With the start of hurricane season less than a month away, U.S. officials who predict, prepare for and respond to natural disasters had a message for Floridians on Friday: It’s not a matter of if a hurricane will hit, but …
Global natural catastrophes cost insurers $17 billion during the first quarter of 2024 with economic losses rising above $45 billion, according to Aon’s Q1 Global Catastrophe Recap – April 2024. Q1 natural disaster losses were driven by severe convective and …
A new USI Insurance Services report forecasts that in 2024, commercial property insurance rates “are expected to increase, but not at the same pace as seen in 2023.” “Our forecast calls for 5% to 15% rate increases for non-catastrophe property …
Earthquakes in Turkey and Syria, storms in the United States and other natural disasters caused an estimated $95 billion in insured losses in 2023, down from the previous year but still above the long-term average, Munich Re said on Tuesday. …
The need for comprehensive disaster risk management has never been more evident. In recent years, major storms, earthquakes, wildfires, tornados, derechos, and other destructive large-scale events have been significant. According to National Oceanic and Atmospheric Administration (NOAA), there has already …
The United States is Earth’s punching bag for nasty weather. Blame geography for the U.S. getting hit by stronger, costlier, more varied and frequent extreme weather than anywhere on the planet, several experts said. Two oceans, the Gulf of Mexico, …
Natural disasters, many driven by climate change, caused global economic losses of $313 billion in 2022, insurance broker Aon estimated on Wednesday, of which less than half was insured. Losses from natural catastrophes covered by the insurance sector amounted to …
When it comes to climate impacts, the frontline of the finance industry is insurance. Last year’s payout from damages caused by extreme-weather events totaled $120 billion—about the same as the economic output of Kenya. And that’s a 50% increase over …
A disaster-weary globe will be hit harder in the coming years by even more catastrophes colliding in an interconnected world, a United Nations report issued Monday says. If current trends continue the world will go from around 400 disasters per …
The newest member of Farmers Insurance Group’s catastrophe response team is a four-legged robot that vaguely resembles a headless greyhound. Farmers announced that it purchased a remote-controlled robot dubbed “Spot” from Boston Dynamics and expects delivery this fall, after the …