Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Insured Losses from Australia’s Hailstorms Hit US$352.5 Million
Jan 24 2020 // The Insurance Council of Australia (ICA) has declared a catastrophe for damage caused by hailstorms that struck eastern Melbourne, the Australian Capital Territory and parts of New South Wales on Sunday and Monday (Jan....
Natural Catastrophe Losses in 2019 Down 18% from Annual Average: Willis Re Report
Jan 23 2020 // Insured losses from major natural catastrophes in 2019 totaled roughly $53.0 billion, about 18% lower than the annual average since 2011, according to a report from Willis Re. This figure compares with Aon’s recently...
Travelers Reports Strong Q4, Full Year Results on Lower Catastrophe Losses
Jan 23 2020 // Strong quarterly and full year 2019 results for Travelers Cos. were helped by lower catastrophe losses and premium hikes. Net income rose to $873 million in the fourth quarter ended Dec. 31 from $621 million for the same...
Ratings Agencies Disagree Over Financial Strength of Florida Family Insurance Co.
Jan 23 2020 // The credit ratings of homeowners insurer Florida Family Insurance Co. and its subsidiary, Florida Family Home Insurance Co., have been downgraded by AM Best due to a deterioration in underwriting results for the insurer....
Natural Disasters in Past Decade Broke Records for Economic, Insured Losses: Aon
Jan 22 2020 // The past decade broke new records in terms of economic damages and insured losses, according to Aon’s latest catastrophe report. The costs to global economies reached US$2.98 trillion between 2010 and 2019, which was...
North Carolina Awarded $281M for Hurricane Damage by Army Corps
Jan 22 2020 // The Army Corps of Engineers will award $281 million to a North Carolina city and county heavily impacted by Hurricanes Matthew and Florence. The Corps will release $237 million to Surf City/ North Topsail Beach and $44.5...
Earthquake Felt in Eastern Tennessee, Kentucky
Jan 22 2020 // A small earthquake hit East Tennessee on Monday, officials said. The U.S. Geological Survey said a magnitude 3.8 earthquake struck near Fincastle, Tennessee in Campbell County. A USGS map showed it was felt around East...
Feds Charge 2 Florida Women with Hurricane Irma Disaster Assistance Fraud
Jan 21 2020 // Two Florida women have been accused of lying about damage caused by Hurricane Irma in separate cases, federal prosecutors announced last week. Indictments were returned charging Bernita Willette Carswell, 36, of...
Sonoma County Looking to Sue PG&E for Damages From Wildfire
Jan 21 2020 // A county in Northern California wine country is exploring plans to sue a utility over a massive wildfire last fall that combined with rolling power shutoffs caused losses of $725 million. The Sonoma County Board of...
Hurricane Dorian’s Bahamas Storm Toll: $3.4 Billion in Damages, 3 Years of Rebuilding
Jan 17 2020 // The Bahamas may need to tap international debt markets as it confronts the steep cost of recovering from the most destructive hurricane ever to hit the islands. The government will probably borrow about $500 million in...
Judge Presses PG&E on How It Will Protect Wildfire Victims’ Funds Given FEMA Demand
Jan 17 2020 // PG&E Corp. needs to explain how it will keep a promise to pay fire victims $13.5 billion in the face of a demand from the Federal Emergency Management Agency for a cut of that money, a bankruptcy judge said...
Japan Firms Have Done Little to Build Resilience Against Increasing Floods: Reuters Poll
Jan 17 2020 // Japanese companies have contingency plans for the floods that increasingly drench this island nation, but most have done little to fortify facilities, relying instead on insurance and securing alternative supply sources, a...
Alabama School District Closes School Damaged by EF-2 Tornado
Jan 16 2020 // A north Alabama school district is closing some of its schools this week after a tornado caused heavy damage at an elementary school, the superintendent said. A twister that forecasters determined was an EF-2 with winds up...
Alaska School District Weighing Cost of Earthquake Relief
Jan 16 2020 // Negotiations between the Anchorage School District in Alaska and the federal government over earthquake damage relief could result in the district turning down millions in funds, an official said. The negotiations over...
Florida Legislative Session 2020: Insurance Bills to Watch
Jan 16 2020 // The Florida insurance industry will be focused on several key issues this session, including reform for auto glass (windshield) assignment of benefits (AOB) abuse, reforms to the state’s legal system, as well as...
Critics Say Puerto Rico Needs a Proactive Emergency Plan
Jan 15 2020 // More than two years ago, Hurricane Maria revealed that Puerto Rico was utterly unprepared for a powerful hurricane despite its location in one of the world’s most storm-vulnerable regions. Now, a flurry of...
Philippine Volcano Erupts, Forcing Evacuation of Thousands of Residents
Jan 14 2020 // A lock-down is being implemented by police in three towns in the Philippines near an erupting volcano, 40 miles (65 kilometers) south of capital Manila, to prevent residents from returning home as heavy ash fall and...
FEMA Administrator: We Want California Wildfire Costs From PG&E, Not Victims
Jan 13 2020 // A regional director for the Federal Emergency Management Agency on Monday said FEMA is going after California utility giant Pacific Gas & Electric for $3.9 billion owed the government due to wildfires that PG&E was...
7 Confirmed Tornadoes in Phoenix Metro Area Last Year
Jan 13 2020 // The National Weather Service reports there were seven confirmed tornadoes in Arizona’s Maricopa and Pinal counties last year, the most in nearly five decades. Meteorologists say last year’s total is second only...
Judge: Survivors of Tennessee Wildfire Can Sue National Park Service
Jan 13 2020 // Survivors of a historically deadly Tennessee wildfire that killed 14 people can sue the National Park Service for failing to warn them of the danger, a federal judge has ruled. The fire began in the Great Smoky Mountains...
