2VSAYGFSNEBDGXAMFIESJP4B4/

TALLAHASSEE, Fla. — In December, as state lawmakers returned for their second special session in less than a year to deal with property insurance, the analogies for the state of the market for some reason all reverted to medical.

“We’re just trying to triage,” said Senator Linda Stewart. “Just trying to stop the bleeding,” said Representative Fred Hawkins.

Now months later, as things have continued to deteriorate, the medical analogies have returned.
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“It’s now at stage four,” says former State Senator Jeff Brandes. “It’s going to take 18 to 24 months for things to start to stabilize, and in the meantime, it is going to get much worse.”

This week, the state-backed Citizen’s Property Insurance voted to move forward on a 14.2% rate increase for its 1.2 million policies. The rate request is above the statutory guidelines of 12%, indicating the pressure on the state-backed carrier.

Under former Governor Rick Scott, Florida paid insurance companies to take policies off the books from Citizens to help stabilize the market and reduce exposure for the state-backed insurance carrier of last resort. Florida could start to do the same thing now; however, Governor Ron DeSantis and the legislature have not indicated that is something they are considering right now.
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Meanwhile, private carriers have gone before the Florida Office of Insurance Regulation requesting rate increases up to 60%.

“The containment system has failed on rates, and rates are going through the roof, and they are all justified rate increases, especially Hurricane Ian and what is going on in the reinsurance space,” says Brandes.

Reinsurance, the insurance that insurance carriers buy to protect themselves from high claims, has been a major concern for years, with carriers going into receivership as they struggle with costs.
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In May, the Florida Legislature set aside $2 billion to help cover reinsurance, adding another $1 billion in December. The state has also passed several laws to limit the ability of homeowners to sue for claims while also curtailing the assignment of benefits and one-way attorney’s fees. The plan from state leaders was to create an environment where large private carriers, who have all but abandoned the state, would return.

That has not happened.

“I don’t think you’re going to see any new capital into the market until after hurricane season,” says Brandes.

Despite the rising rates, there is a level of optimism that things could level out in 2024. Experts, including former senator Brandes, say the moves taken by the state in 2022 should help stop the massive price hikes, although admitting it is unlikely prices will ever decrease.
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