Australia’s resource-rich Queensland state is bracing for its second tropical cyclone in a little more than a month, with a storm off the coast expected to strengthen during the weekend. A tropical low developing in the Coral Sea is set …
Mauritius lifted its highest weather alert and eased a nationwide curfew Tuesday after a deadly cyclone battered the Indian Ocean island, causing heavy flooding and extensive damage in the capital and other parts of the country. The nearby French island …
Freezing weather in Germany and other parts of Europe threatened widespread road, rail and flight disruptions as the region braced for snowfall and heavy ice build-up. Frankfurt’s airport operator canceled more than half of the flights scheduled for Wednesday, while …
Federal lawmakers introduced a bill to create a federal natural catastrophe backstop recently, reacting to insurers’ issues with growing private reinsurance costs. But a trade group for carriers suggested that a federal remedy could create more problems. “Federal solutions to …
Australians bracing for a return of scorching heat and wildfires are instead battling a prolonged deluge of rain across the country’s east that’s inundated homes and damaged crops from sugar to wheat. Vast areas of the country’s populous eastern states …
Storm Henk, which battered Britain last week, caused around 150 million pounds ($190 million) in insured losses and damaged around 2,000 properties, consultants PwC said on Wednesday. Heavy rain caused major rivers to burst their banks and the government issued …
Heavy rains and flooding across Australia’s southern state of Victoria has damaged crops and stranded cattle as a months-long run of wild weather on the nation’s east coast leaves a trail of destruction. Severe storms have lashed Victoria since October, …
Natural catastrophes in 2023 caused global economic losses of US$250 billion, with insurers and reinsurers paying US$95 billion of that amount, according to Munich Re. Last year’s insured losses of US$95 billion are close to the five-year average of US$105 …
The earnings impact on the major domestic non-life insurers of claims from the Jan. 1, 2024 earthquake in Japan is expected to be manageable relative to the sector’s net profit, according to AM Best in a market commentary. Japan’s four …
The powerful earthquake that hit Japan’s western coast on New Year’s Day has underscored the country’s exposure to natural disasters, casting fresh doubt over a push to bring its nuclear capacity back online. Nuclear power plants dot the coast of …
