By Bill McKibben 9 October 2024 (The Guardian) – Even as the good people of Florida’s west coast pulled the soggy mattresses from Helene out to the curb, Milton appeared on the horizon this week – a double blast of destruction from the Gulf of Mexico that’s a reminder that physics takes no time off, not even in the […]
By Sally Ho 5 October 2024 (AP) – A week after Hurricane Helene overwhelmed the Southeastern U.S., homeowners hit the hardest are grappling with how they could possibly pay for the flood damage from one of the deadliest storms to hit the mainland in recent history. The Category 4 storm that first struck Florida’s Gulf […]
By Suzanne Blake 10 July 2024 (Newsweek) – Texans have been facing a home insurance crisis that is only likely to escalate in the days after Hurricane Beryl, experts told Newsweek. Hurricane Beryl first entered Texas in Matagorda on Monday morning as a Category 1 hurricane after moving throughout the Caribbean. The hurricane persisted throughout Texas with strong winds and rain, […]
By Scott Cohn 2 July 2024 (CNBC) – An insurance crisis that has sent premiums skyrocketing and caused carriers to flee coastal states like Florida and California is spreading, and it is fundamentally changing the real estate market in states across the country. “Not only is the cost higher than people anticipated, but just the inability to […]
By Meredith Garofalo 13 June 2024 (Space.com) – Two severe weather events in May brought the number of billion-dollar disasters for the United States in 2024 up to nearly a dozen. The month began with a tornado outbreak from May 6 to May 10 that stretched across 23 states, going from South Dakota to Florida. […]
By Jake Bittle 16 May 2024 (Grist) – The rising cost of homeowner’s insurance is now one of the most prominent symptoms of climate change in the United States. Major carriers like State Farm and Allstate have pulled back from offering fire insurance in California, dropping thousands of homeowners from their books, and dozens of small […]
9 January 2024 (Munich Re) – Worldwide, natural disasters in 2023 resulted in losses of around US$ 250bn (previous year US$ 250bn), with insured losses of US$ 95bn (previous year US$ 125bn). Overall losses tally with the five-year average, while insured losses were slightly below the average figure of US$ 105bn. Unlike in previous years, […]
LONDON, 23 January 2024 (Aon) – Aon plc, a leading global professional services firm, today published its 2024 Climate and Catastrophe Insight report, which identifies global natural disaster and climate trends to help make better decisions to manage volatility and enhance global resilience. The report reveals that the 398 global natural disaster events caused a $380 billion (2022: $355 billion) […]
By Jacob Bogage 3 September 2023 (The Washington Post) – In the aftermath of extreme weather events, major insurers are increasingly no longer offering coverage that homeowners in areas vulnerable to those disasters need most. At least five large U.S. property insurers — including Allstate, American Family, Nationwide, Erie Insurance Group and Berkshire Hathaway — […]
By Ryan Mac 4 June 2023 (The New York Times) – California property owners hoping to open new insurance policies are no longer able to do so with one of the nation’s largest homeowner insurance companies. Allstate, the state’s fourth-largest property and casualty insurance provider, has stopped selling new home, condominium or commercial insurance policies in California, […]
