Cyberattacks resulting in physical damage to property are rare but can result in coverage gaps, prompting some carriers to include property coverage clauses within cyberinsurance policies. Such coverage often tends to be subject to exclusions or sublimits in property or general liability policies, lawyer Joshua Gold said. Property damage and bodily injury are usually excluded from traditional cyberinsurance coverage, but coverage expectations have evolved as organizations rely more heavily on digitally connected assets, said Michelle Chia of Axa XL.

Jamaica's $150 million catastrophe bond, arranged by the World Bank, is expected to be fully triggered by Hurricane Melissa and provide crucial funds for the island country's disaster recovery, said Icosa Investments CEO Florian Steiger. The hurricane is the first Category 5 storm on record to hit Jamaica, with top sustained winds estimated at 185 mph. Chuck Watson of Enki Research estimates that losses in Jamaica will total $6.5 billion, down from a previous projection of up to $16 billion.

Hurricane Melissa caused severe destruction in Jamaica, where it made landfall as a Category 5 storm, and then struck Cuba as a Category 3 hurricane with maximum sustained winds of 120 mph at landfall. Melissa is the third-strongest Atlantic hurricane on record, and it also now shares the record for most powerful landfalling hurricane.

A truck driver charged in connection with a Florida crash that killed three people failed his commercial driver's license test in Washington state 10 times in a two-month period before eventually receiving his license, said a senior official in the Florida Attorney General's Office. Prosecutors are accusing the driver of unlawfully attempting to make a U-turn at the time of the crash, which occurred on Florida's Turnpike, and the Department of Homeland Security alleges that he entered the US without legal permission.

Workers' compensation claims for mental injuries present unique challenges due to their subjective nature, unlike physical injuries. States such as New York, Alaska and Wisconsin have expanded definitions of certain disorders to include stress-related conditions, reflecting a legislative trend toward expanding mental health coverage, although such efforts have seen mixed results recently.

Five vacation homes collapsed into the ocean on North Carolina's Outer Banks due to high waves produced by a storm. No one was in the homes when they collapsed. At least 27 Outer Banks homes have fallen into the surf since 2020.

The Federal Reserve is expected to cut its benchmark rate by 25 basis points today, bringing it to a range between 3.75% and 4%. Policymakers are moving to support the economy amid signs of a cooling labor market and subdued inflation, even as data gaps from delayed government reports cloud the outlook. The decision reflects a precautionary step to sustain growth and maintain confidence while leaving the door open for further adjustments if economic conditions weaken.

The Senate has failed for the 13th time to pass a bill to reopen the federal government, pushing the shutdown into its fourth week. The ongoing impasse is drawing increasing criticism from the largest federal worker union and continues to stall other legislative efforts. Supplemental Nutrition Assistance Program benefits are at risk of running out, prompting Sen. Josh Hawley, R-Ark., to propose a bill to fund the program.