Several northern New Jersey towns hit hard by recent flooding are taking steps to make sure it doesn’t happen again. New Jersey’s Department of Environmental Protection has awarded $350,000 to four communities in the Passaic River Basin that suffered damage …
A.M. Best Co. reports that the vast majority of insurance losses stemming from the massive flooding in Thailand will come predominately from the impact to manufacturing and supply chains, as discussed in the recently published analytical briefing “Thai Flooding Brings …
Insurers are bracing themselves for claims in excess of $10 billion after floods in Thailand disabled major foreign-owned manufacturing operations there, adding to an already record-breaking natural catastrophe bill this year. Analysts and industry executives say it is too soon …
Insured losses from Thai floods could be in the double-digit billions of dollars and the disaster will lead to a re-assessment of weather risks to industries in Asia, a senior official from global insurer Allianz said. Calculating the true cost …
Catastrophe modeling firm AIR Worldwide has issued a report on the heavy rains, which caused widespread flooding in France and Italy during the first week of November. The storms were caused by a “low pressure system that developed over the …
When flood waters rose in Thailand, Wal-Mart stores in Japan ran out of mouthwash. “We were out of mouthwash in Japan for about four days,” Scott Price, Wal-Mart’s Asia chief executive officer, said at the APEC business leaders’ summit. “A …
According to catastrophe modeling firm AIR Worldwide, “historic flooding in Thailand continues to damage residential properties and has interrupted operations for numerous businesses. At the start of this year’s monsoon season in late July, Tropical Storm Nock-Ten brought high precipitation …
Deaths and health problems from floods, drought and other U.S. disasters related to climate change cost an estimated $14 billion over the last decade, researchers said Monday. “When extreme weather hits, we hear about the property damage and insurance costs,” …
Catastrophe risk modeling firm AIR Worldwide has released an inland flood model for Germany, which it said “offers a fully probabilistic approach for determining the likelihood of flood losses from all types of storms. The model provides insurers and reinsurers …
Continuing heavy rains have caused serious flooding in southern France and throughout Italy, with little letup in sight. In western England an horrendous crash on the M25 motorway in Somerset, involving 34 cars and trucks, left seven people dead and …
