Floods News

Typhoon Goni Makes Landfall on Japan, Causing Injuries, Evacuations

Typhoon Goni made landfall on Japan’s southernmost main island of Kyushu, causing injuries and prompting evacuation orders. Cancellations of airline and train service affected thousands of people. Goni, which had been the strength of a category 3 hurricane, came ashore in …

A.M. Best: Sanctions Removal to Attract Re/Insurers to Iranian Market

The lifting of trade restrictions placed on Iran may present significant opportunities for the Middle East and North African (MENA) re/insurance market, with European participants also expected to re-engage and seek a foothold in the country, according to research published …

Typhoon Soudelor Kills at Least 9 in China After Lashing Taiwan, Killing 5

At least nine people were killed in China’s eastern Zhejiang province as the remnants of Typhoon Soudelor dumped the heaviest rainfall in a century on the mainland after killing five in Taiwan. About 645 millimeters (25 inches) of rain fell on Zhejiang’s …

Global Insured Cat Losses in First Half Are Below Long-Term Average: Munich Re

Overall losses and insured losses from natural catastrophes during the first half of 2015 were below long-term average values, according to a review of global natural catastrophes issued by Munich Re. Total natural catastrophe losses incurred in the first half …

UK Insurers to Stress Test Capital Reserves Against Synchronized Terrorist Attack

UK regulators have asked property and casualty insurers to stress test their capital reserves against catastrophes, including a synchronized terrorist attack in London, New York and one other major city. The Prudential Regulation Authority (PRA) published the exercises last week …

Storm Brewing Over Yucatan Peninsula Threatens Texas and Louisiana

The Atlantic’s second storm of the year may be developing over the Yucatan Peninsula, with the potential to reach Texas and Louisiana and flood Houston for the second time in a month. Thunderstorms moving northwest from the Yucatan along the …

Investors Must Factor Climate Change in Their Portfolio Risk: Mercer Study

Most investors need to make a significant behavioral shift and start factoring climate change into their portfolio risk management, a study on its impact on financial market returns found. Government officials are meeting in Germany this month to work on …

El Niño Strengthens as Pacific Temperatures Show Same Trend as ’97-’98

The El Niño taking hold across the Pacific strengthened, according to Australia’s Bureau of Meteorology, citing indexes of sea-surfaces temperatures that showed the same trend for the first time since the event in 1997-1998. All five NINO indexes, averaged over the past …

Aon Benfield Launches Canada Flood Model to Help Manage Exposures

Impact Forecasting, Aon Benfield’s catastrophe model development team, has developed a fully probabilistic flood model for Canada to help insurers and reinsurers better underwrite and manage their riverine and off-flood plain exposures. The model was developed in response to devastating …

El Nino Emerges; Asia-Pacific Region Faces Months of Disruptive Weather

In 2009, the El Nino brought the worst drought in four decades to India. It razed wheat fields in Australia and damaged crops across Asia. Food prices surged. A closely watched forecast by Japan on Tuesday confirmed its return this …