KCC Director: Hurricanes Increasing in Intensity

Hurricane intensity increases

AM Best Dan Ward, atmospheric scientist and director of model development, Karen Clark and Co., discusses the outlook for the 2024 hurricane season. Ward expects a very active season this year, especially in places such as Florida and Louisiana, as well as wildfire as a secondary peril.

Catastrophe Bonds Based on Models that Often Underestimate Climate Risks

catastrophe bonds based on modeling underestimating climate risks

Catastrophe bonds and other insurance-linked securities, which powered last year’s highest-returning hedge fund strategy, are built on calculations that can underestimate a new breed of risk stemming from high-frequency events such as wildfires and thunderstorms, according to veteran investors.

Severe Storms Rumble Across Eastern U.S.

weather insurance

More severe storms and flash flooding will continue for parts of the U.S. on Thursday after an intense line of storms whipped through multiple states with heavy rain and tornadoes, leaving extensive damage and killing at least least one person.

New Record of 142 Natural Catastrophes Accumulates to $108B in Insured Losses in 2023

Thunderstorms, derechos disrupting travel

A devastating earthquake in Turkey and Syria, severe convective storms (SCS) and large-scale urban floods were the main events driving insured natural catastrophe losses to $108 billion in 2023, reaffirming the 5–7% annual growth trend in global insured natural catastrophe losses since 1994.

Extreme Weather Fueled by Climate Change Hit 4 in 10 Americans Where They Lived in 2021

climate change and higher insurance rates

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