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☆ Home insurance premiums are projected to skyrocket up to 14% this year in these 13 states as climate change causes an 'insurance crisis'
▼ + stars: | 2024-10-22 | by ( Christine Ji | ) www.businessinsider.com time to read: +4 min

Homeowners everywhere are feeling the impact as home insurance premiums skyrocket. Here are the top 13 states where home insurance premiums are expected to increase the most in 2024. As hurricanes become more severe, neighboring states such as Alabama are seeing big increases in insurance prices. Even so-called "climate havens"— typically Midwestern states insulated from severe hurricanes and wildfires — aren't safe from a climate or insurance crisis. Listed below are the 13 states with climate-induced insurance crises and their projected home insurance rate increase in 2024, according to Insurify.

Persons: Hurricanes Milton, Helene, it's, Insurify Organizations: Service, Hurricanes, Hurricanes Milon Locations: Florida , California, Louisiana, Alabama, Vermont

High risk of natural disaster and extreme heat For two decades, they’ve also been some of the most popular places to move as Americans have flocked to the South and West. Much of Vermont, which is not highlighted as high risk in the maps above, saw devastating flooding last year following a record-breaking storm. Jacksonville Tallahassee Gainesville Daytona Beach Orlando Tampa HIGH HURRICANE WIND RISK Sarasota The Tampa metro area has been one of the fastest growing in the country. Many of these new residents have settled in coastal communities that are at high risk for hurricanes. Dallas-Fort Worth sits in an area at high risk for serious thunderstorms, hailstorms and tornadoes.

☆ I 'escaped' Texas for Tennessee. I loved the food and tech scene, but got tired of the heat and rising property taxes.
▼ + stars: | 2024-06-03 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +7 min

Read previewThis as-told-to essay is based on a conversation with Jim Ward, a 61-year-old who works in cybersecurity and moved from Dallas, Texas, to Knoxville, Tennessee, in 2022. AdvertisementAfter 20 years of living in the Dallas-Fort Worth area, my wife and I finally escaped to Tennessee two years ago. As far as geography goes, in the Dallas area, the terrain is predominantly flat with few trees. HUM Images/Universal Images Group via Getty ImagesWhile living in Texas, I had a job that required a lot of traveling. AdvertisementOur quality of life has improved in TennesseeThere are certainly several similarities between Tennessee and Texas, but I also see a lot of differences.

Persons: —, Jim Ward, There's, LeConte, Kevin Ruck, that's, we've Organizations: Service, Ward, Dallas, Business, DFW, Love, Getty, Dallas Fort Worth International Airport, Dallas Love Field, Houston, Tennessee Theatre Locations: cybersecurity, Dallas , Texas, Knoxville , Tennessee, Houston, Dallas, Texas, Fort Worth, Tennessee, Plano, Irving, Highland Village, Virginia, North Carolina, Highland, Knoxville, We're, Smoky

☆ ‘Ping pong-sized’ hailstones ravage famous French wine region
▼ + stars: | 2024-05-02 | by ( Julen Chavin | ) edition.cnn.com time to read: +3 min

CNN —A violent hailstorm wreaked havoc on vineyards in Chablis in the famous French wine region of Burgundy Wednesday evening, delivering another weather blow to already hard-hit local Chardonnay winemakers. The extent of the damage was still unclear as winegrowers checked over their plots on Thursday, a representative for the Burgundy wine association told CNN. “We’ve never seen anything like this, it’s dramatic,” Julie Fèvre, a winemaker, told BFM. Some 38 million bottles of Chablis Chardonnay wine are sold every year, generating an estimated $340 million turnover, according to the Burgundy wine association. Around 67% of Chablis wine is exported to foreign markets, the association said.

Persons: “ We’ve, Julie Fèvre, BFM, ” Paul, Étienne, we’ve, Vincent Laroche, Marc Fesneau, ”, Chablis, ” Louis Poitout, we’ll, CNN’s Laura Paddison Organizations: CNN, Chablis, BFMTV, International Organisation of Vine Locations: Chablis, Burgundy, France, “

DUBAI — One of the world's busiest airports temporarily halted operations as the United Arab Emirates experienced its heaviest rainfall on record. The airport said road blockages and flooding have prevented many passengers from reaching the airport for departing flights. Fly Dubai, a budget carrier owned by the government of Dubai, suspended all flights from the UAE hub until 10 a.m. local time on April 17, citing extreme weather. The UAE saw over 100 mm of rain, a 75 year record since the UAE began recording rainfall. It also advised people to take preventative measures to avoid property damage from heavy rain and hailstorms.

Organizations: United Arab Emirates, Dubai's, CNBC, Emirates, National, of Meteorology, Disaster Authority Locations: DUBAI, Dubai, UAE, Al Ain

☆ Jim Cramer adds three Bullpen stocks, including one that's a traffic cop for the internet
▼ + stars: | 2024-04-02 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

During our Investing Club Monthly Meeting last Wednesday, Jim Cramer announced three new additions to the Bullpen: Cloudflare , ServiceNow , and Nextracker . NET YTD mountain Cloudflare YTD The primary goal is reliability — making sure the website is managing traffic smoothly and, above all else, stays accessible. NOW YTD mountain ServiceNow YTD "They have become the great facilitator of much of the non-client facing AI at the enterprise and the government. NXT YTD mountain Nextracker YTD Previously this technology was considered too expensive, but Nextracker has been able to lower its costs to the point where it's now much more competitive. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, You've, Cloudflare, Matt Prince, Jim, he's, Cramer, ServiceNow, Nextracker, Goldman Sachs, Dan Shugar, Jim Cramer's Organizations: Nvidia, Accenture, NXT, Technologies, Barclays, Jim Cramer's Charitable, CNBC Locations: U.S, Nextracker

Spanish farmer Miguel Moreno was an early adopter of so-called cover crops. Spain's drought-hit olive oil production slumped to 663,000 tonnes last year, less than half the average of 1.45 million tons recorded in the previous four harvests, according to the government. In January, it began subsidising farmers who use cover crops as part of the new Common Agricultural Policy (CAP). She said the company was pushed both by customers such as Walmart in the U.S. and by regulation to buy olive oil from producers using sustainable practices. Ecology professor Manzaneda is also coordinator of EU-funded project SOIL O-LIVE and is testing methods for coaxing Albacete's degraded earth back to health.

Persons: Chiclana de Segura, Jon Nazca, Andrea Ronca, Miguel Moreno, Angel, Dcoop, Gonzalo Delacamara, Emilio Gonzalez, Antonio Manzaneda, Manzaneda, Olive, Syngenta, Luis Miranda, Domingo, Marco Trevisan, Dean, Simone Rech, Catalonia's Cava, Sebastiano Conti, Charlie Devereux, Antonella, Corina Pons, Keith Weir, Frank Jack Daniel Our Organizations: REUTERS, Companies Southern, VILLANUEVA DEL ARZOBISPO, Farmers, European Union, of Nutrition, Plant Science, IE, Water, University of Cordoba, University of Jaen, European, Walmart, Swiss, Syngenta, EU, TECH, Smart, Milan Polytechnic, University of Brescia, of Agricultural Sciences, Catholic University of Piacenza, Thomson Locations: Olive, Chiclana, Jaen, Spain, ROME, Italy, Madrid, European, France, Germany, Mantua, Andalusia, European Union, U.S, ITALY, Treviso, Venice, Sicily

☆ Nothing to toast as Italy loses wine-making leadership to France
▼ + stars: | 2023-09-12 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Jennifer Lorenzini/File Photo Acquire Licensing RightsROME, Sept 12 (Reuters) - Wine output in Italy looks set to fall 12% this year to below 44 million hectolitres after extreme weather and fungal diseases severely hit vineyards, Italian wine lobbies UIV and Assoenologi said on Tuesday. The tumble means Italy will lose its position as the world's largest wine producer, with France set to reclaim the number one spot for the first time in nine years. In a joint statement with food and agriculture institute ISMEA, the lobbies said that northern Italian regions were set to register a small 0.8% growth in output. "From the 2023 harvest we will certainly obtain good quality wines, with peaks of excellence," he said. Reporting by Federica Urso and Romolo Tosiani editing by Federico Maccioni/Keith WeirOur Standards: The Thomson Reuters Trust Principles.

Persons: Sergio Zingarelli, Jennifer Lorenzini, Assoenologi, grapevines, Riccardo Cotarella, Livio Proietti, Federica Urso, Federico Maccioni, Keith Weir Organizations: REUTERS, Rights, Thomson Locations: Chianti, Greve, Italy, France

☆ France pays winemakers to rip up vines as famous Bordeaux region faces uncertain future
▼ + stars: | 2023-08-28 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

A worker uses a backhoe to grub up an area of vines during snow fall in a vineyard in Haux, some 25 kms southeast of Bordeaux, southwestern France, on January 18, 2023. Those words from a wine producer in Bordeaux underscore the huge challenge facing the famous French region as it undergoes a massive transformation. "In the next five years, we will see less vines in Bordeaux," Sylvie Courselle, an agricultural engineer and enologist at Château Thieuley, told CNBC. "Climate change can accelerate this," Courselle told CNBC, adding that in recent years winemakers have had to deal with hailstorms, frosts and droughts that significantly impact the crop. She thinks that, going forward, the biggest challenge will be access to water — one of the most essential ingredients in wine production.

Persons: It's, Sylvie Courselle, Château Thieuley, Courselle Organizations: CNBC Locations: Haux, Bordeaux, France, Château

☆ Turkey earthquake contributed to $43 billion in first-half insurance losses, Munich Re says
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +1 min

BERLIN, July 27 (Reuters) - A deadly earthquake in Turkey and Syria as well as tornadoes and hailstorms in the United States contributed to losses covered by insurance of $43 billion in the first half of 2023, Munich Re (MUVGn.DE) said in a report released on Thursday. The figure is slightly lower than the $47 billion in insured losses incurred in the first half of 2022, but higher than the 10-year average of $34 billion, according to Munich Re, the world's largest reinsurer. Including uninsured losses, the figure came to $110 billion in the first half of the year - also significantly above the 10-year average. The earthquake in Turkey and Syria, in which some 58,000 people were killed, was the largest contributor to insured and uninsured losses incurred in the first half of 2023 at $40 billion. A series of severe thunderstorms in the U.S. brought destructive tornadoes and hailstorms that resulted in $35 billion in insured and uninsured losses, according to Munich Re.

Persons: Rauch, Alexander Huebner, Friederike Heine, Rachel More Organizations: Munich Re, El, Thomson Locations: BERLIN, Turkey, Syria, United States, Munich, U.S

CNN —Italy is facing multiple kinds of extreme weather at once, with southern parts of the country scorched by blistering heat, while the north is battered by deadly storms. On Tuesday alone, extreme weather killed at least three people, according to Italian authorities. Fabrizio Radaelli/EPA-EFE/ShutterstockAs storms disrupt the north, the south is sweltering under an extreme heat wave. Ufficio Stampa Gesap via ReutersMost budget airlines have been diverted to Trapani airport, according to the Palermo airport authority. Catania has also been affected by power and water supply cuts in part because of the extreme heat, according to Reuters.

Persons: Fabrizio Radaelli, Palermo’s Falcone, Falcone, Borsellino, Stampa, Nello Musumeci, ” Musumeci Organizations: CNN, Firefighters, SkyTG24, Stampa Gesap, Reuters, Twitter Locations: Italy, Veneto, Sicily, Palermo, Trapani, Catania

☆ Italian farmer battles frost, floods, heat and hail in epic year
▼ + stars: | 2023-07-20 | by ( Claudia Greco | ) www.reuters.com time to read: +3 min

[1/5] A farmer stands next to a greenhouse in a field covered with cracked solidified mud, in the aftermath of deadly floods in Emilia-Romagna, in Forli, Italy June 1, 2023. REUTERS/Claudia Greco/File PhotoFORLI, Italy, July 20 (Reuters) - Farmer Andrea Ferrini is on the frontline of climate change in Italy and it is hurting. The following month, rains and floods swept the region, killing 15 people, causing billions of euros' worth of damage and hitting agriculture particularly hard. According to the Coldiretti agricultural association, more than 5,000 farms were left under water in the region, which accounts for a third of Italy's fruit harvest, including Ferrini's smallholding. "A farmer prepares all year round for the harvest and then sees his crop destroyed in just a few minutes or a few hours.

Persons: Claudia Greco, Farmer Andrea Ferrini, Ferrini's, Ferrini, Crispian Balmer, Janet Lawrence Organizations: REUTERS, Thomson Locations: Emilia, Romagna, Forli, Italy, FORLI, Po

☆ When El Niño exacerbates global warming: Record heat, record flooding, record wildfires
▼ + stars: | 2023-07-15 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +11 min

Brown | Afp | Getty ImagesIf you feel like record-level extreme weather events are happening with alarming frequency, you're not alone. Global warming is making extreme weather events more severe, scientists said. But what is clear is that climate change makes it more likely that an extreme weather event will happen. "Higher temperatures from climate change are indisputable, and with each degree increase we're multiplying our changes of getting an extreme heat wave. Decreasing the greenhouse gas emissions released into the atmosphere by burning fossil fuels will help moderate the extreme weather trends.

Persons: Rai Rogers, Frederic J, Brown, Michael Mann, Brandon Bell, Phil Scott, Paul Ullrich, Mann, Ullrich, Justin Trudeau, El Niño, Timothy Canty, Canty, they're Organizations: Afp, Getty, University of Pennsylvania, CNBC, National Oceanic, Atmospheric Administration, NOAA, National Weather Service, Prediction, EMT, Emergency, Washington Post, The Washington Post, Anadolu Agency, University of California, Global, Wildfire, Bloomberg, University of Maryland, Government, Montreal Locations: Las Vegas , Nevada, California, Texas, Florida, United States, Northern, West Coast, Phoenix , Arizona, Nevada, Arizona, Montpelier , Vermont, Vermont, Canada, New York City, Anadolu, Davis, Lytton , British Columbia, El, Americas, Gulf, Pacific Northwest, Ohio, Northeastern, Ankara, Turkiye, Montreal

☆ Three die, farmland and trees damaged as storms sweep across China
▼ + stars: | 2023-06-11 | by ( ) www.reuters.com time to read: +2 min

BEIJING, June 11 (Reuters) - Three people died in eastern China after strong winds toppled a shipyard crane, authorities said on Sunday, as storms caused damage across the country, including large swaths of farmland. In Nanjing, the capital of Jiangsu province in eastern China, large trees were felled on Saturday, crushing vehicles and blocking roads, local media reported. The measures include 275 million yuan for prizes to family farms and cooperatives to encourage high yield, CCTV reported. On Friday, heavy rain hit parts of southwest China, including Guangxi, engulfing roads and partially submerging buildings. ($1 = 7.1273 Chinese yuan renminbi)Reporting by Ellen Zhang and Martin Quin Pollard; William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Hailstorms, Ellen Zhang, Martin Quin Pollard, William Mallard Organizations: Twitter, CCTV, Liaoning Meteorological Service Centre, Thomson Locations: BEIJING, China, Wuhu, Nanjing, Jiangsu, Liaoning, Wafangdian, Henan, Guangxi, rainstorms, Guangdong, Hainan, Hubei, Guangzhou

☆ India likely to get "below normal" monsoon rains in 2023 - Skymet
▼ + stars: | 2023-04-10 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, April 10 (Reuters) - India is likely to get "below normal" monsoon rains in 2023 with an increasing likelihood of El-Nino, which typically brings dry weather to Asia, private weather forecasting agency Skymet said on Monday. "Likelihood of El Nino is increasing and its probability to become a dominant category during the monsoon is growing large. El Nino return may presage a weaker monsoon," Jatin Singh, managing director, Skymet said in a statement. Monsoon rains in India are expected to be 94% of the long-term average, said Skymet, retaining its previous view of sub-par monsoon. Punjab, Haryana, Rajasthan and Uttar Pradesh, known as the agriculture bowl of North India, are likely to observe less than normal rains during the 2nd half of the season, the weather forecaster said.

☆ Weather threatens Indian winter crops just before harvesting
▼ + stars: | 2023-03-15 | by ( Rajendra Jadhav | ) www.reuters.com time to read: +2 min

MUMBAI, March 15 (Reuters) - Untimely rains and hailstorms could damage India's key winter-sown crops such as wheat, rapeseed and chickpeas just before harvesting begins for plants that have already suffered some heat stress, industry and weather department officials said. India's weather department has warned key growing states in central, northern, and western regions could receive more rain and hailstorms in the next 10 days. "Rainfall and hailstorms are raising concerns, since harvesting of winter crops just started. Farmers usually start planting wheat, rapeseed and chickpeas in October and November, and harvest them from the end of February. The maximum temperature in some wheat growing areas jumped above 39 degrees Celsius earlier this month, nearly seven degrees Celsius above normal, according to weather department data.

☆ Hurricane Ian was the costliest disaster and the second-largest insured loss on record after Hurricane Katrina
▼ + stars: | 2022-12-01 | by ( Emma Newburger | ) www.cnbc.com time to read: +1 min

Remains of destroyed restaurants, shops and other businesses are seen almost one month after Hurricane Ian landfall in Fort Myers Beach, Florida, U.S., October 26, 2022. REUTERS/Marco BelloHurricane Ian, a category 4 Atlantic hurricane that struck Florida and South Carolina earlier this year, was the costliest catastrophe and the second-largest insured loss on record after Hurricane Katrina in 2005, according to a new report from reinsurer Swiss Re. Ian caused between $50 billion and 65 billion in insured damages after it made landfall in western Florida in late September with extreme winds and torrential rain. Insurance losses from catastrophes were also high, with estimated damages of $115 billion, higher than the 10-year average of $81 billion, the report said. Insured losses from extreme weather events have been rising as climate change triggers more frequent and destructive hurricanes, floods and wildfires, the reinsurance firm said.

Standard homeowners insurance covers hail damage, but there may be an exclusion if you commonly get hail. Does homeowners insurance cover hail damage? Although standard homeowners insurance covers hail damage, some carriers do not cover "cosmetic damage" or "aesthetic impairment" from hail. In states where hail is common, a hail exclusion may require additional windstorm insurance to cover hail damage. Some states where hail is common have a "hail exclusion" that may require additional windstorm insurance to cover hail damage.

☆ Warren Buffett wants young people to know: Ignoring this is like 'leaving a car out in hailstorms'
▼ + stars: | 2019-04-12 | by ( Gillian Zoe Segal | ) www.cnbc.com time to read: +3 min

As with most things in life, Buffett says there's just one catch: It's the only car you're ever going to get...in your entire life. "If there's the least little bit of rust, you're going to get that fixed immediately so it doesn't spread — because you know it has to last you as long as you live." In other words, the way you treat your car should be no different than the way you treat your body. "You have only one mind and one body for the rest of your life," Buffett says. "If you aren't taking care of them when you're young, it's like leaving that car out in hailstorms and letting rust eat away at it.

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