FRANKFURT/MUNICH — German reinsurance group Munich Re will no longer insure against events canceled due to pandemics, a board member said on Tuesday. The world’s largest resinsurer is making the change after it faced large losses this year in the …
Cybersecurity has emerged as the most pressing exposure for business confronting a new “age of risk,” topping the coronavirus pandemic and climate change, in part because cybercrime is so pervasive, the head of insurance broker and consulting firm Marsh & …
Hurricanes are keeping their staying power longer once they make landfall, spreading more inland destruction, according to a new study. Warmer ocean waters from climate change are likely making hurricanes lose power more slowly after landfall, because they act as …
NEW ORLEANS — Just as Louisiana begins an ambitious slate of projects to rebuild its crumbling coastline, the essential ingredients — sea sand and river silt — will be harder to come by. That’s not because these materials are rare; …
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 …
FORT LAUDERDALE, Fla. — With forecasters predicting another intense Atlantic hurricane season with as many as 13 to 19 named storms, disaster preparedness experts say it’s critically important for people in evacuation zones to plan to stay with friends or …
The world’s seas are simmering, with record high temperatures spurring worry among forecasters that the global warming effect may generate a chaotic year of extreme weather ahead. Parts of the Atlantic, Pacific and Indian Oceans all hit the record books …
Fiercer and more frequent natural disasters in recent years have many homeowners re-evaluating their landscaping. Many are restocking with trees and plants more resilient in the face of storms, fires and flooding. Scientists link the higher frequency of severe weather …
MOSBY, Mo. — Tammy Kilgore raised the giant claw of a John Deere excavator high in the air, then slammed it down on the roof the house where she had spent nearly her entire adult life. The shingles crunched, but …
Insurer Travelers Cos Inc reported a lower-than-expected quarterly profit on Tuesday as it bolstered its reserves to cover asbestos-related and other claims, sending its shares down nearly 4% in trading before the bell. The insurer said it set aside an …