Natural disasters

Climate risk models, which are widely used in the insurance industry, don't typically make detailed projections for extreme heat.

Investment funds based on parametric insurance have the potential to beat cat bond returns, according to Rhodri Morris, a portfolio manager at Twelve Securis.

The chance at a piece of strong returns has encouraged investment banks, hedge funds and debt investors to vie for contracts to fund the litigation, according to people involved in transactions.

Predicting environmental risks that follow a major natural disaster represents an untapped opportunity for insurance , according to head of reinsurance firm Swiss Re AG's China unit.

Unless adequately shielded from extreme weather events, assets designed to help fight climate change may risk access to insurance.

"We want to wean off of FEMA, and we want to bring it down to the state level," Trump told reporters on June 10 during a briefing in the Oval Office.

Hedge funds are facing pushback in California as their bets tied to insurance claims stemming from the Los Angeles wildfires are attacked as unethical.

Catastrophe risk information from government bodies and academic institutions would make it possible to insure more homeowners based on more granular assessment, according to insurance industry professionals.

Insured losses from natural catastrophes could soar to $145 billion this year as population growth, urban sprawl and climate change combine to supercharge risks, according to a report by Swiss Re Institute.

The global insurance protection gap was last estimated at $1.8 trillion, according to SAS.

Wall Street brokers have started selling insurers' claims tied to Los Angeles' deadly wildfires, which may trigger a payout from the utilities blamed for the destruction, according to people familiar with the matter.

Fremont, a Bay Area city of 226,000, in September became the first municipality in the nation to buy its own citywide flood insurance policy.

First came a dry spell that parched the land, then a spark, followed by some wind. Suddenly, swaths of South Carolina were consumed by voracious flames.

The governor aims to secure federal funding with latest executive order in aftermath of Los Angeles fires.

Many homes that burned in the Eaton Fire lay outside the boundaries of state- or local-designated "very high" fire hazard severity zones, Bloomberg Green found after analyzing inspection reports by the California Department of Forestry and Fire Protection, or Cal Fire, for more than 20,000 residential properties in areas affected by the recent wildfires.

California's insurance commission plans to impose a $1 billion assessment on private insurers to shore up the FAIR Plan.

A bill would allow homeowners to receive the interest accrued on insurance payments for lost or damaged property, rather than lenders.

Travelers Cos. said it expects about $1.7 billion of pretax losses from the wildfires that devastated Los Angeles last month.

Earlier this week, NOAA scientists and staff were told to log and clear all international contacts and communication, according to internal communications seen by Bloomberg News.

Aon, Floodbase and Swiss Re launch parametric hurricane-related storm surge insurance.