hurricane News

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 …

Price Declines Slow on June U.S. Reinsurance Renewals: Guy Carpenter

After two years of price decreases averaging 15 percent on U.S. property catastrophe placements, risk-adjusted pricing moderated at the most recent June renewals. Reinsurance broker Guy Carpenter & Co. reported that the price declines are averaging in the high single …

Report: More Than 6.6M Atlantic and Gulf Coast Homes at Risk of Storm Surge

More than 6.6 million homes on the Atlantic and Gulf coasts are at risk of hurricane storm surge with a total reconstruction cost value estimated to be nearly $1.5 trillion, according to a report released today. Property analytics and data …

Hurricane Protection System for New Orleans Tested by Army Corps

With hurricane season approaching, the Army Corps of Engineers is running through its plans to better protect New Orleans from flooding and testing pumps and floodgates built around this low-lying metropolis since Hurricane Katrina struck 10 years ago. Corps officials …

El Niño Likely to Last Through Northern Hemisphere Summer: U.S. Forecaster

The El Niño climate phenomenon is almost certain to last through the Northern Hemisphere summer, the U.S. weather forecaster said, raising the chance of heavy rain in the southern United States as well as South America, and scorching heat in …

Climate Change Modeling on Cusp of Paradigm Shift

In the face of growing interest in climate change impacts, several big catastrophe modelers said they’ve heard from more clients interested in receiving climate-related data and they believe the field is on the cusp of a change in the way …

Insurance Industry Is Leader on Climate Change, Report Says

The insurance industry is being called out by an international research institution for its progressive attitude on climate change. A white paper put out by the nonprofit Urban Land Institute this week urges the real estate sector and government planners …

Insurance Council: No Hurricanes, but Bad Weather Plagued Texas

As 2014 hurricane season ends the people of Texas can count themselves lucky to have dodged hurricanes for the past six years, which has been particularly good news for coastal residents. Despite the lack of hurricanes, Texas weather-related losses continue …

Remnants of Hurricanes Still Can Be Powerful – and Dangerous

A hurricane may lose its name, its structure and even its place on National Hurricane Center tracking maps. None of that is a guarantee the storm’s meteorological energy won’t keep making mischief. While still-dangerous storm remnants — let’s call them …

Ana Turns From Hawaii, Downgraded To Tropical Storm

Hawaii residents started to relax Sunday after days of keeping a cautious eye on Hurricane Ana, which was downgraded by late afternoon into a tropical storm. After being dangerously close for several days the closest Ana got to Hawaii was …