Insurance

Misinformation on Cloud Seeding Swirls After Deadly Texas Floods

Within the aftermath of devastating floods in Texas, social media customers have unfold misinformation that cloud seeding is guilty. Meteorologists have been fast to debunk the declare, however the rumors underline how climate generally is a magnet for conspiracy theories.

There is no such thing as a proof that climate modification actions brought on the acute rainfall in Texas, which triggered flash flooding on Friday and claimed a minimum of 89 lives. Days earlier than the deluge that introduced over a foot of rain, the US Nationwide Climate Service warned of domestically heavy precipitation in components of Texas and the Southwest introduced by monsoonal moisture, in addition to remnants of a tropical storm that made landfall in Mexico the week prior.

However on social media, outstanding accounts with massive followings amplified claims suggesting that the Texas floods might have been attributable to cloud seeding, a type of climate modification.

By now, it’s a well-recognized sample: An excessive climate occasion happens, and unfounded theories about its trigger rapidly emerge and unfold on-line. Usually, these claims crumble on nearer scrutiny of the info. Related conspiracies that cloud seeding brought on damaging floods throughout the United Arab Emirates popped up final 12 months — assertions that meteorologists quickly debunked.

“I perceive why feelings are operating excessive and individuals are scrutinizing cloud seeding to see if it’s guilty,” stated Augustus Doricko, Rainmaker Expertise Corp. chief govt officer. “Categorically, it’s not.”

Based on Doricko, Rainmaker flew a quick 20-minute cloud seeding mission in south-central Texas final Tuesday, however suspended all operations that very same day as a consequence of abnormally excessive moisture content material within the air. The 2 clouds seeded through the Tuesday flight would have dissipated after a number of hours and would have had no impact on the floods a number of days later, he added.

Cloud seeding entails utilizing chemical substances, usually particles of silver iodide, to set off the formation of ice crystals or droplets from water that’s already current in a cloud however not being effectively become rain. Although the approach has been studied for many years, it remains difficult to foretell the extra rainfall that cloud seeding operations can generate, with estimates ranging extensively from 0% to 20%.

What’s clear is that the approach wouldn’t have been in a position to generate the record-breaking rainfall seen in Texas. A lot rain fell that the Guadalupe River at Kerrville, one of many epicenters of the floods, rose some 26 ft (8 meters) in lower than an hour in a single day on Friday.

“Primarily based on the meteorological proof, the Texas floods have been attributable to a robust pure climate system, with thunderstorms fed by very moist air from the nice and cozy Gulf of Mexico,” stated Andrew Charlton-Perez, professor of meteorology on the College of Studying within the UK.

He added that climate balloon knowledge collected the day previous to the floods yielded very excessive atmospheric moisture readings, and that the Nationwide Climate Service had predicted very excessive rainfall totals prematurely.

“Cloud seeding performed ZERO function in lethal Texas floods,” Matthew Cappucci, a meteorologist, wrote on X. “Rudimentary, primary physics explains that.”

Emergency managers and households are additionally coping with different sources of misinformation, Kerrville Metropolis Supervisor Dalton Rice stated at a Monday press convention. They embody pretend calls and scammers claiming they’ve lacking youngsters and can return them for cash.

Doricko stated he hopes to see a clearer regulatory framework round cloud seeding and larger public consciousness of the results and limits of climate modification applied sciences.

“That will mitigate individuals’s unfounded issues round climate modification when extreme climate occasions like this occur,” he stated.

Matters
Texas
Flood

Involved in Flood?

Get computerized alerts for this matter.

Intellectuals Insider

+ posts

Insurance

Richard Li’s FWD Rises in HK Debut, Reversing Earlier Drop

FWD groups listing ceremony at hong kong stock exchange bloomberg scaled

Billionaire Richard Li’s FWD Group Holdings Ltd. rose in its Hong Kong buying and selling debut, reversing earlier declines, after an preliminary public providing that raised HK$3.5 billion ($442 million).

The insurer’s inventory climbed 1.1% to HK$38.40 on Monday, reversing a drop of as steep as 2.5%.

fwd founder richard li bloomberg — FWD founder Richard Li ; picture credit score: Chan Lengthy Hei/Bloomberg

Now, with Hong Kong’s fairness markets rebounding, Li is seizing a extra favorable window to boost capital for the crown jewel of his enterprise empire. Buyers’ sentiment has been buoyed by a wave of multibillion-dollar offers, with IPOs and follow-on choices elevating $37.4 billion to this point in 2025 — the best because the record-breaking yr of 2021 and a pointy bounce from $5.1 billion throughout the identical interval final yr.

“It’s been an extended journey,” FWD Chief Govt Officer Huynh Thanh Phong mentioned in a Bloomberg TV interview. “Hong Kong, as you possibly can see, is again in a giant manner, and we’re extraordinarily pleased to be a part of that comeback story post-COVID.”

The town’s inventory benchmark, the Cling Seng Index, has risen about 20% for the yr. Insurers have been notably sizzling currently, with shares of AIA Group Ltd. and Prudential Plc every rising since their April lows.

Criss Wang, an analyst who writes on the Smartkarma platform, mentioned that though FWD’s inventory might seem low-cost based mostly on e book ratios, issues concerning the firm’s potential impairment dangers justify FWD shares buying and selling at decrease valuations than native friends.

Richard Li, who based the corporate in 2013, owns a 66.5% stake in FWD by means of varied company entities. His stake in FWD accounts for two-thirds of his $6.1 billion web price on the IPO value, in keeping with the Bloomberg Billionaires Index.

The insurer plans to make use of the proceeds to cut back debt, help progress and improve its digital capabilities.

Prime {photograph}: Richard Li, left, attends FWD Group’s itemizing ceremony on the Hong Kong Inventory Trade on July 7, 2025. Picture credit score: Lam Yik/Bloomberg

Associated:

An important insurance coverage information,in your inbox each enterprise day.

Get the insurance coverage trade’s trusted e-newsletter

Intellectuals Insider

+ posts

Insurance

Insurtech Wefox Raises €151M to Build New MGA Focus, Core Markets

businessman takes stair to success 476486059 bigstock

Insurtech wefox has secured funding of €151 million ($177.8 million), which can allow the corporate to construct its core market positions in Austria, the Netherlands, and Switzerland in addition to its asset-light managing basic agent (MGA) and sensible insurance coverage distribution companies internationally.

Funding comprised a €76 million ($89.5 million) capital increase primarily from its current investor base in addition to refinancing of an current credit score facility with €75 million ($88.3 million) from Searchlight Capital Companions’ credit score fund, Searchlight Alternatives Fund II.

The funding follows the profitable completion of the group’s business restructuring program, which included the closing of the gross sales of Liechtenstein-based wefox Insurance coverage AG and the Italian corporations wefox MGA S.r.l. and wefox Providers Italy S.r.l.

Based in 2015, wefox has confronted some monetary difficulties lately, attributed to the capitalization required for its insurance coverage companies. On account of these challenges, wefox took a sequence of restructuring initiatives which included the shedding of non-core belongings whereas refocusing its portfolio on worthwhile market positions of important measurement.

In Austria, wefox provides essentially the most superior digital platform for retail insurance coverage brokers within the native market, which has positioned it to turn out to be the main wholesale dealer, the corporate mentioned.

Within the Netherlands, wefox is the primary participant within the Dutch term-life market beneath the TAF model, offering buyer propositions with its full-service MGA mannequin, the corporate mentioned, including that it’s a top-ranked participant in retail insurance coverage distribution in Switzerland.

“By additional strengthening its partnerships with insurance coverage corporations and by scaling its native distribution platforms, wefox is positioned for sustainable income progress and margin growth in its present markets and past,” the corporate continued.

With the profitable completion of the refinancing, the composition of the board of administrators of wefox Holding AG has modified. Prateek Puri, accomplice at Searchlight Capital Companions, and Joachim Mueller, CEO, have joined the board. Julian Teicke, Fabian Wesemann, Dario Fazlic and Nikolaus Frei have now left the board.

“Altering buyer wants, new regulatory necessities, and new technological capabilities are remodeling the insurance coverage worth chain. Our strengths and our deal with MGA and sensible distribution providers make us a lovely accomplice for danger carriers and downstream brokers,” commented Mueller in a press release.

“We imagine that our compelling providing and our sensible, asset-light enterprise mannequin will create worth for our prospects, our enterprise companions and our traders,” he added.

Zurich-based wefox is a European insurance coverage platform that mixes sensible insurance coverage distribution and MGA providers. With main market positions in Austria, the Netherlands and Switzerland, wefox works intently with insurance coverage carriers and a broad community of distribution companions.

Matters
InsurTech
Tech
Insurance Wholesale

Keen on Funding?

Get computerized alerts for this subject.

Intellectuals Insider

+ posts

Insurance

Chantal Rain Brings Flash Flood Worries in Carolinas, Virginia

chantal

MIAMI (AP) — Tropical Storm Chantal was downgraded to a despair Sunday however raised considerations of doable flash flooding because it makes its manner by way of central North Carolina towards south-central Virginia.

Chantal made landfall close to Litchfield Seaside, South Carolina, at about 4 a.m. EDT Sunday, the Nationwide Hurricane Heart in Miami mentioned. At 5 p.m., it was positioned about 65 miles (105 kilometers) south-southwest of Raleigh, North Carolina, and was transferring north-northeast at 10 mph (17 kph) with most sustained winds of 30 mph (45 kph).

The system was anticipated to show extra to the northeast late Sunday because it weakens over North Carolina however could strengthen barely because it approaches the Virginia Capes on Monday. Flood watches had been issued for central North Carolina and south-central Virginia by way of Monday, with complete rainfall of two to 4 inches (5 to 10 centimeters) and native quantities as much as 6 inches (15 centimeters) that might result in flash flooding, the hurricane middle mentioned.

Forecasters mentioned harmful surf and rip currents at seashores from northeastern Florida to the mid-Atlantic states are anticipated to final for the subsequent couple of days.

Matters
Flood
Virginia

Was this text precious?

Listed here are extra articles chances are you’ll get pleasure from.