Chinese leader Xi Jinping called for efforts to minimize casualties after an impoverished region in the northwest was hit by an earthquake that left more than 100 people dead. The 6.2-magnitude quake late Monday killed 105 people in Gansu and …
A key tourism area in Australia’s far north has been inundated with life-threatening flooding after days of torrential rainfall in the wake of a tropical cyclone. Major flood and strong wind warnings have been issued across several areas in Queensland …
Australia’s far north coast is bracing for a cyclone that’s expected to bring damaging winds, heavy rainfall and potential flooding to an important tourism region. Tropical Cyclone Jasper, currently a category 1 storm, is forecast to intensify as it approaches …
It’s the cusp of winter in the Northern Hemisphere, but in many places from the US to Japan, it feels more like spring — and forecasters say that’s a sign of what to expect over the next couple of months, …
Global insured losses from severe thunderstorms have hit a new all-time high of US$60 billion in 2023, with overall natural catastrophe claims surpassing $100 billion, according to Swiss Re Institute in a new report. As the US is particularly prone …
A severe cyclone in the Bay of Bengal is likely to cause heavy rain and strong winds across southeast India, with authorities warning of flash floods, damage to crops and power failures in some affected areas. Cyclone Michaung may bring …
Money pledges grabbed the spotlight again at COP28 in Dubai on Monday as delegates turned their focus to the yawning gap in the need for climate finance and what’s on offer. The United Arab Emirates, the host of this year’s …
Nigerian floods last year that claimed hundreds of lives also caused up to $9 billion in damage, according to a report from the National Bureau of Statistics. The assessment, conducted in collaboration with the World Bank, placed the cost of …
The property/casualty insurance industry is confronting challenging claims dynamics, with rising frequency and severity of claims despite decreases in economic inflation, according to Swiss Re. The pace of claims growth in the liability line of business challenges the insurability of …
Moody’s RMS, the risk modeling and solutions company, estimates private market insured losses from Hurricane Otis to range between US$2.5 billion and US$4.5 billion. On the other hand, Verisk puts insured losses at US$3 Billion to US$6 Billion. The estimated …
