Extreme Weather News

Extreme Weather, Cyber Risks Top Concerns When Insuring Farms

As risks from extreme weather, technology glitches and cyberattacks rise, so does the need for agricultural insurance that can cover a rapidly diversifying and evolving industry. “With the interest rates, production expenses, and cost of diesel constantly on the rise, …

Londoners Unprepared for ‘Lethal’ Climate Risks, Report Says

London isn’t ready to deal with climate risks including flooding and overheating, according to an independent review of government measures. An interim report commissioned by the city’s mayor concluded that the British capital isn’t adapting quickly enough to mounting risks …

Natural Disasters Led to $250B in Global Losses Last Year

Extreme storms and other natural disasters cost the world about $250 billion of losses last year, with less than half that amount actually covered by insurers, according to data compiled by Munich Re. The bill exceeds the 10-year average, and …

Storm Hitting Chinese Ports is a Wakeup Call for Climate Risk to Markets

DUBAI —As Typhoon Doksuri aimed toward mainland China, major southeast ports were forced to turn away dozens of vessels for days. The storm, supercharged by the warm July waters of the Pacific, delivered Beijing’s worst flooding in more than 50 …

Extreme Weather Can Hit Farmers Hard. Those With Smaller Farming Operations Often Pay the Price

MAYFIELD, Ky. (AP) — Justin Ralph estimates he`s made about 200 trips delivering grain from the fields he farms with his brother and uncle this year. They`re accustomed to using their four semi-trucks to take the harvest from a total …

Some Houses Are Being Built to Stand Up to Hurricanes and Sharply Cut Emissions, Too

When Hurricane Michael hit the Florida Panhandle five years ago, it left boats, cars and trucks piled up to the windows of Bonny Paulson`s home in the tiny coastal community of Mexico Beach, Florida, even though the house rests on …

Catastrophe Bond Market Defies Global Selloff With Record Returns

As bond markets everywhere get battered by a cocktail of higher interest rates, deficit angst and hawkish central bankers, one class of debt instrument is handing creditors double-digit returns: catastrophe bonds. Investors in the $40 billion market for so-called cat …

Global Economic Losses from Extreme Weather Could Hit $5 Trillion – Lloyd’s

Global economic losses could reach $5 trillion under a “plausible increase” in extreme weather events linked to climate change that cause crop failures and food and water shortages, insurance marketplace Lloyd’s of London said on Wednesday. Lloyd’s, which carried out …

Climate Change Is Causing an Insurance Crisis in Louisiana

A little over a year ago, Peter Gardner, a Louisiana developer, completed rehabbing an apartment building with 144 units and got a surprise so ugly it made him decide to move his business out of town. When the project began, …

Hurricane Idalia Intensifies as It Churns Toward Florida

Hurricane Idalia is gathering force in advance of a landfall on Florida’s west coast, where it could drive a deadly wall of water into the shoreline, snap trees and cause widespread power outages. Idalia’s winds topped 85 miles (137 kilometers) …