Articles by Matthew Griffin

Nation’s Flood Insurance Program Is Making More Repeat Payouts

When Hurricane Helene barreled ashore last week, it caused devastating flooding across the southeastern U.S., including in the Shore Acres area of St. Petersburg, Florida. The neighborhood saw 6 feet of storm surge, which flooded roads and homes. It was …

Built-Up Cities Get More Rain Than Rural Outskirts, Study Finds

Cities often get more rain and experience extreme rainfall more often compared to surrounding areas, a new study finds, a phenomenon that compounds other risk factors for urban flooding. Of the more than 1,000 cities around the world that the …

The Era of Runaway Heat Records Is Here

Las Vegas set a heat record of 117 degrees Fahrenheit (47.2C) in 1942, and for 82 years no weather system could budge it. Thermometers registered the same temperature four more times, all since 2005, without setting a new high. Then …

AIG Profit Exceeds Expectations on Lower Catastrophe Losses

American International Group Inc. (AIG) reported profit above analysts’ estimates in the first quarter as lower-than-expected catastrophe losses contributed to strong underwriting results. Adjusted earnings for the quarter were $1.2 billion, or $1.77 a share, up from $1.63 a share …

Titanic Law Helps Ship Owner Limit Bridge Collapse Liability

The owner of the ship that rammed into a Baltimore bridge could face hundreds of millions of dollars in damage claims after the accident sent vehicles plunging into the water and threw the eastern US transportation network into chaos. But …