The Park Fire in Northern California has grown to over 383,000 acres, making it the fifth-largest wildfire in state history, affecting four counties and threatening thousands of structures.
In 2023, Europe faced unprecedented extreme weather events, including heatwaves, droughts, storms, and floods, highlighting the urgent need for insurers to adapt and develop robust climate risk management strategies.
Homeowners insurance premiums surged by 21% from May 2022 to May 2023, largely due to severe weather events driven by climate change, leaving many homeowners with limited options.
Two bears trapped inside a car in Winsted, Connecticut caused significant damage before being safely released, highlighting the growing black bear population in the state.
The wildfires and flooding in Nova Scotia last year resulted in $490 million in insured losses, according to a recent report by the Insurance Bureau of Canada.
Climate change poses significant challenges for the insurance industry, but climate technology offers solutions that can help insurers predict, prevent, and mitigate weather-related risks, potentially transforming the sector.
The first half of 2024 saw substantial global insured losses, with US severe convective storms accounting for 61% of the $61 billion total, highlighting the period as the costliest on record.
Adjusters in the insurance industry, particularly those working in property claims, are expressing significant frustration and burnout due to overwhelming workloads and unrealistic expectations.
Exploring the compounded impacts of multiple disasters on Gulf Coast communities from 2020 to 2021 and the lessons learned to enhance future resilience.
Moody’s RMS estimates U.S. insured losses from Hurricane Beryl between $2.5 and $4.5 billion, with NFIP losses under $300 million and non-U.S. losses not exceeding $1.5 billion.
While often dismissed, Category 1 hurricanes and tropical storms can cause significant damage and fatalities, emphasizing the need for a comprehensive understanding of storm impacts beyond mere wind strength.
Hundreds of thousands of Texans remain without power one week after Hurricane Beryl caused widespread damage. Gov. Greg Abbott has demanded an explanation from Houston’s main electricity supplier.
Hurricane Beryl is estimated to have caused $3.3 billion in insured losses, with $2.7 billion in the U.S., $510 million in the Caribbean, and $90 million in Mexico.
The Biden administration finalizes a policy requiring FEMA-funded reconstruction projects to be elevated above local flood levels to mitigate damage from intensifying floods due to climate change.
