The European Central Bank and the region’s insurance authority proposed a two-pronged approach to increase insurance coverage for floods, storms and other weather disasters that are increasingly being fueled by climate change. One part of the plan is a voluntary …
Local officials in the French territory Mayotte fear as many as 1,000 people have died after Tropical Cyclone Chido hit the archipelago off the coast of Mozambique on Saturday. Emergency crews on Monday worked to rescue survivors amid scenes of …
At the Florida Chamber of Commerce Insurance Summit last week, the state’s emergency management director announced a multi-million-dollar program that many homeowners, lawmakers and insurers have long hoped for: New grants and low-interest loans that will help elevate homes above …
When hurricanes hit coastal areas, property insurers often breathe a sigh of relief when much of the damage appears to be the result of storm surge and flooding – losses that aren’t covered by most homeowners’ policies. But after Hurricane …
This year is “effectively certain” to be the warmest on record with temperatures climbing above a closely watched threshold for the first time. The average global temperature reached 1.62C above pre-industrial levels in November, according to the EU-funded Copernicus Climate …
Insured losses from natural catastrophes are on track to exceed $135 billion in 2024, with at least two-thirds of this year’s insured losses attributable to the U.S., according to Swiss Re. It’s the fifth straight year natural catastrophe-driven insured losses …
A meter of sea level rise by 2100 would affect more than 14 million people and $1 trillion worth of property along the Southeast Atlantic coast, a new study shows. A recent study published in the journal Nature Climate Change …
Flood risk is rising across the Eastern and Southern states from extreme rainfall, hurricanes, and sea level rise, according to a new report by Moody’s Ratings. The increasing flooding hazard poses “significant credit challenges” that include rising property insurance rates, …
Insurance carriers and restoration teams face a cascade of challenges. The increasing frequency and severity of climate-induced catastrophes, such as Hurricanes Helene and Milton, have pushed some carriers out of high-risk areas, which has played a part in the 17.4% …
Meteorologists are forecasting a stormy pattern that could impact millions of people across U.S. this week with the threat of flooding, travel disruptions and the potential for the first accumulating snowfall of the season in some places. Flooding rainfall and …