Quakes and storms cause $US95 billion in insurance losses in 2023 -Munich Re
Munich, GermanyReuters Earthquakes in Turkey and Syria, storms in the United States and other natural disasters caused an estimated $US95 billion in insured losses in 2023, down from the previous year but still above the long-term average, Munich Re said on Tuesday. The tally of losses from natural catastrophes covered by insurance is less than […]
Protection for the vulnerable: Heat insurance offers climate change lifeline to poor workers
GLORIA DICKIE, SIMON JESSOP and SHIVAM PATEL, of Reuters, report on how the concept of “parametric” insurance is growing in places like India…
Disasters caused total of $US122 billion in insured losses in 2022 – Swiss Re
Zurich, SwitzerlandReuters Hurricane Ian and other natural catastrophes have caused an estimated $US115 billion of insured losses so far this year, well above the 10-year average of $US81 billion, Swiss Re estimated on Thursday. Natural and man-made disasters did economic damage of $US268 billion, of which $US122 billion was covered by insurance, making 2022 one […]
Analysis – First US coral insurance marks the rise of the reef brigades
Hong Kong, ChinaReuters Conservation group The Nature Conservancy’s vision for the future of coral protection involves speed boats, and a global army of snorkellers and divers deployed when tropical storms and hurricanes damage reefs. On Monday, the global ‘Reef Brigades’ plan came closer to reality when it bought an insurance policy on behalf of the […]
After $US2 million New York church robbery, houses of worship evaluate theft risk
RNS When Rev Frank Tumino, pastor of St Augustine, walked into his Catholic church in the Park Slope neighbourhood of Brooklyn on the last Saturday in May, he found physical and spiritual wreckage: Angels that had decorated the front of the building were decapitated, Communion wafers were scattered across the altar and, most shocking, an […]
Insurers suddenly raise stakes on German churches’ sex abuse response
RNS Germany’s Catholic and Protestant churches have been criticised for their handling of clergy sexual abuse for years now by victims, believers and the media. Now they face new pressure from an unexpected corner: the insurance industry. VBG, a national association of accident insurance providers, recently complained to the two predominant church bodies in the […]
Germany counts cost of floods as hopes of finding survivors fade
Berlin, GermanyReuters A relief official dampened hopes on Wednesday of finding more survivors in the rubble of villages devastated by floods in western Germany, as a poll showed many Germans felt policymakers had not done enough to protect them. More than 170 people died in last week’s flooding, Germany’s worst natural disaster in more than […]
Some Australians return home as others evacuated in floods crisis
Sydney, AustraliaReuters Australians hit by devastating floodwaters began returning to their homes on Thursday as skies cleared and authorities accelerated clean-up efforts, though fresh evacuation orders were issued in some areas where water levels were still rising. Relentless rains for five straight days – the worst downpour in more than half a century – burst […]
Western US wildfires cost insurers up to $US13 billion in 2020
New York, USThomson Reuters Foundation A record-breaking wildfire season in the western United States cost insurers a staggering $US7 billion to $US13 billion in 2020, researchers said on Tuesday, an illustration of the growing price tag on natural disasters linked to climate change. Risk Management Solutions, a US-based risk management company, tabulated the costs of […]
Church reopenings and liability: As pandemic persists, US churches and insurance companies grapple with risk
JACK JENKINS, writing for Religion News Service, looks at how churches are confronting the issue of liability as they move to re-open…