This summer’s devastating wildfire in Jasper, Canada resulted in more than C$880 million (US$653.4 million) in insured damage, according to the Insurance Bureau of Canada (IBC), quoting data provided by Catastrophe Indices and Quantification Inc. (CatIQ). The sudden and intense …
Southwestern Japan braced on Wednesday for what officials say could be one of the strongest storms to ever hit the region, as some residents in the path of Typhoon Shanshan were ordered to evacuate and major firms like Toyota closed …
Thunderstorm alerts are in place for a swath of Europe from the south of France to the Balkans. There are orange warnings for Lombardy, Piedmont, Tuscany and Umbria in Italy, as the summer heat gives way to violent storms. Serbia …
Typhoon Shanshan is expected to approach Japan’s southern island of Kyushu on Tuesday or Wednesday, with railway operators warning of service disruptions and an airline canceling flights. The storm is packing maximum sustained winds near its center of 65 knots …
The type of weather phenomenon that may have led billionaire Mike Lynch’s yacht to sink in the Mediterranean this week is now more likely to happen as global warming has raised sea temperatures, according to climate experts. The tech tycoon’s …
Greek wildfire risks increased as temperatures climb and near gale force winds blow across the Aegean Sea, while Storm Lilian is battering parts of the UK. Firefighters, supported by helicopters, are trying to control an outbreak in Paiania, on eastern …
Yellow weather warnings are in place for Scotland on Thursday, as the remnants of Hurricane Ernesto bring strong winds and heavy rain. There’s an alert for rain across western Scotland, with more than 100 millimeters (4 inches) forecast for higher …
Grenada has become the first country in the world to use a so-called hurricane clause in a government bond – a special feature that allows authorities to postpone debt payments in the wake of a major natural disaster. The move …
Europe is spending tens of billions of euros a year to fight wildfires, yet it hasn’t stopped blazes from flaring up across Greece and other parts of the continent this summer. This week fires on the outskirts of Athens engulfed …
A strategy that’s delivered specialist investors huge returns is now facing scrutiny, amid concerns that its risk-reward dynamics might be skewed against some issuers. Catastrophe bonds, which are issued by insurers, reinsurers and governments seeking an extra layer of disaster …
