The 2024 hurricane season presented challenges for insurers thanks largely to hurricanes Beryl, Helene, and Milton—the three powerful storms caused more than $138 billion in damage as well as $52 million in insured losses. Nearmap, an aerial imagery and location …
The year 2024 will be remembered as a defining moment in the history of weather-related catastrophes. From unprecedented heat waves to catastrophic floods, the world witnessed the devastating effects of extreme weather patterns that left no corner of the globe …
As 2025 begins with wildfires wreaking devastation across Los Angeles, it’s now clear that insured losses from natural catastrophes last year soared to the highest since 2017. At $140 billion, insured losses globally were more than double the 30-year average …
Four natural catastrophes over four weeks during Canada’s summer season have resulted in about five times the amount of claims than the 20-year average, reported the Insurance Bureau of Canada. About 228,000 home, auto and business insurance claims have been …
Global insured losses from natural catastrophes in the first quarter were estimated at $20 billion, with U.S. claims accounting for more than $15 billion, or 75%, of the Q1 total, according to a Gallagher Re in a report. Despite a …
When disaster hits in the US, the federal government gives aid to states and counties, but also to individuals. In 2022, the Federal Emergency Management Agency delivered $3.25 billion to nearly 1.4 million households recovering from damaging floods and fires. …
Experts predicted insured losses from Hurricane Ian could earn it a spot as one of the costliest natural disasters in history after the storm rapidly intensified before coming ashore in Southwest Florida with 150 mph wind and began a crawl …
In the event of a natural catastrophe, two ports in Nagoya, Japan and Guangzhou, China, would suffer the greatest losses at $2.3 billion and $2 billion respectively, according to RMS analysis of the catastrophe risk associated with the world’s ports. …