The floods that devastated the Spanish region of Valencia at the end of last month are expected to trigger total insurance losses in excess of €3.5 billion ($3.8 billion), Moody’s estimates. The projection is based on the first 72,000 insurance …
As a deadly storm bore down on Valencia on Oct. 29, the regional president was attending a ceremony to recognize his work on sustainable tourism. Three hours earlier, Spain’s national climate agency had issued a red alert about the rains …
Hurricane Rafael, which struck Cuba with heavy rainfall and flooding as well as gusts and rain in the Florida Keys on Wednesday, is now just over 200 miles to the West of Keys, according to the National Hurricane Center. The …
Barcelona’s transport system ground to a halt, as Catalonia was the latest Spanish region to be hit by extreme storms that killed more than 200 people in neighboring Valencia last week. Flooded streets brought traffic to a standstill in the …
Flooding from Hurricane Milton appears to have been more extensive than initially determined, affecting almost 185,000 buildings all across Florida, says a new analysis from ICEYE, a firm that uses satellite images to measure damage for the insurance industry. The …
BHP Group and Vale SA have signed a 170 billion-real ($29.8 billion) settlement with Brazil over the deadly Mariana dam collapse in 2015 at their iron ore joint venture. The settlement, which includes 38 billion reais, or about $6.7 billion, …
More loss and claims estimates are trickling in from carriers after Hurricane Milton caused widespread wind and flood damage in Florida this month. Tampa-based Heritage Insurance Holdings said in a preliminary statement that about two weeks after Milton made landfall …
An agreement by Vale, BHP and their joint venture Samarco to pay 170 billion reais ($29.85 billion) in compensation for a deadly dam collapse in Brazil could end more than a hundred lawsuits against the mining companies in the South …
Although 2024 has seen significant global natural catastrophe activity, economic costs were slightly below average through the third quarter, according to Gallagher Re’s latest Nat Cat report. The total economic loss from natural perils in the first three quarters of …
Insured industry losses to onshore property for Hurricane Milton will fall between $30 billion and $50 billion, according to an estimate out on Wednesday from Verisk. Moody’s RMS Event Response said earlier this week that total U.S. private market insured …