Usher’s News & Analysis for July 30, 2020

I’m going to start out with something fun. Gracyn French is only 11. She’s fantastic.

“Money fuels my engine,” he says. “Call it soil health, conservation, sustainable, regenerative, or any other buzzword of the day—frankly, I don’t care. My savings have been incredible and I just call my farming what it is: survival and profitability.”

A Skeptical Farmer’s Monster Message on Profitability

This is going to be ugly for landlords too.

How the eviction crisis across the U.S. will look

“This is permanent demand destruction.”

End game for oil? OPEC prepares for an age of dwindling demand

A UK hearing and a trial in Spain suggest it’s not Assange who should be facing prosecution

This is NIMBY on steroids. He’s saying, to hell with the poor.

“I am happy to inform all of the people living their Suburban Lifestyle Dream that you will no longer be bothered or financially hurt by having low-income housing built in your neighborhood.” ~ Donald John Trump

In the statement of charges announced, the Department alleges that a vulnerability in First American’s information systems resulted in exposure of consumers’ sensitive personal information over the course of several years, and First American failed to remedy the exposure promptly after it was discovered in December 2018.

In response, First American tells Security magazine, “First American strongly disagrees with the New York Department of Financial Services’ charges relating to a limited cybersecurity incident from May 2019. As we reported in July 2019, our investigation into the incident, conducted with an outside forensics firm, identified a very limited number of consumers whose non-public personal information likely was accessed without authorization and otherwise found no evidence of misuse of any non-public personal information. None of these identified consumers were New York residents. In March, the Nebraska Department of Insurance, the primary regulator of our title insurance company, led an examination of First American’s information security program as of June 30, 2019 and our response to the information security incident. The resulting report concluded that our ‘IT general controls environment is suitably designed and is operating effectively,’ that we ‘adequately and appropriately detected, analyzed, contained, eradicated and recovered from the security incident’ and that we are in compliance with New York’s cybersecurity requirements for financial services companies.

Is their cyber-insurance company running their legal response?

New York DFS charges title insurer with cybersecurity violation

Suspected Drunken Driver Lands Inside Apartment in Grand Forks, N.D.

Being allowed to create and sell insurance is a privilege. The basis of insurance is sharing the burden/pooling the risk. If the private sector won’t do it, then the public sector will have to.

The insurance industry is arguing for granularity by keeping credit scores as part of the underwriting. However, to be truly granular while being fair might require demonstrating the difference between those with low credit scores through no fault of their own versus those who took known risks and clearly and unreasonably gambled with their credit rating.

Commissioner Kreidler is correct that insurance consumers of health, life, and personal lines products shouldn’t be penalized for things that were beyond their reasonable control and that the insurance market should share the burden (if we are to keep a mixed economy).

Credit Scoring Battle Brewing Between Washington Commissioner and Insurer Groups

Krystal Ball: Dems Offer PATHETIC Plan As Millions Face Homelessness

Casual Kim Talks: Censorship and The Thought Police

Follow the money, Kim.