The Bahamas may need to tap international debt markets as it confronts the steep cost of recovering from the most destructive hurricane ever to hit the islands. The government will probably borrow about $500 million in coming months as it …
Natural catastrophes caused overall losses of US$150 billion during 2019, including insured losses of about US$52 billion, which matches the average of the past 30 years, according to Munich Re’s catastrophe update. The reinsurer said the protection gap (the difference …
The Atlantic Ocean has spawned lots of storms this season while doing much less damage than prior years. But warming waters promise trouble ahead. The 2019 Atlantic hurricane season, which ends Nov. 30, has been the eighth most-active in named …
The 2019 Atlantic hurricane season, which ends on November 30, was marked by tropical activity that churned busily from mid-August through October, according to the National Oceanic and Atmospheric Administration (NOAA). The season produced 18 named storms, including six hurricanes …
Typhoon Hagibis is likely to become one of 2019’s costliest events, with economic costs of more than US$10 billion and insured losses minimally in the billions, according to Aon’s monthly catastrophe report. The storm made landfall in Japan’s Iza Peninsula …
Tropical Storm Nestor was downgraded Saturday after it spawned a tornado that damaged homes and a school in central Florida but spared an area of the Panhandle devastated one year ago by Hurricane Michael. The storm, however, spun off at …
A disturbance in the southwestern Gulf of Mexico is likely to become a tropical storm that will hit the northern U.S. Gulf Coast with wind and rain, forecasters said Thursday. Moving off the eastern coast of Mexico, the low pressure …
Hurricane Dorian made landfalls in the Bahamas, North Carolina, and Canada in early September, bringing total economic and insured losses in the billions, according to Aon’s monthly Global Catastrophe Recap report. Total economic and insured losses in the Bahamas alone …
Hurricane Lorenzo powered across the Atlantic Ocean on Wednesday, lashing the Azores Islands with heavy rains, powerful winds and high waves but causing only minor damage, according to authorities. The Azores Civil Protection Agency said the Category 2 hurricane felled …
Hurricane Lorenzo, the largest storm ever to roam the Eastern Atlantic, is forecast to strike the heart of Ireland’s west coast within days carrying tropical-strength winds, driving rain and a huge storm surge. Once a Category 5 storm with 160 …
