The World Bank is advising South Africa’s National Treasury on a climate risk strategy after floods in recent years caused billions of dollars of damage. The country may take out climate insurance or establish a contingency fund to deal with …
Natural disasters in 2022 brought global economic losses of US$275 billion, of which insurance covered 45%, or US$125 billion, according to Swiss Re’s latest sigma report. Claims from Hurricane Ian in Florida, record breaking losses from hailstorms in France, floods …
South Africa’s deadliest floods in almost three decades was exacerbated by climate change and similarly heavy rainfall can be expected to occur more regularly, according to scientists collaborating under the World Weather Attribution initiative. Rainfall in the southeastern KwaZulu-Natal province …
South Africa declared floods that killed more than 300 people in the eastern KwaZulu-Natal province a disaster, enabling the government to free up funds to assist with reconstruction in the area. The heaviest rainfall in at least six decades last …
