Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Insurtechs’ Approach to Wildfire Insurance: Part I – Delos
Jan 21 2025 // While the Los Angeles wildfires inch closer toward containment, estimates of insured losses continue to creep higher. CoreLogic said the industry price tag of the Palisades and Eaton fires could land between $35 billion...
Los Angeles Pushes to Rebuild Homes Fast, Despite Wildfire Danger
Jan 17 2025 // California politicians are rushing to make it easier for residents to rebuild their homes incinerated in the Los Angeles firestorms. That means waiving green construction mandates designed to combat climate change —...
Smoke, Coverage Issues Cloud Wildfire Forecast: $35-$45B Losses Insured
Jan 17 2025 // CoreLogic announced a preliminary range of insured losses for the Eaton and Palisades Fires in Los Angeles of $35 billion to $45 billion, but there are a lot of factors that could change the numbers. “We don’t...
Will California’s FAIR Plan Have Enough Cash for Its Wildfire Claims?
Jan 16 2025 // There has been some question about whether California’s insurer of last resort – the FAIR Plan – has enough cash on hand to pay for its share of wildfire claims. As surplus is inadequate and reinsurance has a...
A Los Angeles Actuary on Lessons From the Palisades Fire
Jan 16 2025 // I watched as the skies over my home in Los Angeles turned an apocalyptic orange on January 7, 2025, as wildfires raged across the state. Among the most devastating, the Palisades Fire consumed thousands of acres, leaving a...
Too High? Too Low? BMS Analyzes Early Wildfire Insured Loss Estimates
Jan 16 2025 // Industry analysts’ early estimates of insurance industry losses for the January 2025 California wildfires have already grown from $8 billion to $40 billion-plus—with many noting that it’s too early for...
Georgia Lawmakers to Take up School Safety, Hurricane Relief as Session Starts
Jan 15 2025 // ATLANTA (AP) — Georgia Gov. Brian Kemp on Monday proposed giving public schools a one-time additional $50 million to spend on school safety, but his plan falls short of the increased counseling resources school officials...
Update: LA Wildfire Insurance-Loss Estimates Approach $40 Billion
Jan 14 2025 // The cost of wildfires ravaging swaths of Los Angeles keeps rising, with new estimates of the total losses for the insurance industry now seen as high as $40 billion. The fresh figure Jan. 14 from Keefe Bruyette & Woods...
Canadian Insured Losses From Catastrophic Events Total C$8.5 Billion in 2024: CatIQ
Jan 13 2025 // The magnitude of catastrophic events experienced across Canada in 2024 pushed the insured loss total for the region to C$8.5 billion (US$5.9 billion), according to Catastrophe Indices and Quantification Inc. (CatIQ),...
California Wildfires Wrapup: Aerial Assault Aims to Stem LA Palisades Fire Spread
Jan 11 2025 // LOS ANGELES, Jan 11 (Reuters) – Aircraft dropped water and fire retardant on steep hills to stem the eastward spread of the Palisades wildfire in Los Angeles on Saturday as on-the-ground firefighting intensified amid...
The Most Important LA Wildfire Stories to Know About
Jan 10 2025 // As firefighters gain more control over what have become the most destructive wildfires in U.S. history in a matter of days, the scale of the destruction and losses is becoming clearer. Despite the cacophony of a world...
Update: Re/Insurer Losses From LA Wildfires Expected to Be Significant but Manageable
Jan 10 2025 // Insurers are facing significant losses from the catastrophic Los Angeles wildfires — given the high value of homes and businesses in the affected communities. However, those losses are likely to be manageable for...
Edison Denies LA Wildfire Involvement as Insurers Ask It to Preserve Evidence
Jan 10 2025 // Southern California Edison said on Thursday it had received notices from insurance companies to preserve evidence related to the Eaton Fire that is still burning in Los Angeles, but said no fire agencies have pointed the...
Catastrophe Bond Funds Say They’ll Dodge Losses as LA Fires Rage
Jan 10 2025 // The wildfires sweeping through Los Angeles are unlikely to trigger significant losses for catastrophe bonds designed to capture such risks. Roughly 12% of the $50 billion cat-bond market is currently exposed to wildfire...
Insured Losses From Los Angeles Wildfires Rising: $8B to $20B
Jan 9 2025 // Editor’s note: This story has been updated with new AccuWeather total loss estimates. With aerial firefighting returning as strong Southern California winds died down for a bit, damage assessments from a handful of...
Major Florida Citrus Grower to End Operations After Years of Hurricanes and Blight
Jan 9 2025 // ORLANDO, Fla. (AP) — A major grower said this week it is abandoning its citrus growing operations, reflecting the headwinds Florida’s signature crops are facing following a series of hurricanes and tree...
Oregon’s New Rules for Homeowners Living in Certain High-Risk Wildfire Areas
Jan 9 2025 // Oregon homeowners living in certain areas at high risk of wildfire will face stricter building codes and mandates to reduce vegetation on their properties under new “wildfire hazard maps” unveiled Tuesday. The...
California Wildfires Will Likely Lead to Large Economic and Insured Losses
Jan 8 2025 // Active wind-driven wildfires in Southern California that are estimated to have burned more than 1,000 properties and prompted evacuation orders for more than 80,000 residents will likely lead to what industry watchers say...
Tibet Earthquake Kills at Least 126 People, Leaves Many Trapped
Jan 8 2025 // A strong earthquake shook a high-altitude region of western China and areas of Nepal on Tuesday, damaging hundreds of houses, littering streets with rubble and killing at least 126 people in Tibet. Many others were trapped...
Thousands Flee From Uncontrolled Wildfires Burning Near Los Angeles
Jan 8 2025 // Millions of people in California face at least two more days of dry, hot winds that have fanned fires across Los Angeles County and sent residents fleeing for their lives. Hurricane-force wind gusts of as much as 86 miles...
