Natural disasters

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.

Before the wildfires, California decided to pass on reinsurance costs to policyholders. After the fires, California is considering catastrophe bonds to help shore up the state's insurer of last resort. A consumer advocate says these measures concentrate too much risk locally and do not improve home insurance availability.

Terms of home insurance policies and rising construction costs will affect how those who lost their homes in the Los Angeles wildfires can rebuild.

California had the most natural disasters over the 20 year period according to a study from MoneyGeek.

New Zealand plans to introduce legislation before the end of the year that will create a framework to help communities and businesses adapt to the impacts of climate change.

The legislation would permit a state government conduit issuer to sell bonds to bolster the last-resort FAIR Plan in the wake of Los Angeles-area wildfires.

The recovery of local governments and utilities from hurricanes Helene and Milton continues but the outlook for next season and beyond is troubling.

Members whose districts include Altadena and Pacific Palisades are behind the measure, which calls for an initial 180-day forbearance period.

This attorney walks LA employers through what they need to get on the road to financial recovery.

Even the most-sophisticated scientific models fail to capture all the risk factors or properly account for the increasing impact of climate change.

It's not an unthinkable notion. There have been a handful of attempts at systematically moving populations away from regions severely affected by climate change.