Insured losses from flooding in Germany this month could reach €5 billion, according to modeling firm AIR Worldwide.
Global natural disaster losses during the first half of 2021 were slightly below average, compared to 10-year and twenty-first century averages, according to a new report from Aon. The Aon report notes, however, that the year's first-half disaster losses were above a longer-term average from 1980 to 2020.
The trend of damaging wildfires in the western United States resulting from excessive heat and drought conditions, combined with other adverse weather conditions, could have a significant impact on the property-casualty insurance market, according to S&P Global. The National Interagency Fire Center had recorded 35,086 fires nationwide through July 19.
A predicted above-average hurricane season and active wildfire season coupled with shortages in building supplies and global supply chain issues are setting the stage for a particularly challenging hurricane and wildfire season, according to a new white paper from the American Property Casualty Insurance Association.
Researchers at Colorado State University have issued their latest update to their 2021 Atlantic hurricane season forecast, increasing the number of expected hurricanes slightly. The revised forecast, which continues to call for above-average storm activity this year, now calls for 20 named storms this year including 9 hurricanes.