Nasty winter tornadoes — like the deadly ones last week that hit five states — are likely to be stronger and stay on the ground longer with a wider swath of destruction in a warming world, a new study shows. …
An Arctic temperature record of more than 100 Fahrenheit (38 Celsius) was reached in a Siberian town last year during a prolonged heatwave that caused widespread alarm about the intensity of global warming, a U.N. agency confirmed on Tuesday. Verkhoyansk, …
Health insurance costs for employers rose the most in over a decade this year as Americans resumed non-urgent procedures delayed earlier due to the COVID-19 pandemic, according to a survey published on Monday. The survey by benefits company Mercer of …
Extreme weather events in 2021, including a deep winter freeze, floods, severe thunderstorms, heatwaves and a major hurricane, resulted in estimated annual insured losses from natural catastrophes of US$105 billion, the fourth highest since 1970, according to Swiss Re Institute’s …
The cost of insurance to cover problems involving M&A has nearly doubled in just two years, underwriters and brokers said, after an explosion of global dealmaking during the COVID-19 pandemic. Potential buyers take out insurance to protect against issues such …
AM Best is maintaining a stable market segment outlook for the global reinsurance segment, citing in part the ongoing positive pricing momentum driven by rising loss cost inflation, enhanced underwriting discipline, including tighter terms and conditions, and a growing demand …
Reinsurance rates are expected to increase by more than 10% in catastrophe-related lines of business when contracts are renewed in January 2022, which supports an improving sector outlook for 2022, according to Fitch Ratings. Typically, two-thirds of non-facultative reinsurance business …
AM Best has revised its 2022 market segment outlook for the U.S. property/casualty commercial lines insurance industry to stable from negative, despite some near-term challenges including inflation, an uneven economic recovery and continued pressure on jury awards and settlement costs. …
New results show North Atlantic hurricanes have increased in frequency over the last 150 years Jennifer Chu | MIT News Office When forecasting how storms may change in the future, it helps to know something about their past. Judging from …
Initial insured losses for extratropical windstorm “Hendrik-Ignatz,” also known as “Aurore,” are estimated at €311 million ($352 million), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. The storm, which affected north-western and central Europe from …
