Sales of catastrophe bonds growing rapidly

By Dan Box We are entering hurricane season again. As I write, the first of this year’s crop are working out their fury over the Atlantic and Pacific oceans while, in New Orleans, anniversary ceremonies are being held to mark the harvest claimed by Hurricane Katrina four years ago. … Catastrophe bonds are, depending on […]

States shed reinsurance and 'run naked' through storm risks

By EVAN LEHMANN of ClimateWire Several states prone to natural disasters are measuring the odds on a mega-bet. Concerned observers say those calculations are based on “Lady Luck” and “rolling the dice.” Public insurance programs in some coastal states are flirting with the notion of saving millions of dollars every year by shrinking or canceling […]

Graph of the Day: Losses from Floods, Windstorms, and Earthquakes, 1980-2005

From the Human Impact Report, page 85: The approach of comparing the trends in weather-related and geophysical disasters is based on an analysis of loss-generating events in the publication Journal of Flood Risk. The article states that by “Assuming the socio-economic driving factors behind loss-generating events to be the same for all causes, the difference […]

NASA study links severe storm increases, global warming

PASADENA, Calif. — The frequency of extremely high clouds in Earth’s tropics — the type associated with severe storms and rainfall — is increasing as a result of global warming, according to a study by scientists at NASA’s Jet Propulsion Laboratory, Pasadena, Calif. In a presentation today to the fall meeting of the American Geophysical […]

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