China floods News

China’s Drought-Hit Regions Now Face Heavy Rains, Flooding

More than 100,000 people have been moved to safer areas by Monday as heavy rains brought flood risks to a region of southwest China that was devastated by a heatwave and drought for most of the summer. Heavy rain was …

China Launches Disaster Insurance Trials in 6 Cities Affected by Floods in 2021

China’s third-most populous province Henan will launch pilot programs for catastrophe insurance in six cities that were the hardest hit by historic floods last summer. Aside from its capital Zhengzhou, trials are to be set up in the cities Anyang, …

Flood Alert in China’s Manufacturing Hub at Highest Level

China’s manufacturing hub of Guangdong raised its flood warning to the highest level due to the worst rains in decades, spurring more evacuations and threatening further supply chain disruptions in an economy reeling from Covid-related lockdowns. Guangdong province raised its …

Historic Levels of Rainfall Cause Floods in Central China, Killing at Least 10

At least 10 people have been killed and three are missing in flooding in the central Chinese province of Hunan, while a landslide buried parts of a village in the southern Guangxi region, state media reported. Storms have pummeled Hunan …

European Floods in Mid-July Cost Insurers $12B, Topping Non-U.S. Events in 2021

The most significant non-U.S. loss event in 2021 was the mid-July flooding in Western Europe, according to CRESTA, the Zurich-based insurance industry organization that provides a global standard for risk aggregation zones and catastrophe industry losses. This event generated a …

U.S. Hurricane Ida, Haiti Quake, Multiple Major Wildfires Among August’s Disasters: Aon

Hurricane Ida will likely become one of the costliest U.S. mainland hurricanes on record both on a nominal and inflation-adjusted basis, according to Aon’s monthly Global Catastrophe Recap report, which evaluated the impact of natural disaster events worldwide during August …

China’s Cities Aren’t Prepared for Extreme Weather Caused by Climate Change

Climate change is making China’s annual summer floods worse, and cities housing millions of people aren’t prepared to handle the damage. Record-breaking rainfall in the central province of Henan killed more than 300 people last month, while downpours continue to …

German, Chinese Insurers Face Record Disaster Claims as Extreme Weather Intensifies

Extreme precipitation in mid-July resulted in the costliest flooding events on record for German and Chinese insurers, which face potential losses of $6.5 billion and $1.7 billion, respectively, according to Aon’s monthly catastrophe report. Germany is likely to see as …

China’s Extreme Weather Provides Wake-Up Call for Under-Insured Local Authorities

BEIJING – Devastating summer floods in the populous province of Henan in central China are a wake-up call for local authorities to seek better insurance cover against natural disasters, potentially opening up a huge market for insurers in the country. …

This Summer’s Extreme Weather Hitting World’s Wealthier Countries

As the world staggers through another summer of extreme weather, experts are noticing something different: 2021’s onslaught is hitting harder and in places that have been spared global warming’s wrath in the past. Wealthy countries such as the United States, …