The El Niño weather pattern, a phenomenon associated with extreme droughts, storms and floods, is expected to strengthen before the end of the year and become one of the strongest on record, the U.N. weather agency said on Monday. The …
Global catastrophe losses in October are expected to top $10 billion, according to a report from Impact Forecasting, Aon Benfield’s catastrophe model development unit. A record 22 global tropical cyclones have now developed in the Northern Hemisphere during 2015, said …
Bonds sold by Mexico to shield it from the cost of repairing hurricane damage are closer to paying out after the biggest storm ever measured in the Americas struck the country last month, Standard & Poor’s said. S&P cut its …
There’s little question that the drought and the recent wildfire season that it unleashed pushed more California homeowners into the surplus lines market. Now with the onset of what appears to be a strong El Niño this week in the …
Mexico’s natural disaster fund may be $100 million better off at bondholders’ expense after Hurricane Patricia appeared to trigger a catastrophe bond the country sold in 2012. Investors in those notes maturing Dec. 4. are waiting for a verdict on …
Across eastern Texas, parts of Louisiana and Mississippi the land went from moist to parched in a matter of weeks. Drought, which had been eradicated in Texas last spring, returned and spread across the South, reaching as far as the …
A group of drought experts gathered in California this week, and it wasn’t long before the conversation turned to El Niño. They weren’t touting it as the savior that will end the state’s four-year drought. Instead, they were looking at …
A pair of massive blazes in the Northern California are a bleak reminder of how bad things can get in a state with persistent drought and windy conditions. A more worrisome thought is California’s official wildfire season has yet to …
The monthly report for August from Aon Benfield’s Impact Forecasting catastrophe model development team cites the “severe drought conditions” in the western U.S. as resulting in “economic losses expected to reach at least $3.0 billion – mostly attributable to agricultural …
The El Nino that’s changing weather across the globe is now the strongest since the record event almost two decades ago. Sea temperature anomalies in the central Pacific Ocean are now at their highest since 1997–98, Australia’s Bureau of Meteorology …
