Hurricanes News

Blockchain Used as Settlement Mechanism for Cat Bond with Parametric Trigger

Financial markets are showing some signs of volatility these days after exceptionally low indicators since the start of the 2017. The Chicago Board Options Exchange Volatility Index, or VIX, is at its highest level this year. The VVIX Index, which …

Franklin Briefly Becomes Atlantic Basin’s 1st Hurricane; Weakens to Tropical Storm

Tropical Storm Franklin made landfall as a Category 1 hurricane in eastern Mexico during Wednesday night with estimated maximum winds of 85 mph, according to a report issued by Weather Underground. Over the Bay of Campeche, the storm became the …

Tropical Storm Franklin May Become Atlantic Basin’s 1st Hurricane of 2017

Tropical Storm Franklin will exit Mexico’s Yucatan Peninsula later today and continue moving toward the southwest Gulf of Mexico or the Bay of Campeche coast on early Thursday, possibly becoming the Atlantic Basin’s first hurricane of the season, according to …

Weakening Typhoon Noru Could Hit Japan This Weekend

A typhoon that briefly strengthened into the Northern Hemisphere’s strongest storm of the year has lost much of its punch but could still hit Japan by this weekend. Typhoon Noru was packing maximum sustained winds of 194 kilometers (120 miles) …

Rising Seas May Wipe Out Jersey Towns and Millions in AAA Bonds

Few parts of the U.S. are as exposed to the threats from climate change as Ocean County, New Jersey. It was here in Seaside Heights that Hurricane Sandy flooded an oceanfront amusement park, leaving an inundated roller coaster as an …

Florida’s New ‘Hurricane Hunter’ Base on Schedule for Storm Season

Officials say they’re on schedule to open the new home base for the U.S. government’s “hurricane hunter” aircraft before the Atlantic hurricane season begins. The National Oceanic and Atmospheric Administration’s planes are specially equipped to collect forecasting data as they …

Cat Simulations Test London Insurers’ Vulnerabilities to Next ‘Big One’

A major $200 billion loss from a combination of a cyber attack, U.S. hurricane and the failure of a reinsurer could strip insurers of up to 120 percent of their net capital base, tests of insurers in London showed. However, …

Typhoon Haima Hits China as Weaker Storm; AIR Worldwide Comments

Typhoon Haima made landfall in China after it brushed past Hong Kong, forcing the city’s stock exchange to cancel trading for the day and airlines to suspend flights. The Hong Kong Observatory said it will consider lowering Storm Signal No. …

Typhoon Haima Batters Philippines; Weakened Storm Heads to China

More than 90,000 people were evacuated after Typhoon Haima left vast areas of the Philippines flooded and without electricity as the strongest storm to hit the nation this year heads toward China. Haima, a Category 5 super typhoon before it …

Philippines Readies for Super Typhoon Haima – in 2nd Storm in a Week

The Philippines raised the storm alert for two northern provinces to its highest level as authorities moved people to safer ground, canceled work and suspended flights before Super Typhoon Haima is due to make landfall as soon as Wednesday night. …