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 …
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 …
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 …
SYDNEY —Elon Musk’s satellite venture has launched a free high-speed internet service to connect remote villages in Tonga that have been cut off since a devastating volcanic eruption and tsunami in January. Tonga’s prime minister, Siaosi Sovaleni, said in a …
LONDON–Climate change played a part in insured losses from natural catastrophes that totalled $130 billion globally in 2021, the fourth-highest on record, broker Aon said in a report on Tuesday. Economic losses–the combination of insured and uninsured losses–reached $343 billion, …
LONDON–Insured losses of $44 billion from COVID-19 so far represent the third largest cost to insurers of any catastrophe, behind Hurricane Katrina and the 9/11 attacks, insurance broker Howden said on Tuesday. However, initial projections of $100 billion-plus for COVID-19 …
Atmospheric rivers of the kind that drenched California and flooded British Columbia in recent weeks will become larger — and possibly more destructive — because of climate change, scientists said. Columns in the atmosphere hundreds of miles long carry water …
Hiscox has set aside $150 million to cover losses linked to Hurricane Ida and floods in Europe, the insurer said, above analysts’ expectations, while it reported strong premiums written this year thanks to rising rates. The Lloyd’s of London insurer …
US property insurers are exposed to $12.5 billion in non-physical cyber losses that are not expected and not priced by underwriters, according to a report released Tuesday. CyberCube, AM Best and Aon teamed up to calculate the “silent cyber” exposure …
BEIJING — Devastating summer floods in the populous province of Henan in central China are a wake-up call for local authorities to seek better insurance cover against natural disasters, potentially opening up a huge market for insurers in the country. …