Severe weather outbreaks across the United States, with a lot of hailstorm damage, resulted in another costly month for insurers as a significant proportion of the US$4 billion economic cost was covered by insurance, according to Aon’s monthly Global Catastrophe …
Tropical Storm Dolly spun up southeast of Halifax, Nova Scotia, becoming the Atlantic’s fourth named storm of 2020, marking the third-fastest start to a storm season in more than a century. The system’s winds reached 45 miles (72 kilometers) per …
Parametric catastrophe facility CCRIF paid the government of Guatemala approximately US$3.6 million under its excess rainfall (XSR) parametric insurance policy for nine days of rain that occurred during Tropical Storms Amanda and Cristobal. The policy was triggered by rains that …
The mishandling of the biggest Arctic oil spill ever infuriated Russian President Vladimir Putin and could give a boost to the country’s environmental regulation. MMC Norilsk Nickel PJSC, Russia’s biggest miner, didn’t make a public statement until two days after …
A massive fuel spill in Siberia prompted Russia to declare a state of emergency in the region as the mining company involved said the catastrophe may have been caused by climate change. Scientists have warned for years that thawing of …
A cyclone made landfall Wednesday south of India’s financial capital of Mumbai, with storm surge threatening to flood beaches and low-lying slums as city authorities struggle to contain the coronavirus pandemic. Live TV coverage showed inky black clouds framing the …
The first tropical storm of the Eastern Pacific season drenched parts of Central America Sunday and officials in El Salvador said at least seven people had died in flooding. President Nayib Bukele decreed a 15-day state of emergency to deal …
Mumbai, the financial capital of Asia’s third-largest economy, is likely to be affected by a cyclonic storm Wednesday, potentially causing widespread disruption in business and hurting efforts to fight the virus outbreak in a city that’s emerged as the epicenter …
The official start of the Atlantic hurricane season on Monday could signal more steep losses for insurers and reinsurers, already battered by the impact of the coronavirus pandemic on their underwriting and investment positions. However, recent years of hefty damage …
Tens of thousands of homes and businesses lost power, buildings were battered and trees were uprooted as a vast stretch of the west Australian coast was whipped by a severe storm on Monday for the second straight day. No casualties …
