Weather Risk

Two buildings were leveled and eight residents were killed in a huge explosion the morning of March 12 in New Yorks East Harlem, igniting a five-alarm blaze. Dozens of people were reported injured.

Extreme floods like those swamping parts of Britain in recent months could become more frequent in Europe by 2050, more than quadrupling financial losses, if climate change worsens and more people live in vulnerable areas, research showed on Sunday.

Personal lines insurers and their captive and independent agents will be paying close attention this week as the House works to craft a politically acceptable bill that will delay or reduce National Flood Insurance Program premium increases mandated by a 2012 law.

Floods and powerful storms pounding the U.K. the past few months could cost the insurance industry at least 500 million pounds, and that figure may double if the weather conditions persist.

Three staff members from the Insurance Institute for Business & Home Safety (IBHS) will present technical papers concerning weather-related losses this week.

The cost of insuring a solar plant has dropped by 50% since 2010 because of cheaper photovoltaic panels that lead to lower project costs and reduced premiums.