The Atlantic’s warmer waters triggered the unusual number of major hurricanes last year, according to a new study that predicts the region could see a couple of extra whopper storms each year by the end of the century. Six major …
For senior financial executives at large U.S.-based companies with operations in Texas, Florida or Puerto Rico, last year’s hurricane season brought not only catastrophe to their communities, but a risk management wake-up call for 2018 and beyond. A survey of …
North America couldn’t catch a break in 2017. Parts of the United States were on fire, underwater or lashed by hurricane winds. Mexico shook with back-to-back earthquakes. The Caribbean got hit with a string of hurricanes. The rest of the …
In the year that President Donald Trump pulled out of the Paris accord and downplayed global warming as a security threat, the U.S. received a harsh reminder of the perils of the rise in the planet’s temperature: a destructive rash …
Preliminary sigma estimates for insured global losses resulting from natural and man-made disasters in 2017 are around $136 billion, well-above the annual average of the previous 10 years, and the third highest since sigma records began in 1970. Total economic …
House Republicans on Monday unveiled an $81 billion disaster aid package to help hurricane-ravaged communities and states hit by wildfires, almost double the amount requested by President Donald Trump. GOP leaders promised a vote this week on the measure, which …
The recent spate of natural disasters hitting the U.S. has left staff of the Federal Emergency Management Agency “tapped out” and the agency in an existential reckoning, FEMA‘s chief told a congressional panel. “It is time to question what is …
This year’s U.S. Atlantic hurricane season is officially the most expensive ever, racking up $202.6 billion in damages since the formal start on June 1. The costs tallied by disaster modelers Chuck Watson and Mark Johnson surpass anything they’ve seen …
After one of the worst Atlantic hurricane seasons in history, the world’s biggest insurers say the industry needs to get its act together if it wants to survive climate change. Insuring against weather natural disasters could reach unaffordable levels for …
A new report by Allianz Global Corporate & Specialty (AGCS) outlines how increasingly destructive storms and their extraordinary costs are becoming a “new normal” in the U.S. The average amount paid for extreme events, including windstorms, by insurers between 1980 …