2021 natural catastrophes News

Parametric Catastrophe Insurer CCRIF to Make Record Payout of $40M for Haiti Quake

CCRIF SPC, the Cayman Islands-based parametric catastrophe facility, will pay approximately US$40 million to the government of Haiti, following the devastating magnitude 7.2 earthquake, which struck the Caribbean island on Aug. 14, significantly affecting the city of Les Cayes. This …

Why Haiti Is Prone to Deadly Earthquakes

Earthquakes have been wreaking havoc in Haiti since at least the 18th century, when the city of Port-au-Prince was destroyed twice in 19 years. Saturday’s powerful quake killed hundreds and injured thousands more. Eleven years earlier a temblor killed tens …

Firefighters Struggle to Control Blazes Fueled by Heatwaves in France and Spain

Firefighters are struggling to control blazes in France’s Gulf of Saint Tropez and in the Spanish province of Avila, another manifestation of dangerous global warming that’s already caused a long list of extreme weather events this summer. A wildfire burned …

Insured Losses from Haiti Earthquake Estimated at $250M: Karen Clark & Co.

The large 7.2 magnitude earthquake, which hit Haiti on Aug. 14, is likely to cost insurers around $250 million, according to catastrophe modeling firm Karen Clark & Co. (KCC). While the insured losses from this event are estimated at $250 …

Heavy Rains Lash Haiti, Complicating Rescue Efforts for Earthquake Survivors

LES CAYES, Haiti – Heavy rains lashed Haiti on Tuesday night, complicating rescue efforts and drenching thousands left homeless by a devastating earthquake that killed at least 1,419 people, as hopes dimmed for survivors. Tropical Depression Grace churned over the …

Death Toll Soars from Haiti Earthquake; U.S. Deploys Search and Rescue Teams

The U.S. deployed search and rescue teams to help find survivors among the debris of collapsed buildings in Haiti as the death toll soars from Saturday’s massive earthquake. At least 1,297 people were killed after the 7.2-magnitude quake struck off …

Global Insured Disaster Losses Reach US$42B in H1 as 2nd Highest on Record: Swiss Re

Estimated insured losses from natural catastrophes reached US$40 billion during the first half – driven by a deep winter freeze, hailstorms and wildfires, while man-made disasters triggered another estimated US$2 billion of insured losses, according to Swiss Re. The loss …

German, Chinese Insurers Face Record Disaster Claims as Extreme Weather Intensifies

Extreme precipitation in mid-July resulted in the costliest flooding events on record for German and Chinese insurers, which face potential losses of $6.5 billion and $1.7 billion, respectively, according to Aon’s monthly catastrophe report. Germany is likely to see as …

Worst Algerian Wildfires in Decades Kill at Least 65 People

The worst wildfires in decades have killed at least 65 people in Algeria’s forested mountains, making it the latest Mediterranean nation to be struck by devastating blazes as temperatures have risen to unprecedented highs. France offered help, including two Canadair …

China’s Extreme Weather Provides Wake-Up Call for Under-Insured Local Authorities

BEIJING – Devastating summer floods in the populous province of Henan in central China are a wake-up call for local authorities to seek better insurance cover against natural disasters, potentially opening up a huge market for insurers in the country. …