Weather Risk

Insurance claims for flood damage in Germany may be as much as $8 billion, catastrophe modelling firm AIR Worldwide said on Thursday, after the worst flooding in a decade.

They used to call Professor Nicholas K. Coch "Dr. Doom." Now they call him quite often.

The Oklahoma Insurance Department says insurance claims from a series of tornadoes in May jumped to 70,782 with insurance payments reaching close to $562 million.

New York City Mayor Michael Bloomberg announced an ambitious, multi-decade plan that would put $20 billion toward protecting the city against natural disasters caused by climate change.

New York City Mayor Michael Bloomberg announced an ambitious, multi-decade plan that would put $20 billion toward protecting the city against natural disasters caused by climate change.

Although hurricanes are usually associated with southern coastal states, hurricanes Irene and Sandy proved storm surge is also a big risk for other states.

There is a probability of 96-percent a hurricane of any strength will make landfallwith the usual suspects at the head of the list for landfall, says a team at Colorado State University.

Inundations of claims following events like Superstorm Sandy have left insurance providers scrambling for ways to manage claims and owners of micro businesses wishing theyd invested in better coverageand so-called superstorms are not likely to go away any time soon.