Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Global Natural Catastrophe Insured Losses Exceed $102B During Q1-Q3 2024: Aon
Oct 29 2024 // The third quarter of 2024 saw a significant number of natural disaster events, which drove year-to date economic losses above at least $258 billion and insured losses of at least $102 billion, according to Aon plc in its...
Program Uses AI to Send Cash Payments to 1,000 Households Hit by Hurricanes
Oct 29 2024 // Nearly 1,000 hurricane-impacted households in North Carolina and Florida will benefit this week from a new disaster aid program that employs a model not commonly used by philanthropy in the United States: Giving people...
Delta Sues CrowdStrike Over ‘Catastrophic’ Software Glitch
Oct 29 2024 // Delta Air Lines Inc. sued cybersecurity firm CrowdStrike Holdings Inc. over the chaos caused this summer by a “catastrophic” software update that disabled millions of computers worldwide and grounded much of...
Washington Commissioner: Most Homes in 2023 Wildfire Were Underinsured
Oct 29 2024 // An analysis of the claims paid out after the Gray and Oregon Road fires in Washington last year found that most of the homes destroyed were underinsured. The fires destroyed 366 homes, burning more than 20,000 acres...
Rebuilding from Hurricanes Hinges on Immigrants at Center of US Election
Oct 28 2024 // The efforts to rebuild in Southeastern states after a pair of destructive hurricanes are at risk of being drawn out by shortages of a critical supply of workers: migrants. Builders are anxious about proposals laid out by...
Revolutionizing Catastrophe Modeling with CoreLogic’s Navigate™: A Cloud-Based Approach
Oct 28 2024 // This post is part of a series sponsored by CoreLogic. Take control of your risk management strategy In today’s rapidly changing risk management environment, efficiency isn’t just an advantage—it’s...
Catastrophe-Bond Funds Suffered Virtually No Losses From Hurricane Milton
Oct 25 2024 // After two weeks of number-crunching, it now seems clear that investors in catastrophe bonds emerged from Hurricane Milton relatively unscathed. In fact, holders of the bonds may be looking at returns of as much as 12%,...
Hurricane Milton Caused $1.5B-$2.5B in Losses to Florida Agriculture
Oct 22 2024 // Hurricane Milton caused an estimated $1.5 billion to $2.5 billion in damage to Florida’s crops and agricultural infrastructure, according to a preliminary assessment released by the state’s Department of...
Claims from Hurricane Milton Continue to Rise in Florida
Oct 22 2024 // Almost two weeks after Hurricane Milton made landfall near Sarasota, Florida, as a Category 3 storm, claims and loss totals continue to rise. As of Oct. 21, the Florida Office of Insurance Regulation said carriers had...
Cuba Hit by Tropical Storm Oscar as It Struggles to End Blackout
Oct 21 2024 // Cuba was dealing with heavy rains and winds today from Tropical Storm Oscar, even as it continues to deal with a prolonged blackout affecting a large swath of the island. According to the U.S. National Hurricane Center,...
South Africa Mulls Rules for Catastrophe Bonds, Climate Cover
Oct 21 2024 // South Africa’s National Treasury is exploring regulations to encourage the use of financial instruments to tackle climate change, including catastrophe bonds and parametric insurance. “We are looking at how...
Maui Wildfire Survivors Will Get An Additional Year of Housing Help From FEMA
Oct 18 2024 // Survivors of last year’s deadly wildfire that decimated a historic Maui town will receive an additional year of housing assistance from the Federal Emergency Management Agency. Housing has been a major challenge in...
Wuuii Partnering with IBHS on Wildfire Prepared Home Option for Californians
Oct 18 2024 // Wuuii is partnering with the Insurance Institute for Business and Home Safety to combine IBHS’ Wildfire Prepared Home program and Wuuii’s Madronus Wildfire Defense network to offer an option for California...
Allstate Reports $1.7B in Q3 Pretax Catastrophe Losses, $630M From Helene
Oct 17 2024 // Allstate Corp. doesn’t announce third quarter earnings until Halloween but today it released some scary September pretax catastrophe losses. In keeping with its initiative to announce monthly catastrophe losses that...
HCI Group Expects to Pay $600M to $750M in Claims from Recent Hurricanes
Oct 17 2024 // Publicly traded HCI Group, the Tampa-based holding company for Homeowners Choice Property & Casualty, TypTap and a new condominium insurance reciprocal, is one of the first Florida insurers to report estimated losses...
Hurricane Milton Insured Losses in $30B-$50B Range, Says Verisk
Oct 16 2024 // Catastrophe modeler Verisk said it expects insured losses from Hurricane Milton will be between $30 billion and $50 billion from damages caused mostly by wind. Verisk’s Extreme Event Solutions group said the range...
Explaining Deductibles After Multiple Florida Hurricanes
Oct 16 2024 // Deductibles serve several purposes. They provide some premium relief for the insured. They make insureds less likely to file smaller claims because either damage falls within the deductible, or is so close to it that the...
Far From Milton’s Eye, Tornadoes Wrought Unexpected Damage
Oct 16 2024 // WELLINGTON, Fla. (AP) — Tony Brazzale, a diving boat captain who has lived for 10 years in his Wellington home in southeastern Florida, wasn’t worried about Hurricane Milton. The storm’s center was forecast...
Volunteers Bring Solar Power to Hurricane Helene Disaster Zone
Oct 15 2024 // Nearly two weeks after Hurricane Helene downed power lines and washed out roads all over North Carolina’s mountains, the constant din of a gas-powered generator is getting to be too much for Bobby Renfro. It’s...
KCC Expects Private Insured Losses of $36B From Hurricane Milton
Oct 15 2024 // Florida’s Hurricane Milton caused private insured losses of about $36 billion, estimated catastrophe modeler Karen Clark & Co. The estimate includes losses from wind, storms surge, and inland flooding to...
