Hong Kong scrapped trading of stocks and bonds Tuesday after tropical storm Nangka prompted authorities to shutter businesses and close schools. The move came after the Hong Kong Observatory kept its storm signal at No. 8, the third-highest on its …
Hurricane Sally is not expected to cause a major insurance loss – compared to events such as the ongoing wildfires in California, Oregon, and Washington, or Hurricane Laura, according to AM Best. As the storm was more of a flood …
Hurricane Sally’s historic flooding of Florida and Alabama this week marked the eighth named storm to strike the continental U.S. this year, leaving the tally just one short of a record that dates back more than a century. With 10 …
GULF SHORES, Ala./HOUSTON – As an Alabama resident, Toby Wallace has seen his fair share of hurricane damage working for the U.S. Federal Emergency Management Agency, where he handles flood insurance claims. But that did not prepare him for Hurricane …
Global insured property losses from disasters were US$31 billion in the first half of 2020, up from US$23 billion during the same period last year, according to Swiss Re Institute’s sigma estimates. Natural catastrophes accounted for US$28 billion of H1’s …
The industry loss footprint for extratropical cyclone “Sabine” – also known as “Ciara” and “Elsa” – is estimated at €1.61 billion (US$1.9 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. Cyclone Sabine hit the …
China warned that the worst of the deluges that have led millions to be evacuated may be yet to come, after a third wave of floods formed in the upper reaches of the Yangtze River on Sunday. “The flood control …
Munich Re and Aon both issued reports this week on the economic and insurance costs of global natural catastrophes during the first half, which varied in magnitude by $7 billion. While Munich Re estimated that natural disasters across the globe …
The dam at a small reservoir in China’s Guangxi region gave way last month after days of heavy rain in a collapse that could be a harbinger of sterner tests for many of the country’s 94,000 aging dams as the …
The industry loss footprint for the January 2020 Australian hailstorms, which occurred Jan. 19-21, 2020, are estimated at A$1.8 billion (US$1.3 billion), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. The figure is based on …
