Hurricanes News

A.M. Best Report: Last Resort Insurers Welcome Catastrophe Bond Market

The convergence market has provided an opportunity for entities that act as insurers of last resort to transfer some of their peak exposures to the capital markets, according to a Best’s Special Report titled, “Last Resort Insurers Welcome Relief From Growing Catastrophe …

Fitch: Hawaii Storms Shouldn’t Hurt Cat Bonds

Insured losses stemming from two Hawaii hurricanes won’t break the bank, in large part because both storms diminished in intensity or avoided a direct hit. Fitch Ratings concluded in a review of the situation that outstanding catastrophe bonds including the …

Louisianans Get Tax Holiday to Prep for Hurricane Season

This weekend, Louisiana residents looking to begin preparing for the 2014 hurricane season can store up emergency supplies with a little gift from the state. Flashlights, batteries, portable generators and other supplies are free from the 4 percent state sales …

U.K. Braces for Hurricane-Force Winds in Worst Storm Since 1990

Southern England is girding for 90 mile-per-hour winds as the biggest storm since 1990 is forecast to fell trees and damage buildings. Rain and high winds are predicted to lash the area on the evening of Oct. 27 through to …

Guide to Help Hawaii Boaters Prepare For Disasters

Hawaii boaters have a new guide to help them protect themselves and their vessels from natural disasters. The University of Hawaii and the state worked together to prepare the Hawaii Boater’s Hurricane and Tsunami Safety Manual. University of Hawaii Sea …

Downgraded Flossie Leaving Hawaii

The remnants of what was Tropical Storm Flossie are currently northwest of Kauai and moving away from the islands at about 15 miles per hour, according to catastrophe modeling firm AIR Worldwide. The Central Pacific Hurricane Center’s 8 a.m. (PST) …

Wildfires, Hail Take Toll on Colorado Homeowners Insurance

It’s safe to say there’s a lot going on in the homeowners insurance scene in Colorado, where homeowners insurance rates are likely to be on the rise for some time. Insured losses from the recently doused Black Forest fire should …

Researchers Develop New Metric to Measure Destructive Potential of Hurricanes

Researchers at Florida State University have developed a new metric to measure seasonal Atlantic tropical cyclone activity that focuses on the size of storms in addition to the duration and intensity, a measure that may prove important when considering a …

Texas Homeowners Pay Highest US Insurance Premiums

An industry group says Texas homeowners are paying the highest insurance premiums in the country. The report was released Tuesday by the National Association of Insurance Commissioners. The Dallas Morning News reported the study is based on premiums collected in …

Hurricane Sandy Strengthens to Category 2: RMS

Sandy has strengthened to a strong category 2 hurricane prior to landfall on the Cuban coast, after crossing over Jamaica as a cat 1 hurricane. The system is forecast to remain a hurricane (cat 1) as it passes through the …