extreme weather News

Assets of World’s Largest Companies at Growing Risk of Climate Impact: S&P

Over 90% of the world’s largest companies will have at least one asset highly exposed to the physical impacts of climate change by the 2050s, data and analysis from index and ratings provider S&P Global showed on Thursday. From heatwaves …

NYT Piece Calls out ‘Summer of Climate Disasters’

Insurance professionals in the alternative energies sector may want to take note of a recent Bloomberg opinion piece that focuses on supply chain and supply chain risks due to rising energy costs. It calls 2022 “a blockbuster year for energy …

Droughts, Floods, Other Water-Related Disasters Could Cost Economy $5.6T by 2050

Worsening droughts, storms and torrential rain in some of the world’s largest economies could cause $5.6 trillion in losses to the global economy by 2050, according to a report released on Monday. This year heavy rains have triggered floods that …

Europe’s Record-Breaking Summer Heat Wave Will Be the Norm by 2035: Report

Europe’s record-breaking heat wave will be just an average summer in less than 15 years — even if countries meet their climate goals — with regular droughts and fires set to become the norm. By the end of the century, …

Weather Whiplash: Summer Lurches From Drought to Flood

Parts of northern Texas, mired in a drought labeled as extreme and exceptional, are flooding under torrential rain. In a drought. Sound familiar? It should. The Dallas region is just the latest drought-suffering-but-flooded locale during a summer of extreme weather …

Australia’s Extreme Climate Risks Threaten to Make Home Insurance Unaffordable

Australia’s mounting extreme weather events threaten to make home insurance premiums unaffordable for an estimated 1 million households. On average, Australians living in high-risk areas like northern Queensland pay A$3,000 ($2,100) in annual premiums, or double that of residents in …

Majority of Young Homeowners Expect Their Homes to Be Damaged by Extreme Weather in Next 30 Years

Young homeowners are more concerned about the damage climate change-related extreme weather could do to their homes, according to a new survey from Policygenius. The survey found that 72 percent of young insured homeowners (age 18 to 34) believe it …

Climate Change Driving Extreme Heat and Flooding in 2022: Report

Extreme weather events – from scorching heatwaves to unusually heavy downpours – have caused widespread upheaval across the globe this year, with thousands of people killed and millions more displaced. In the last three months, monsoon rains unleashed disastrous flooding …

Flooding Inundates More of Bangladesh and India, Stranding Nearly 10M People

DHAKA/GUWAHATI, India – Floodwaters inundated more of Bangladesh and northeast India on Tuesday, officials said, as authorities struggled to reach more than 9.5 million people stranded with little food and drinking water after days of intense rain. Particularly heavy monsoon …

World’s Biggest Re/Insurers Expanding in Africa, but Climate Change Could Hit Profits

The world’s biggest insurers are expanding in Africa, looking to tap growth promised by a rising population and middle class, but climate change could complicate their quest for profits. With Western markets overcrowded, the continent provides a rare chance to …