natural disasters News

Japan Launches Intel Satellite to Watch N. Korea, Disasters

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 Caused $313B Economic Loss in 2022 – Aon

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 …

Climate Disasters Forcing Insurers to Rethink Low Premiums, Few Claims Model

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 …

In Soaked California, Few Homeowners Have Flood Insurance

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 …

NOAA: Ian, Drought Supercharged US Weather Extremes in 2022

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 …

Insured Losses Hit $120 Billion as Extreme Weather Spreads

The insurance industry is struggling to adapt to a new normal in which losses fueled by climate change are now regularly exceeding $100 billion a year. Insured losses from natural disasters hit about $120 billion in 2022, most of which …

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 …

Public Safety Accounts Urge Caution on Twitter After Changes

As Twitter became knotted with parody accounts and turmoil, Rachel Terlep, who runs an account for the Washington State Department of Natural Resources that intersperses cheeky banter with wildfire and weather warnings, watched with equal parts trepidation and fascination. “It …

Insurance Fund for Climate Impacts Announced at UN Talks

SHARM EL-SHEIKH, Egypt (AP) — The Group of Seven leading economies launched a new insurance system Monday to provide swift financial aid when nations are hit by devastating effects of climate change. The so-called Global Shield is backed by the …