, APAC
/Denniz Futalan from Pexels

Flood risks, infrastructure concerns increase globally

Japan and Taiwan’s notable earthquakes prompted better seismic risk assessments.

The second half of 2024 is expected to bring an active North Atlantic hurricane season due to record-warm sea surface temperatures and the transition to La Niña. 

WTW's biannual Natural Catastrophe Review details the major natural disasters in early 2024, examining their causes and emerging trends. 

The report also explores increasing flood risks, infrastructure vulnerabilities, and the impact of record-breaking global temperatures.

Notable events included the U.S. experiencing above-average tornadoes and storms, resulting in over $30b in insurance claims. 

Severe flooding impacted Brazil, East Africa, Dubai, Australia, China, the US, and Germany. 

Japan and Taiwan faced significant earthquakes, whilst Texas saw its largest wildfire, and the Mediterranean suffered from severe drought affecting food supply chains.

“In early 2024, major earthquakes struck Japan and Taiwan. Improved resilience and preparedness measures significantly reduced human casualties and damage; however, some building and infrastructure failures still occurred,” WTW said in an insight.

“WTW’s Arash Nassirpour, Elide Pantoli and James Dalziel explain that in Japan, most failures were concentrated in areas prone to liquefaction, while in Taiwan, soft-story collapse was the primary issue. These problems highlight the ongoing need for comprehensive seismic risk assessments, retrofitting vulnerable structures, and updating construction practices and codes.” it added.

 

Follow the link for more news on

Join Insurance Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!