As bond markets everywhere get battered by a cocktail of higher interest rates, deficit angst and hawkish central bankers, one class of debt instrument is handing creditors double-digit returns: catastrophe bonds. Investors in the $40 billion market for so-called cat …
Total global insured losses from natural catastrophes of more than $100 billion a year may be less newsworthy than in the past. In fact, the industry should expect loss totals of at least $100 billion every year, according to models …
HORSESHOE BEACH, Fla. (AP) — This remote seaside enclave known as “Florida’s Last Frontier” took much of the pounding from Hurricane Idalia when it struck the state`s west coast as a Category 3 storm last week. The damage left behind …
HONOLULU (AP) — Jan Pappas and Ronald Yasuda hired a contractor to fasten the roof of their 1960s-era home to their walls with metal plates and nails so high winds of a potential hurricane wouldn`t blow it away. Their motivation? …
A summer that has already seen water crises and wildfire smoke is rapidly becoming an inflection point in the pitched battle between climate change and the price of homeowners’ insurance in the US. American International Group Inc., which has already …
TOKYO (AP) _ Japan successfully launched a rocket Thursday carrying a government intelligence-gathering satellite on a mission to watch movements at military sites in North Korea and improve natural disaster response. The H2A rocket, launched by Mitsubishi Heavy Industries Ltd., …
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 …
ACAMPO, Calif. (AP) — On Sunday morning, Kyle Starks woke up to floodwaters that reached the door of his Jeep after yet another heavy rain storm drenched California. Emergency crews showed up with boats to float Starks and other residents …
DENVER (AP) — Costly weather disasters kept raining down on America last year, pounding the nation with 18 climate extremes that caused at least $1 billion in damage each, totaling more than $165 billion, federal climate scientists calculated Tuesday. Even …