The initial estimate of the insured property market loss for flood damage caused by storm Desmond during Dec. 4-24, 2015 is £717 million ($1 billion), while windstorm losses from the event are estimated at £42 million ($59.3 million), according to …
Global natural disasters in 2015 caused a combined total insured loss of $35 billion – 31 percent below the 15-year average of $51 billion and the lowest annual insured loss total since 2009, said a report issued by Impact Forecasting, …
Tighter construction restrictions and incentives to build outside flood-prone areas would minimize damage to the U.K. economy from heavy rain and rising water levels, according to the Centre for Economic Performance. Thousands of families across northern England and Scotland have …
Flooding in the final month of 2015 will put pressure on the earnings of U.K. property insurers, according to a briefing published by A.M. Best. Initial estimates of combined insured losses from Storm Desmond, which hit the United Kingdom on …
Insurers paid out around $27 billion for natural disaster claims last year with weather causing 94 percent of incidents, underscoring the challenge posed by climate change, data from reinsurer Munich Re showed on Monday. While the climate phenomenon known as …
Torrential rain and gale force winds battered northern Britain on Wednesday, cutting power to thousands of homes and forcing some to evacuate flooded streets in the third major storm in a month. The Environment Agency said Britain had faced an …
Insurers are facing some of the costliest British floods on record as large parts of northern England, already inundated, brace for more heavy rain. Accountants estimate that insurers are currently facing a bill of up to 1.5 billion pounds ($2.22 …
Weather related disasters such as floods and heatwaves have occurred almost daily in the past decade, almost twice as often as two decades ago, with Asia being the hardest hit region, a U.N. report said on Monday. While the report …
The El Niño weather pattern, a phenomenon associated with extreme droughts, storms and floods, is expected to strengthen before the end of the year and become one of the strongest on record, the U.N. weather agency said on Monday. The …
Global catastrophe losses in October are expected to top $10 billion, according to a report from Impact Forecasting, Aon Benfield’s catastrophe model development unit. A record 22 global tropical cyclones have now developed in the Northern Hemisphere during 2015, said …
