Latest Natural Disasters Headlines
All the headlines from our Natural Disasters Topic Page, ordered by recency.
Rebuilding from Hurricanes Hinges on Immigrants at Center of US Election
Oct 28 2024 // The efforts to rebuild in Southeastern states after a pair of destructive hurricanes are at risk of being drawn out by shortages of a critical supply of workers: migrants. Builders are anxious about proposals laid out by...
Catastrophe-Bond Funds Suffered Virtually No Losses From Hurricane Milton
Oct 25 2024 // After two weeks of number-crunching, it now seems clear that investors in catastrophe bonds emerged from Hurricane Milton relatively unscathed. In fact, holders of the bonds may be looking at returns of as much as 12%,...
Hurricane Milton Caused $1.5B-$2.5B in Losses to Florida Agriculture
Oct 22 2024 // Hurricane Milton caused an estimated $1.5 billion to $2.5 billion in damage to Florida’s crops and agricultural infrastructure, according to a preliminary assessment released by the state’s Department of...
Natural Disasters Cost China $13 Billion in January-June
Oct 22 2024 // Natural disasters such as flooding, drought and extreme temperatures cost China 93.16 billion yuan ($12.83 billion) in the first half of this year, with almost 33 million people affected, the government said on...
Claims from Hurricane Milton Continue to Rise in Florida
Oct 22 2024 // Almost two weeks after Hurricane Milton made landfall near Sarasota, Florida, as a Category 3 storm, claims and loss totals continue to rise. As of Oct. 21, the Florida Office of Insurance Regulation said carriers had...
Cuba Hit by Tropical Storm Oscar as It Struggles to End Blackout
Oct 21 2024 // Cuba was dealing with heavy rains and winds today from Tropical Storm Oscar, even as it continues to deal with a prolonged blackout affecting a large swath of the island. According to the U.S. National Hurricane Center,...
Maui Wildfire Survivors Will Get An Additional Year of Housing Help From FEMA
Oct 18 2024 // Survivors of last year’s deadly wildfire that decimated a historic Maui town will receive an additional year of housing assistance from the Federal Emergency Management Agency. Housing has been a major challenge in...
Wuuii Partnering with IBHS on Wildfire Prepared Home Option for Californians
Oct 18 2024 // Wuuii is partnering with the Insurance Institute for Business and Home Safety to combine IBHS’ Wildfire Prepared Home program and Wuuii’s Madronus Wildfire Defense network to offer an option for California...
HCI Group Expects to Pay $600M to $750M in Claims from Recent Hurricanes
Oct 17 2024 // Publicly traded HCI Group, the Tampa-based holding company for Homeowners Choice Property & Casualty, TypTap and a new condominium insurance reciprocal, is one of the first Florida insurers to report estimated losses...
Natural Disaster Losses Below Average Through Q3, Despite Higher Frequency: Report
Oct 16 2024 // Although 2024 has seen significant global natural catastrophe activity, economic costs were slightly below average through the third quarter, according to Gallagher Re’s latest Nat Cat report. The total economic loss...
Hurricane Milton Insured Losses in $30B-$50B Range, Says Verisk
Oct 16 2024 // Catastrophe modeler Verisk said it expects insured losses from Hurricane Milton will be between $30 billion and $50 billion from damages caused mostly by wind. Verisk’s Extreme Event Solutions group said the range...
Explaining Deductibles After Multiple Florida Hurricanes
Oct 16 2024 // Deductibles serve several purposes. They provide some premium relief for the insured. They make insureds less likely to file smaller claims because either damage falls within the deductible, or is so close to it that the...
Far From Milton’s Eye, Tornadoes Wrought Unexpected Damage
Oct 16 2024 // WELLINGTON, Fla. (AP) — Tony Brazzale, a diving boat captain who has lived for 10 years in his Wellington home in southeastern Florida, wasn’t worried about Hurricane Milton. The storm’s center was forecast...
Volunteers Bring Solar Power to Hurricane Helene Disaster Zone
Oct 15 2024 // Nearly two weeks after Hurricane Helene downed power lines and washed out roads all over North Carolina’s mountains, the constant din of a gas-powered generator is getting to be too much for Bobby Renfro. It’s...
KCC Expects Private Insured Losses of $36B From Hurricane Milton
Oct 15 2024 // Florida’s Hurricane Milton caused private insured losses of about $36 billion, estimated catastrophe modeler Karen Clark & Co. The estimate includes losses from wind, storms surge, and inland flooding to...
Typhoon-Hit Southeast Asia to See a Rainy End to 2024
Oct 15 2024 // Southeast Asia could see higher-than-normal rainfall in the coming months, threatening further disruptions to agriculture, tourism, and industrial output in a region already hit by a series of storms this year. Weather...
Hurricane Milton Could Use Up P/C Insurers’ 2024 Catastrophe Budgets
Oct 10 2024 // S&P Global Ratings said potential losses from Hurricane Milton could fully deplete the 2024 natural catastrophe budgets for rated U.S. property/casualty insurers, affecting underwriting margins and earnings. In a...
Flaws of the Saffir-Simpson Scale: Wind Isn’t the Only Threat in Modern Hurricanes
Oct 10 2024 // The insurance industry faces significant challenges in covering catastrophic risks, especially as climate change drives more extreme weather events. With soaring premiums and increasing exclusions, the need for an accurate...
North Dakota Officials Offer Guidance Following Wildfires
Oct 9 2024 // In the wake of wildfires over the weekend affecting parts of NorthDakota, Insurance Commissioner Jon Godfread and State Fire Marshal Doug Nelson are reminding residents of the necessary steps to protect themselves and...
Hurricane Milton Bears Down on Florida’s Tampa Area With House-Toppling Winds
Oct 9 2024 // Hurricane Milton churned toward Florida’s west coast with winds powerful enough to demolish houses, threatening to unleash once-in-a-century flooding across some of the state’s fastest-growing...
