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Post Event Report: Hurricane Ida Eastern U.S. Impacts

The Hurricane Ida post-event report comprises the following sections: Updated Insured Loss Estimate Updates Regional Impacts Notable Impacts by Peril Additional implications for the Insurance Industry Key Dates in the Timeline of Hurricane Laura This second Post Event Report on Hurricane Ida is focused on the widespread damage across the Mid-Atlantic and ... Continue Reading »

Flood Risk Index Provides Global Overview

The Marsh McLennan Flood Risk Index provides key information on the likelihood, vulnerability and severity of flood exposure for countries throughout the world. It is accessible through a highly intuitive navigator that visualizes the results on an interactive world map. The index makes it easy to compare scores between two countries, one country and the world average, and ... Continue Reading »

Live Event: Ida Hits Eastern U.S. with Extreme Flooding and Severe Thunderstorm Activity

Live Event: Ida Hits Eastern U.S. with Extreme Flooding and Severe Thunderstorm Activity ​​​​Key Ida Headlines Exceptional Mid-Atlantic Flooding: Both in terms of hourly rainfall rates as well as daily rainfall totals, Ida brought extreme, and in some cities, record setting rainfall to the Mid-Atlantic yesterday. Wide swaths of Pennsylvania, New Jersey, New York and ... Continue Reading »

Post Event Report: Henan Flood – July 17-21

Summary During the period of July 17 to 21, catastrophic flooding affected Zhengzhou, Henan in Mainland China. The flooding was driven by historic intense rainfall caused by the combination of air-flow around the Western North Pacific Subtropical High (WNPSH), and tropical cyclones Cempaka and In-fa. The observed precipitation surpassed the historical record of past decades ... Continue Reading »

Flood Peril in the Wake of Climate Change

Here we bring together recent GC Capital Ideas posts covering the flood peril, as risks increase due to climate change and increasing population growth in flood-prone areas.  Sunk Costs: The Socioeconomic Impacts of Flooding:  Flooding is the most pervasive natural disaster in the world. Since 1980, floods have killed over 250,000 people and caused over USD 1 trillion in ... Continue Reading »

Sunk Costs: The Socioeconomic Impacts of Flooding

Flooding is the most pervasive natural disaster in the world. Since 1980, floods have killed over 250,000 people and caused over USD 1 trillion in damage, accounting for about 40 percent of natural catastrophe losses. Risks are increasing due to climate change and the growth of populations and economic activity in flood prone areas. This has implications for prosperity and ... Continue Reading »

Community-Based Catastrophe Insurance: Disaster Aid Financing or CBCI?

A community-based catastrophe insurance (CBCI) program clearly defines before a disaster what type of support will be given to individuals. This facilitates better individual risk management and planning than reliance on uncertain aid. Also, the inclusion of a risk signal in a CBCI program — for example, via a risk reduction surcharge — requires and supports raised awareness of ... Continue Reading »