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 …
An analysis of residential properties across the U.S. shows a large proportion of homes with multiple structures may be underinsured or uninsured because the additional structures sometimes go undetected. ZestyAI, a of climate and property risk analytics provider, sampled 1 …
The Philadelphia Eagles football team has lost its bid for federal court reconsideration of the dismissal of the team’s claim for insurance coverage for COVID-19 losses. The Eagles tossed a red flag in November after the federal district for Eastern …
After emerging from an unusually active hurricane season with market-beating returns, catastrophe bonds are rapidly adding investors. Despite the increase in extreme weather — 2024 marked the ninth straight season in which the Atlantic basin suffered above-average storm activity — …
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, …
The 2024 Atlantic hurricane season ends Nov. 30 after 18 named storms including the earliest Category 5 storm on record, and possibly one of the costliest hurricanes to the insurance industry. Of the 18 named storms, 11 were hurricanes and …
Snow and ice are disrupting transport and straining power grids, after the first major storms of the winter season hit northern Europe. Northern France is under a orange weather warning, after Storm Caetano left as much as 20 centimeters (8 …
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 …
Flood damage-related economic losses totaled USD $51.6 billion in 2023, but research shows protective measures can substantially reduce losses, according to Swiss Re Institute. As losses are expected to increase due to more intense weather events and continued urban sprawl, …