Insurers saw the third most expensive year for natural catastrophe losses in 2024 – reaching a total of US$140 billion – as climate change “is showing its claws,” according to Munich Re. Overall economic losses from natural disasters worldwide reached …
Italian companies are preparing to comply with a requirement to take out natural disaster insurance from next April, although some fear it will be hard to enforce and too costly. Many small and medium-sized firms, which form the backbone of …
Starting Jan. 1, every company in Italy must buy insurance to protect its assets from floods, landslides and other natural hazards that have become more common thanks to global warming. It’s the latest sign of Europe’s rising anxiety about climate …
South Africa declared a national disaster after floods and storms caused widespread damage in the country, allowing the government to free up funds for relief and reconstruction. Disruptive rains, floods, strong winds and hail from Oct. 22 to Oct. 29 …
Floods engulfed parts of north-central Italy from overflowing rivers following days of heavy rain, prompting the state-led road operator to close some expressways. Severe flooding was seen in the region of Emilia Romagna on Sunday. One person was reported missing, …
Insured industry losses from the flooding in the Czech Republic, Poland and Austria in September 2024 will range from €2 billion (US$2.2 billion) to €3 billion (US$3.4 billion), according to Verisk, the data analytics and technology provider. S&P Global Ratings …
The heavy rains and severe floods of Storm Boris, which inundated Central and Eastern Europe during the second week in September, will be the most severe flood event in about a decade, carrying an insurance price tag of an estimated …
Record rainfall leading to flooding that killed 24 people in Europe earlier in September was twice as likely due to manmade climate change, a study has found. The flooding took place across central Europe after Storm Boris stalled over the …
Austria’s national railways will need months to restore the country’s busiest train line after catastrophic floods wrecked infrastructure, throttling the capacity to move people and goods. Commuters and supply chains will need to adapt after record rainfall damaged tracks, tunnels …
Just a week ago, before deadly floods swept through central Europe, the Czech Republic looked on track to become the first country in the region since COVID-19 to pull its budget deficit firmly below the 3% of GDP cap set …
