catastrophe News

Munich Re Tool Allows Fast Post-Disaster Damage Assessments

Munich Re had teamed up with a unit of the National Insurance Crime Bureau to offer insurance carriers an analytics tool that can quickly assess property damage after natural catastrophes and speed up claims payments. Roman Buegler, head of Munich …

Congress Passes $19 Billion in Disaster Aid, Sends Bill to Trump

The House cleared a $19 billion disaster-aid plan for areas hit by hurricanes, Midwest floods and California wildfires on Monday after months of negotiations and a final delay of more than a week caused by Republican objections. The bill, passed …

Senate Passes $19.1 Billion Relief Package for Natural Disasters

The Senate passed a $19.1 billion disaster-aid plan Thursday for areas hit by hurricanes, Midwest floods and California wildfires after lawmakers resolved months of disagreement over funds for Puerto Rico. President Donald Trump said he supports the bill. The 85-8 …

Judge Approves $105M Fund for California Wildfire Survivors

Pacific Gas & Electric Corp. received approval Wednesday to establish a $105 million fund to help survivors of recent California wildfires started by the utility’s equipment. A federal judge overseeing PG&E’s bankruptcy case approved the utility’s wildfire assistance program to …

Insurers Oppose Premium Tax to Fund Washington’s Wildfire Prevention

Lobbyists for the property and casualty insurance industry are trying to prevent a $125 million increase in Washington state premium taxes that would fund wildfire prevention and suppression. The tax would affect home, auto and business insurance in an action …

Museum Recreates Katrina’s Muck in New Orleans

About the photo: Artist Aaron Angelo takes a sledgehammer to the leg of a baby grand piano in a house where two rooms are being transformed to look as they might have looked once floodwaters receded following Hurricane Katrina in …

Update: Claims Teams Begin Handling Onslaught of Harvey Cat Losses

Hurricane Harvey has set a U.S record, according to the National Weather Service, dumping 51.88 inches of rain in parts of Texas. As the tropical storm moves over southern Louisiana, claims catastrophe teams are moving in to devastated cities in …

Buffett Doesn’t Think Climate Change Causing More Disasters

Warren Buffett says the rate of disasters that Berkshire Hathaway’s insurance companies see hasn’t changed because of extreme weather. Buffett said on CNBC Monday that he hasn’t made any change in the way he calculates the likelihood of a catastrophe …

Seven Steps Can Help Nations Prepare for Disaster

Typhoon Haiyan, which killed more than 6,000 people in the Philippines last fall, reminded us how much suffering and damage nature can cause, and how important it is to invest in resilience and be ready to respond. As climate change …

Spate of Disasters Exposes Supply Chain Weakness

When flood waters rose in Thailand, Wal-Mart stores in Japan ran out of mouthwash. “We were out of mouthwash in Japan for about four days,” Scott Price, Wal-Mart’s Asia chief executive officer, said at the APEC business leaders’ summit. “A …