Kenya’s Britam Plans Further African Expansion Following Upcoming Entry into Congo

Kenya’s largest insurer company by market value, Britam Holdings Ltd., is planning to expand its presence in African countries where insurance is still uncommon. The company aims to increase its revenue by growing in regions with low insurance use. Britam, which already operates in seven African nations, said it prefers buying existing businesses over starting … Read more

Markets/Coverages: Liberty Mutual Re and Safehub Introduce Parametric Earthquake Insurance Coverage

Liberty Mutual Reinsurance and Safehub have teamed up to launch a new earthquake insurance product called ShakeNet Parametric. This innovative insurance solution uses detailed earthquake shaking data from Safehub’s network of sensors, backed by Liberty Mutual’s reinsurance support. The partnership aims to offer faster and more accurate payouts after earthquakes, helping those affected recover sooner. … Read more

Intense Rainfall Triggers Flooding, Landslides, and Fatalities in Vietnam and Thailand

Heavy rain swept through parts of Southeast Asia this week, causing severe flooding and landslides that have claimed at least eight lives. The storm’s impact was most felt in northern and central Vietnam and northern Thailand, where communities are still coping with the damage. In Vietnam, heavy rains led to flooding across several provinces. Officials … Read more

The Specter of Hurricane Katrina Shadows Catastrophe Modelers

When Hurricane Katrina hit New Orleans in August 2005, it caused the biggest insurance losses ever seen from a natural disaster. The city’s flood defenses – walls, levees, and pumps – failed to hold back the water. But it wasn’t just the infrastructure that let people down. The models insurers used to predict and price … Read more

NOAA Creates Tool to Forecast Hourly Wildfire Risks in the US

Scientists at the National Oceanic and Atmospheric Administration (NOAA) have developed a new tool to better predict wildfire risks across the United States. Based in Boulder, Colorado, NOAA’s Global Systems Laboratory spent several years creating an index that provides hourly updates on wildfire potential. This means forecasters, firefighters, and land managers can get more detailed … Read more

A Texas Congressman Is Discreetly Supporting Elon Musk’s Proposal to Construct $760 Million Flood-Relief Tunnels Beneath Houston

Houston’s efforts to prevent devastating flooding have hit a new twist as Elon Musk has entered the conversation with a bold proposal. After Hurricane Harvey flooded the city in 2017, local experts have studied building massive tunnels to carry floodwater to the Gulf of Mexico. Now, Musk’s Boring Company, backed by Houston Congressman Wesley Hunt, … Read more