What is the meaning of natural catastrophe? A natural disaster is characterized by the abnormal intensity of a natural agent when the usual measures to be taken to prevent this damage were not able to prevent their emergence or were not able to be taken.
Examples of natural hazards include: avalanche, coastal flooding, cold wave, drought, earthquake, hail, heat wave, hurricane (tropical cyclone), ice storm, landslide, lightning, riverine flooding, strong wind, tornado, typhoon, tsunami, volcanic activity, wildfire, winter weather.
Disasters are classified into natural disasters, man-made disasters, and hybrid disasters.
In this section, we have collected the most current articles and reviews on the topic of the Natural Catastrophes.
Higher property values, urbanization, and increased repair costs are likely to drive demand for property re/insurance, particularly in regions facing heightened natural catastrophe
Global natural disaster losses in the first half of 2024 reached $120 bn, down from 2023, which saw $140 bn in losses due to a severe earthquake in Turkey and Syria
Natural disasters amplified by climate change continue to take a bitter toll on the global economy, caused $350 bn in economic losses, with insurance covering just over $100 bn
1H 2024 saw multiple notable natural catastrophe events, which drove total year-to-date economic losses above at least $117 bn
The 2024 Atlantic hurricane season officially began and has already been active. Business owners found that 91% identified specific weather or natural hazards as risk
The total economic loss from global natural catastrophes for H1 2024 was estimated at $128 bn, insured losses totalled at $61 bn
The global financial cost of natural catastrophes starting in 2024 was manageable for federal governments and the insurance industry
Insured losses from the 7.6 magnitude earthquake that struck the Ishikawa prefecture on the Noto Peninsula, Japan, on 1 January 2024 are likely to be small
The past year was once again characterised by extremely high insured losses from natural disasters, despite the fact that there were no extreme individual losses
Natural catastrophes will once again break several insured loss records in 2023. A high number of low-to-medium-severity events will aggregate to insured losses
US P&C insurance industry continued to generate significant underwriting losses in 1H2023 despite strong premium growth
Moody’s RMS overview of North Atlantic seasonal activity forecasts and summarized the key oceanic and meteorological drivers behind the predictions
Most natural disaster databases show a significant decline in the number of annual global events prior to 1980. While the biggest natural catastrophe events are typically captured
U.S. property catastrophe reinsurance rates rose by as much as 50% at a key July renewal date, with states such as California and Florida increasingly hit
Catastrophes and natural disasters in the Asia Pacific (APAC) region amounted to a total economic loss of $80 bn. A substantial protection gap of 86%
Insured losses from major natural catastrophes in the second quarter of 2023 are estimated to be less than $10 bn, in H1 totaled $23 bn
The current environment is complex: inflation has stayed higher for longer than expected, natural catastrophes cause increased losses
Florida Hurricane Catastrophe Fund plays a vital role in Florida’s property-insurance system as it provides relatively low-cost reinsurance
The P&C insurance industry has experienced challenges in recent years due, in large part, to increases in the frequency and severity of natural catastrophes
The past year and half have seen major changes in the global Reinsurance Property Catastrophe (CAT) market
Re/Insurers poorly prepared for the increased loss frequency and intensity wrought by flooding and climate change as this year’s North Atlantic hurricane season
Political Violence (Re)Insurance Risks are escalating as the world navigates a succession of crises. Economic and geopolitical shocks have dominated agendas
Q1 2023 severe weather insured losses should come in at a range of $7 bn to $9.5 bn of insured severe thunderstorm storm losses from hail
Policyholders should contact their insurer to obtain the assistance they need. Many claims-filing services are available via either a mobile app or online
Property reinsurance rates rose significantly at the renewals. The losses from Hurricane Ian last year were a contributory factor
