by AIP Online Bureau | Oct 11, 2024 | Disaster & Management, Eco/Invest/Demography, International News
This storm could impact ongoing recovery efforts for hurricanes Helene and Milton in several critical ways, including communication disruptions, power grids stress, and degraded GPS services, according to NOAA Los Angeles: A powerful solar storm arrived at Earth on...
by AIP Online Bureau | Oct 11, 2024 | Disaster & Management, Eco/Invest/Demography, International News, Non-Life, Reinsurance, Risk Management
More than 3 million homes and businesses in Florida were without power on Thursday morning, according to PowerOutage.us. At least some had already been waiting days for power to be restored after Hurricane Helene hit the area two weeks ago. Hurricane Milton plowed...
by AIP Online Bureau | Oct 11, 2024 | Disaster & Management, Eco/Invest/Demography, International News, Non-Life, Reinsurance
Milton will push global industry insured losses thus far in 2024 to over $100 billion, which is the fifth consecutive year losses have crossed this threshold. This heightened level of catastrophe losses will likely limit any potential for rate declines in property...
by AIP Online Bureau | Oct 10, 2024 | Disaster & Management, Eco/Invest/Demography, International News, Non-Life, Reinsurance, Risk Management
Overall, Icosa Investments AG now sees insured losses in the range of $20 billion to $60 billion, meaning cat-bond investors look to be facing a maximum hit of 4%. On Wednesday, before Milton landed, Icosa warned that a direct hit to Tampa threatened to cause insured...
by AIP Online Bureau | Oct 9, 2024 | Disaster & Management, Eco/Invest/Demography, International News, Non-Life, Reinsurance, Risk Management
The Category 5 hurricane is due to make landfall on the Gulf Coast of Florida late on Wednesday or early Thursday, and is potentially one of the most destructive ever to hit the region, which is still recovering from devastation caused by Hurricane Helene less than...
