Turkey Earthquake Tops 2023 Insurance Industry Losses Outside US: CRESTA January 2, 2024 The largest non-US natural catastrophe in 2023 was the Kahramanmaras Earthquake Sequence in Turkey on Feb. 6, which generated an...
Nigeria’s Worst Flood in Decade Caused Billions in Economic Damage December 1, 2023 By Ruth Olurounbi Nigerian floods last year that claimed hundreds of lives also caused up to $9 billion in damage, according to a...
Insured Losses From Severe Convective Storms in US Top $50B for 1st Time: Aon October 20, 2023 By L.S. Howard Insured losses from severe convective storms in the United States continued to increase during the third quarter, surpassing the $50...
Record Heat Unleashes Deadly Floods – From US to Libya October 5, 2023 By Brian K. Sullivan Extreme heat is usually associated with drought and wildfires. But across five continents this year, it’s also unleashed a different...
US Home Insurance ‘Bubble’ Closer to Popping as Climate Risks Mount: Report September 20, 2023 By Leslie Kaufman Home insurance costs that have soared in much of the US may get even higher. Tens of millions of properties...
Hong Kong’s Floods to Hit Insurers’ Earnings, Could Pressure Reinsurance Renewals September 18, 2023 The recent devastating floods following Super Typhoon Saola in Hong Kong and other parts of China may add further pressure...
Hong Kong Sees Heaviest Rainfall on Record; Insurance Claims Could Exceed $100M September 8, 2023 By Richard Frost Hong Kong’s heaviest rainstorm since records began in 1884 flooded the financial hub’s streets and sent torrents of water rushing...
Slovenia Estimates €7 Billion Price Tag for Reconstruction After Floods August 31, 2023 By Jan Bratanic Rebuilding from this month’s floods in Slovenia will cost €7 billion ($7.6 billion) over the next five years, Prime Minister...
India Braces for More Rain After Floods, Lightning Kill 2,000 August 18, 2023 Some regions of India are bracing for more torrential rain, raising the risk of further causalities after natural calamities such...
What Are China’s ‘Sponge Cities’ and Why Aren’t They Stopping Urban Floods? August 15, 2023 By David Stanway China has been hit by devastating floods in recent weeks, inundating cities and causing deaths and infrastructural damage, as well...