Battery Energy Storage Systems (BESS) development has been looming in U.S. energy markets for several years. Now, as capacity has begun expanding rapidly, the insurance claims are beginning to materialize in both construction and operational policies. For underwriters and claims …
New research from Stanford University shows that hurricanes and tropical storms in the United States cause a surge of deaths for nearly 15 years after a storm hits. Researchers estimate an average U.S. tropical cyclone indirectly causes 7,000 to 11,000 …
There are major climate finance fights ahead at this year’s COP29 summit in Azerbaijan. The United Nations’ meeting kicking off next week brings with it a clear goal: Figuring out how to scale up finance to help developing countries embark …
The Philippines’ farm output dropped the most in nearly four years last quarter due to bad weather, showing a potential drag to growth in one of Asia’s fastest-expanding economies. Farm production value fell 3.7% from a year ago in the …
It’s been a busy weather year. There have been 24 confirmed weather/climate disaster events with losses exceeding $1 billion each to affect the U.S. as of Nov. 1, according to the National Oceanic and Atmospheric Administration. Related: KBRA Says Florida …
Canadian authorities have arrested a man suspected of being behind a string of hacks involving as many as 165 customers of Snowflake Inc., according to people familiar with the matter. Following a request from the US, Alexander “Connor” Moucka was …
Spanish Prime Minister Pedro Sanchez announced the first financial package for victims of the storms that killed more than 200 people in the country’s eastern region of Valencia. Spain will earmark as much as €10.6 billion ($11.5 billion) for its …
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 …
Florida’s Hurricane Catastrophe Fund, a state-created layer of reinsurance, expects to pay out about $4.6 billion to help cover insurers’ losses in Hurricanes Helene and Milton. But that won’t trigger a surcharge on premiums. And a number of Florida property …
Evelin Weber and her neighbors fled their Malibu homes as the deadly Woolsey Fire tore across the California coast in 2018. Ever since, haunted by fears of another blaze, she’s spent $300,000 on fireproofing her house. Weber installed a fire …