The United States and the Philippines are the countries hit hardest by climate-driven extreme weather, measured as a percentage of their economies, according to a report released Wednesday by global reinsurance giant Swiss Re. The US currently experiences the worst …
A major port on Australia’s west coast used by Rio Tinto Group to export iron ore has started clearing ships from the harbor ahead of a cyclone that’s expected to form early Friday. All port anchorages are expected to be …
No one can predict the future, but insurance professionals are likely the best qualified when it comes to predicting risk. For this special report, Insurance Journal magazine asked industry thought leaders their predictions for the property/casualty world in 2024 and …
A handful of super powerful tropical storms in the last decade and the prospect of more to come has a couple of experts proposing a new category of whopper hurricanes: Category 6. Studies have shown that the strongest tropical storms …
Norway’s most powerful storm in more than three decades ripped off roofs, heightened avalanche risks, canceled flights and cut power as it raged in parts of the Scandinavian country Thursday. Hurricane-force winds brought gusts of up to 180 kilometers (112 …
Colombia declared a national disaster as wildfires spread through drought-hit forests and filled the capital, Bogota, with smoke. Environmental authorities reported 31 separate blazes on Thursday, after months of hot, dry weather caused by the El Nino weather phenomenon. Some …
Ex-Tropical Cyclone Kirrily has uprooted trees and felled powerlines in Australia’s Queensland state, leaving tens of thousands without electricity or phone service as the state braces for further wild weather into the weekend. The storm has weakened to a tropical …
Reinsurers’ underwriting margins are expected to peak in 2024 on the significant price rises and tighter terms and conditions achieved during 2023 and in the January 2024 renewals, which will likely lead to softer market conditions in 2025, according to …
Australia is being lashed by damaging winds and heavy rainfall as Severe Tropical Cyclone Kirrily makes landfall, the biggest system to hit the Queensland coast in almost five years. Kirrily is crossing near Townsville as a Category 3 system, and …
The insurance industry is grappling with a new kind of weather risk that’s increasingly driving its biggest loss category. While no single weather event caused more than $10 billion in losses for insurers last year, there were 37 thunderstorms that …
