natural disasters News

South Dakota Townships Face Financial Woes After 2019 Floods

SIOUX FALLS, S.D. — Townships in South Dakota are facing economic difficulties as 2019 flood repair costs mount. Townships primarily depend on their taxpayers for funds to repair more than 31,000 miles (50,000 kilometers) of roads while they wait for …

Vegas Newspaper Finds Trouble Tracking Casino Response Plans

LAS VEGAS — Nevada security officials had trouble tracking resort emergency response plans, months after the Legislature tightened requirements for 91 casinos statewide to update and maintain playbooks for incidents including active shooters and natural disasters, a newspaper reported. The …

Powerful Typhoons Scar Japanese Non-Life Insurers’ Earnings

A string of powerful typhoons that struck Japan has left scars on the country’s non-life insurers, with industry giants likely forced to pay a combined $8 billion in insurance payments in the current fiscal year that ends in March. Japan’s …

As Extreme Storms Wreck Power Grids, Japan Seeks Home Battery Networks

After recent typhoons ravaged Japan’s grid and disrupted power to almost 1.4 million customers, the government is encouraging homeowners to invest in storage systems, seeking to marry batteries with existing rooftop solar capacity to create backup electricity networks. The backbone …

FEMA Bought 44,000 Flood-Prone Homes and May Have to Buy Millions More

As the climate crisis worsens, more Americans will be forced from their homes. Many won’t be able to afford it, and the U.S. isn’t prepared for a massive, government-subsidized migration away from flood-prone areas, according to the first comprehensive analysis …

Cyber Risks to Exceed Natural Disasters for Insurers: Scor CEO

Cyber risks will soon become bigger risks than natural catastrophes for the insurance sector, Scor Chairman and Chief Executive Officer Denis Kessler said, recommending the industry build a comprehensive, common global scale to assess cyber-related incidents. “I dream of a …

NOAA Data Shows Weather Disasters Relatively Mild So Far this Year

It’s only April, and already the United States has experienced two climate disasters that each caused $1 billion in damages and together killed five people, the National Oceanic and Atmospheric Administration reported this week. NOAA’s National Centers for Environmental Information …

Incoming Governors More Likely to Face Natural Disasters

Governors have a wide range of priorities they want to tackle in the coming year, from tax reform to education. Yet it’s a topic that receives less attention on the campaign trail and in their speeches that could determine their …

How Real-Time Information Can Assist Insurers During Natural Disasters

At every phase of disaster preparation and recovery, time is of the essence. Today, social media platforms allow authorities to share critical updates with the public instantaneously and coordinate relief efforts. It also allows those in need to request assistance …

Opinion: Cat Bonds Soar Despite Record Disasters

Leave it to catastrophe bonds to be among the most well-functioning debt markets out there. Issuance of “cat bonds” has climbed to more than $11 billion this year, about the same as this time in 2017, when sales hit a …