catastrophe News

Unusual Battle of Climatic Titans Will Steer Hurricane Season

Two clashing climatic behemoths, one natural and one with human fingerprints, will square off this summer to determine how quiet or chaotic the Atlantic hurricane season will be. An El Nino is brewing and the natural weather event dramatically dampens …

Chile Wildfires Spread amid Heat Wave as Death Toll Rises

SANTIAGO, Chile (AP) — Chile extended an emergency declaration to yet another region on Saturday as firefighters struggled to control dozens of raging wildfires that have claimed at least 22 lives amid a scorching heat wave that has broken records. …

New Abnormal: Climate Disaster Damage ‘Down’ to $268 Billion

This past year has seen a horrific flood that submerged one-third of Pakistan, one of the three costliest U.S. hurricanes on record, devastating droughts in Europe and China, a drought-triggered famine in Africa and deadly heat waves all over. Yet …

Swiss Re: Natural Disasters Cost Insurers $115 Billion this Year

Hurricane Ian and other natural catastrophes, such as European winter storms, floods in Australia and hailstorms in France and the U.S., have cost insurers an estimated $115 billion so far this year, according to a report published by Swiss Re …

Viewpoint: Ranking Hurricane Ian Among the Ten Worst Natural Disasters in US History

We are in the early stages of sifting through the debris of Hurricane Ian and calculating the financial and human toll it took after coming ashore in Southwest Florida with 150 mph winds and 20 inches of rain. The insured …

In Ian’s Wake, Florida Residents Endure Slow Wait for Power

BONITA SPRINGS, Fla. (AP) — Nearly a week after Hurricane Ian smashed into Florida and carved a path of destruction into the Carolinas, hundreds of thousands of people faced another warm day without electricity Tuesday as rescuers pressed on with …

Low Rate of Flood Insurance Cover Spells Danger as Climate Crisis Deepens

Insured losses from floods doubled to $80 billion globally during 2011-2020 compared to the previous decade, while insurance penetration lingered at just 18%, according to Swiss Re Institute’s economic insights report focused on floods. Climate change has led to an …

Kentucky Flooding Death Toll Rises to 15 and Is Expected to Grow

Kentucky’s death toll from record flooding has risen to 16 people and many more are missing as incessant rain inundates homes, washes away roads and forces residents to seek shelter on rooftops. “We have 16 confirmed fatalities, and folks that …

On Eve of Solstice, Insurers Projecting Gloom

The summer solstice, which begins Tuesday, has historically been a cause of celebration for cultures throughout the Northern Hemisphere. But various catastrophe projections released in recent weeks are making the insurance industry’s midsummer night’s dream look like a nightmare. Analysts …

APCIA: Inflation Outpacing Premium Increases for Auto and Homeowners Lines

US Insurers — already hammered by extraordinary losses caused by natural disasters — are also failing to raise premiums at a pace that matches an historic inflation rate, the American Property Casualty Insurance Association said Friday. APCIA said private property …