Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Karen Clark & Co. Estimates $350M Insured Loss from Hurricane Hanna
Jul 28 2020 // Catastrophe risk modeling firm, Karen Clark & Company (KCC) has estimated the insured loss from Hurricane Hanna, which made landfall on Padre Island, Texas, on July 26, will be close to $350 million, excluding National...
Hawaiian Islands Avoided Direct Hit From Hurricane Douglas
Jul 28 2020 // Hawaii avoided a direct hit from Hurricane Douglas and the Category 1 storm was swirling just north of the island chain. The Central Pacific Warning Center lifted the hurricane warning on Monday for the island of Kauai,...
Removal of Wrecked Cargo Ship in Georgia Port Stalled by Virus, Hurricane Season
Jul 28 2020 // Efforts to cut apart and remove a capsized cargo ship off the Georgia coast are being delayed for more than two months because of hurricane season and challenges posed by the coronavirus, project leaders said Friday. Those...
Anchorage Tsunami Alerts Were Sent by Mistake, Officials Says
Jul 27 2020 // The magnitude 7.8 earthquake in the Aleutian Islands last week should not have sent tsunami alerts as far as Anchorage, Alaska’s most populous city, the Alaska Tsunami Warning Center said. The warnings were justified...
AIR Worldwide Releases Updated Earthquake Model for Australia
Jul 27 2020 // Catastrophe risk modeling firm AIR Worldwide (AIR) announced the release of its updated Earthquake Model for Australia. These updates were prompted by findings in the National Seismic Hazard Model from Geoscience Australia...
Update: Tropical Storm Hanna Headed Toward South Texas
Jul 24 2020 // A storm churning in the Gulf of Mexico that yesterday was a tropical depression is now Tropical Storm Hanna, the National Hurricane Center has reported. TS Hanna’s center is currently located south of the...
Global Natural Catastrophe Losses During H1 Ranged from $68B to $75B: Munich Re, Aon
Jul 24 2020 // Munich Re and Aon both issued reports this week on the economic and insurance costs of global natural catastrophes during the first half, which varied in magnitude by $7 billion. While Munich Re estimated that natural...
London’s International Underwriting Association Publishes New Motor Terrorism Clause
Jul 24 2020 // A new model clause for clarifying coverage of motor terrorism risks has been published by the International Underwriting Association. It has been developed after a growing spate of terrorist attacks using vehicles led to...
Tropical Depression 8 Stirs Up the Gulf with TS Gonzalo on the Approach
Jul 23 2020 // A tropical depression in the Gulf of Mexico off the coast of Louisiana could become a tropical storm within the next 24 hours, the National Hurricane Center has warned. At 10 am Atlantic Standard Time on July 23, the NHC...
Magnitude 7.8 Quake Hits Alaska Isles, Tsunami Threat Didn’t Materialize
Jul 23 2020 // A powerful 7.8 earthquake struck the Alaska Peninsula late Tuesday, triggering a tsunami warning that sent residents fleeing to higher ground before it was called off without any damaging waves. Hundreds wore masks against...
Travelers Reports Q2 Loss on Catastrophes, Investments; Only Modest COVID Impact
Jul 23 2020 // The Travelers Companies reported a net loss of $40 million for the quarter ended June 30, 2020, compared to net income of $557 million in the prior year quarter. The insurer said the difference was primarily due to higher...
Committee Recommends No Rate Hike for Texas Windstorm Insurer
Jul 23 2020 // The Actuarial and Underwriting Committee of Texas’ insurer of last resort for wind and hail coverage for properties in the state’s coastal counties voted on July 21 to recommend a 0% rate increase to its board...
Northern California Wildfire Growing, 2 Firefighters Injured
Jul 22 2020 // Firefighters and aircraft are working to halt the spread of two forest fires in rural northeastern California as unstable weather brought the risk of gusty winds, thunderstorms and lightning strikes that could start new...
QBE Expects H1 2020 Loss of US$750M on COVID-19, Natural Catastrophe Claims
Jul 22 2020 // QBE Insurance Group expects to report a first-half, after-tax loss of around $750 million, mainly due to COVID-19 claims and natural catastrophes, which included Australia’s bushfires and hailstorms at the beginning...
Magnitude 3.7 Earthquake Hits Southwest Utah
Jul 22 2020 // A minor earthquake struck a remote corner of Utah early Tuesday, the U.S. Geological Survey confirmed. The USGS reported that the magnitude 3.7 quake shook the desert at 3:44 a.m. local time. The epicenter was in...
January’s Hailstorms in Australia Cost Insurers an Estimated A$1.8B (US$1.3B): PERILS
Jul 21 2020 // The industry loss footprint for the January 2020 Australian hailstorms, which occurred Jan. 19-21, 2020, are estimated at A$1.8 billion (US$1.3 billion), according to PERILS, the independent Zurich-based organization that...
Texas Windstorm Rate Filing Consideration Process Now Underway
Jul 20 2020 // July 17 was the last day the Texas Windstorm Insurance Association’s (TWIA) Actuarial & Underwriting Committee accepted comments on its annual rate filing process, which officially begins on July 21 when the...
Louisiana, Army Corps at Odds over Repair of Barrier Island Hit by TS Cristobal
Jul 20 2020 // Tropical Storm Cristobal ate away the beach of Louisiana’s only inhabited barrier island to the huge sand-filled tube at the core of a protective levee, and the Army Corps of Engineers says permits and studies keep...
Thousands of Acres of Crops Destroyed by Hailstorm in Minnesota
Jul 20 2020 // Agricultural experts have been tallying the crop damage caused by a recent storm that packed 50 mph winds and baseball-sized hail in parts of Minnesota. The storm was a blow for farmers from Kandiyohi County to Nicollet...
Scientist Says Chances of Big One on San Andreas Greater Than We Believed
Jul 17 2020 // Get ready for the big one. That’s a refrain Californians have heard for years, but this time one scientist is putting a number on it. There’s a 1% chance a big quake will strike next year on the Southern...
