December 1, 2023
Nigerian floods last year that claimed hundreds of lives also caused up to $9 billion in damage, according to a report from the National Bureau of Statistics. The assessment, conducted in collaboration with the World Bank, placed the cost of …
October 20, 2023
Insured losses from severe convective storms in the United States continued to increase during the third quarter, surpassing the $50 billion mark for the first time on record and accounting for roughly 60% of all global insured losses, according to …
October 5, 2023
Extreme heat is usually associated with drought and wildfires. But across five continents this year, it’s also unleashed a different kind of disaster: deadly flooding. Cities around the world have seen record rainfall 139 times in 2023. A rare hurricane-like …
September 20, 2023
Home insurance costs that have soared in much of the US may get even higher. Tens of millions of properties around the country are insured at prices that haven’t caught up with the danger of hurricanes, wildfires and floods, according …
September 18, 2023
The recent devastating floods following Super Typhoon Saola in Hong Kong and other parts of China may add further pressure to the upcoming reinsurance renewals in January, according to an AM Best commentary. The overall impact of the rainstorm is …
September 8, 2023
Hong Kong’s heaviest rainstorm since records began in 1884 flooded the financial hub’s streets and sent torrents of water rushing through subway stations, bringing much of the city to a standstill and forcing the stock market to scrap trading on …
August 31, 2023
Rebuilding from this month’s floods in Slovenia will cost €7 billion ($7.6 billion) over the next five years, Prime Minister Robert Golob said. The government is preparing new legislation to serve as a road map for reconstruction after the worst …
August 18, 2023
Some regions of India are bracing for more torrential rain, raising the risk of further causalities after natural calamities such as floods and lightning killed 2,000 people during the current monsoon season. Rains have affected about 500,000 hectares (1.24 million …
August 15, 2023
China has been hit by devastating floods in recent weeks, inundating cities and causing deaths and infrastructural damage, as well as raising questions about the effectiveness of its 2015 “sponge city” initiative aimed at reducing urban flood risks. The initiative …
August 10, 2023
A dam on a Norwegian river partly collapsed after heavy rain on Wednesday, sending water gushing through a wide gap in the structure, and the prime minister said the country should be prepared for more floods in the coming days. …