Wildfires raging in the West, exacerbated by drought; heavy rains in the Midwest, Northeast, and South; deadly heat waves in the Pacific Northwest; hurricanes wreaking havoc from the Gulf Coast to New England: Many Americans found it impossible to ignore the extreme weather caused by climate change in 2021. According to a Washington Post analysis,… Continue reading Extreme Weather Fueled by Climate Change Hit 4 in 10 Americans Where They Lived in 2021
Tag: hurricanes
Homeowners and Insurers Will Grapple with Climate Change in 2021
After a 2020 filled with hurricanes and wildfires, this year could be the moment when the U.S. insurance industry finally grapples with climate change. Who will win that wrestling match? Insurers? Homeowners? Or the increasingly challenging environment? “The alarm bells are now ringing loudly,” says Karen Collins, who handles home insurance and other personal lines… Continue reading Homeowners and Insurers Will Grapple with Climate Change in 2021
Natural Disaster Figures for 2020 Reflect Record Hurricane Season, Historic Wildfires
Global losses from natural disasters in 2020 came to $210bn, of which some $82bn was insured. Both overall losses and insured losses were significantly higher than in the previous year (2019: $166bn and $57bn respectively). The US share of losses was rather high: Natural disasters in the US accounted for US$ 95bn (2019: $51bn) of… Continue reading Natural Disaster Figures for 2020 Reflect Record Hurricane Season, Historic Wildfires
Hurricanes Stay Stronger Longer After Landfall than in Past
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 a reserve fuel tank for moisture, the study found. With Eta threatening Florida and the… Continue reading Hurricanes Stay Stronger Longer After Landfall than in Past
Willis Re Reports on Insured Losses and Economic Impact Due to Natural Disasters
Willis Re’s insured loss estimates from major natural catastrophes in 2018 of about USD 69.5 billion are one of the highest since the 2011 annual market losses of USD 120 billion. This report from Willis Re summarizes economic and insured losses from the most relevant natural catastrophe events that occurred during 2018. The loss values… Continue reading Willis Re Reports on Insured Losses and Economic Impact Due to Natural Disasters
As Hurricane, Fire Seasons Approach, More People Likely to Be in Harm’s Way
As emergency managers prepare for hurricane and wildfire seasons, they say growing development and higher population in vulnerable areas will likely amplify the damage and devastation. Meteorologists expect more than a dozen named storms in the Atlantic this year, slightly above average. In California, a burst of vegetation from rains could serve as fuel in… Continue reading As Hurricane, Fire Seasons Approach, More People Likely to Be in Harm’s Way
Lloyd’s of London Blames £1B Loss on Natural Disasters
Lloyd’s of London has reported a second consecutive year of losses after a series of natural disasters including hurricanes Florence and Michael and the deadly California wildfires. The insurance market reported a £1bn loss, halving its 2017 loss of £2.1bn. Chief executive John Neal vowed to turn around the market, saying this year would see… Continue reading Lloyd’s of London Blames £1B Loss on Natural Disasters
Weather-Related Catastrophes Drove Losses, But Capacity of Insurance Industry Continues to Grow
From Atlantic hurricanes and California wildfires to drought in Europe, extreme weather-related events made 2017 one of the most costly on record for the global insurance industry, but insurers’ capacity to meet their losses continues to grow. That is according to the 2018 Insurance Market Report from Aon, a leading global professional services firm providing… Continue reading Weather-Related Catastrophes Drove Losses, But Capacity of Insurance Industry Continues to Grow
FEMA Overwhelmed by Hurricanes and Wildfires in 2017, According to GAO
The back-to-back devastation of hurricanes Harvey, Irma and Maria, followed by catastrophic wildfires in California, overwhelmed federal disaster responders in 2017, according to a government report released Tuesday. The unprecedented sequence of storms and fires forced Federal Emergency Management Agency staff to jump from one disaster to another and in some cases use uncertified workers… Continue reading FEMA Overwhelmed by Hurricanes and Wildfires in 2017, According to GAO