A disaster-weary globe will be hit harder in the coming years by even more catastrophes colliding in an interconnected world, a United Nations report issued Monday says. If current trends continue the world will go from around 400 disasters per …
The newest member of Farmers Insurance Group’s catastrophe response team is a four-legged robot that vaguely resembles a headless greyhound. Farmers announced that it purchased a remote-controlled robot dubbed “Spot” from Boston Dynamics and expects delivery this fall, after the …
The world was watching end-of-days scenes: Firefighters in yellow jackets, blurry against a copper sky, battled to push back walls of flames. Veterinarians tended to badly burned koalas and kangaroos. Dazed survivors picked through the ruins of their torched houses. …
As insurers brace for an expensive natural-disaster season because of storms and wildfires ravaging parts of the United States, the novel coronavirus is giving them an odd financial break. Many companies that were damaged or evacuated because of natural catastrophes …
Global insurers are well capitalized to absorb the hit from rising claims and costs related to the COVID-19 pandemic, ratings agency AM Best said on Monday, citing a stress test it conducted to gauge the immediate impact of outbreak on …
Zurich Insurance Group AG expects to have more power to increase commercial insurance rates than it has seen in almost two decades as a shortage of supply and high natural catastrophe payouts help reverse declining premiums. “The last time this …
SAN FRANCISCO — A financial tug-of-war is emerging over the $13.5 billion that the nation’s largest utility has agreed to pay to victims of recent California wildfires, as government agencies jockey for more than half the money to cover the …
The 2019 Atlantic Hurricane Center has been challenging the ground rules for an insurance industry organization that dispatches pilots to take aerial photographs immediately after natural disasters. Usually, the Geospatial Intelligence Center doesn’t deploy aircraft or staff unless a Category …
Newswise — When Hawaiians received a false alarm text message that said “Ballistic missile threat inbound to Hawaii. Seek immediate shelter. This is not a drill,” in January 2018, the result was not panic, according to new research from the …
Natural catastrophes like floods and storms claimed more than 20,000 lives and caused around $125 billion in damage worldwide in 2013, well below the average of the last decade, reinsurer Munich Re said on Tuesday. The world’s largest reinsurer said …