Overall losses and insured losses from natural catastrophes during the first half of 2015 were below long-term average values, according to a review of global natural catastrophes issued by Munich Re. Total natural catastrophe losses incurred in the first half …
UK regulators have asked property and casualty insurers to stress test their capital reserves against catastrophes, including a synchronized terrorist attack in London, New York and one other major city. The Prudential Regulation Authority (PRA) published the exercises last week …
The Atlantic’s second storm of the year may be developing over the Yucatan Peninsula, with the potential to reach Texas and Louisiana and flood Houston for the second time in a month. Thunderstorms moving northwest from the Yucatan along the …
Most investors need to make a significant behavioral shift and start factoring climate change into their portfolio risk management, a study on its impact on financial market returns found. Government officials are meeting in Germany this month to work on …
The El Niño taking hold across the Pacific strengthened, according to Australia’s Bureau of Meteorology, citing indexes of sea-surfaces temperatures that showed the same trend for the first time since the event in 1997-1998. All five NINO indexes, averaged over …
Impact Forecasting, Aon Benfield’s catastrophe model development team, has developed a fully probabilistic flood model for Canada to help insurers and reinsurers better underwrite and manage their riverine and off-flood plain exposures. The model was developed in response to devastating …
In 2009, the El Nino brought the worst drought in four decades to India. It razed wheat fields in Australia and damaged crops across Asia. Food prices surged. A closely watched forecast by Japan on Tuesday confirmed its return this …
Guy Carpenter launched its G-CAT® Canada Flood Model, which it describes as the first ever probabilistic flood model for Canada that enables insurers to assess their exposure to flood, Canada’s most frequently occurring natural hazard. Large areas of Canada experience …
A new report on water insecurity says floods and drought amid climate change and a lack of investment in reliable water supplies is weighing on the global economy by tens of billions of dollars a year. “Water is productive and …
Chinese officials don’t usually go into detail on the challenges that climate change poses for the world’s most populous and largest carbon-emitting country. But in a speech on March 23, a top meteorologist warned of the severe risks facing China, …
