Verisk, a leading global data analytics and technology provider, estimates industry insured losses to onshore property for Hurricane Idalia will range from $ =2.5 billion to $4 billion.
Tag: natural catastrophe
Tropical Storm Idalia to Become Hurricane on Its Path Toward Florida
Tropical Storm Idalia is set to intensify into a hurricane on Monday on its way toward Florida, which is bracing for its first major storm of the Atlantic hurricane season.
Preliminary H1 Insured Losses at $52 Billion: Gallagher Re
The cost of natural catastrophe losses in H1 2023, according to Gallagher Re, covered by private insurance or public insurance entities tallied $52B.
Hurricane Ida Batters Louisiana, Leaving New Orleans Without Power
Ida made landfall near New Orleans at midday on Sunday as a Category 4 hurricane, bringing pounding rain, catastrophic winds and dangerous sea surges in the fiercest storm to batter the city since Hurricane Katrina 16 years ago. Hurricane Ida intensified early Sunday with sustained winds of 150 miles an hour after crossing the warmest… Continue reading Hurricane Ida Batters Louisiana, Leaving New Orleans Without Power
Climate Change Added $8 Billion to Sandy’s Damages, Study Says
Climate change-triggered sea level rise added $8 billion in damage during 2012′s Superstorm Sandy, one of nation’s costliest weather disasters, a new study said. During Sandy — a late fall freak combination of a hurricane and other storms that struck New York and surrounding areas — the seas were almost 4 inches (9.6 centimeters) higher… Continue reading Climate Change Added $8 Billion to Sandy’s Damages, Study Says
Swiss Re’s Q1 Net Income Hits $333m Despite Over $1B of COVID & Cat Losses
Global reinsurance giant Swiss Re has reported net income of $333 million for the first quarter of 2021 against a loss of $225 million in the prior year period, despite losses related to COVID-19 and large natural catastrophes of more than $1 billion. Alongside growth in net income across the Group, the reinsurer has also… Continue reading Swiss Re’s Q1 Net Income Hits $333m Despite Over $1B of COVID & Cat Losses
Bahamas Storm Toll: $3.4 Billion Loss and Years of Rebuilding
The Bahamas may need to tap international debt markets as it confronts the steep cost of recovering from the most destructive hurricane ever to hit the islands. The government will probably borrow about $500 million in coming months as it deals with the roughly $3.4 billion in losses and damages from Hurricane Dorian, said K.… Continue reading Bahamas Storm Toll: $3.4 Billion Loss and Years of Rebuilding