extreme weather events News

African Risk Capacity (ARC) Payouts to Exceed $25 Million

The African Union’s African Risk Capacity’s affiliated mutual insurance company, ARC Ltd, is set to make claim payouts of more than $25 million to three of its member states belonging to its catastrophe insurance pool, which was recently established to …

ABI Launches Campaign for ‘Flood Free’ Homes

the Association of British Insurers announced that it has launched a campaign for Flood Free Homes, “supported by Friends of the Earth, Know Your Flood Risk, National Flood Forum, and the Property Care Association’s Flood Protection Group.” The ABI said …

Climate Change Report: Philippines Hardest Hit by Extreme Weather in 2013

The Philippines, Cambodia and India were the countries hardest hit by extreme weather events in 2013, according to a study unveiled on Tuesday at U.N. talks in Lima on a global deal to limit climate change. The report by Germanwatch, …

Rural Communities Struggle to Compete With Cities for Coastal Protection Funds

The town of Saxis on Chesapeake Bay in Virginia is losing three to five feet (1 to 1.5 meters) of shoreline a year and suffered damage during hurricane Sandy. But like hundreds of rural communities along the coast, it is …

S&P Report Finds Companies Are Starting To Assess Climate Risks

A report – “Dealing With Disaster: How Companies Are Starting To Assess Their Climate Event Risks” – from Standard & Poor’s London office points out that the “increasing frequency of extreme weather events such as flooding, intense storms, heat waves, …

In Connecticut, Sea Level Predictions Prompt New Awareness in Communities

In Connecticut, the global issue of climate change is being confronted locally. The Day of New London reports that in Old Saybrook, a municipal panel met for the first time last week to consider how to help the low-lying coastal …

Lloyd’s Report Says Climate Change Should Be a Constant Consideration

“Climate change is real and we need to factor it into all future catastrophe modelling” – that’s the conclusion of a new report published today by Lloyd’s. The report: ‘Catastrophe Modelling and Climate Change’, states that “with the existence of …

308 Disaster Events; $140 Billion Economic Losses in 2013: Swiss Re Report

Swiss Re’s latest sigma report highlights the 308 disaster events in 2013, of which 150 were natural catastrophes and 158 man-made. Almost 26 000 people lost their lives or went missing in the disasters. The biggest “humanitarian catastrophe” was typhoon …

Commentary: Have We Learned the Right Lessons From Sandy?

One year ago, Hurricane Sandy slammed into the New York and New Jersey coasts. As a result, 43 people died, lower Manhattan was dark for days, and seven hospitals had to be evacuated.In New York and New Jersey, 650,000 houses …

Allianz: A Year After Sandy, Many Firms Still Haven’t Implemented Adequate Changes

As the one-year anniversary of Superstorm Sandy approaches in late October, Allianz Group’s specialist corporate insurer, Allianz Global Corporate & Specialty (AGCS), warns that while there is heightened awareness, many businesses have not yet implemented adequate changes. Allianz said many …