flood News

PERILS Discloses Final Loss Estimate for UK Storm Desmond of £604M

PERILS AG has today disclosed its fourth and final loss estimate for the floods in the UK which occurred Dec. 4-24, 2015 and were linked to storm Desmond and other low pressure systems. The revised estimate of the insured property …

Disaster Declared for Kansas Counties Hit by Storm

President Barack Obama has signed a disaster declaration for 11 Kansas counties hit hard by last month’s severe storms and flooding. The declaration means federal funding is now available for state and eligible local government and some nonprofit organizations. The …

Louisiana Governor’s Latest Federal Flood Request Aid Upped to $4B

Gov. John Bel Edwards bumped up his request to more than $4 billion for federal flood disaster aid to repair south Louisiana’s flood destruction, according to a letter to the White House released Friday. The Democratic governor’s earlier request totaled …

Louisiana to Get $437M in Flood Recovery Assistance Allocated by Congress

Sen. Bill Cassidy says Louisiana will get $437 million of the $500 million in flood recovery assistance allocated by Congress. Congress approved the $500 million in flood recovery assistance as part of a hybrid spending measure passed in September. But …

Those Affected by Louisiana Flooding Continue to Get Federal Support

Federal agencies, state and local governments continue to support and assist those affected by flooding in Louisiana. Since President Obama’s major disaster declaration to 20 parishes in south Louisiana, the Federal Emergency Management Agency says more than 128,000 households have …

Caribbean Cat Facility, CCRIF, Pays Belize for Excess Rain From Hurricane Earl 

CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) made a pay-out of US$261,073 to the government of Belize as a result of heavy rains from Hurricane Earl on Aug. 4-5. Rainfall from the hurricane caused widespread flood damage to homes and …

RMS Releases Suite of Europe Inland Flood Risk Data to Open U/W Opportunities

RMS, the Newark, Calif.-based catastrophe risk management firm, has released a suite of Europe inland flood hazard data products. Describing the release as “the highest resolution view of the risk available on the market,” RMS said the data products include …

XL Estimates Q2 Cats to Cost $240M, Led by Alberta Wildfires

XL Group Plc, the insurer that expanded last year with the purchase of Catlin Group Ltd., said second-quarter catastrophe costs were probably about $240 million pretax, with wildfires in Alberta, Canada, responsible for about half the total. Flooding in Europe …

Storms & Earthquakes Drive Up Insured Losses in 1H 2016: Munich Re

Economic losses caused by natural catastrophes in the first half of 2016 totaled US$70 billion, a significant increase from the $59 billion reported for the first half of last year, according to a loss review issued by Munich Re. While …

China Floods Kill 173, Cut Transportation Links; Hit to Economy Expected

Weeks of torrential rain across central and southern China have caused the country’s worst flooding since 1998, killing 173 people, ruining farms and cutting major transportation arteries — and creating potential headwinds to economy growth. A swollen Yangtze and other …