Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Tsunami Threat to Miami Passes After Major Earthquake in Caribbean Shakes City
Jan 28 2020 // A powerful magnitude 7.7 earthquake struck in the sea in the western Caribbean on Tuesday, sending workers into the streets and triggering evacuations as buildings shook across the Cayman Islands, in Jamaica, and in...
Oregon Coast Tornado Confirmed, Caused Minor Damage
Jan 28 2020 // A tornado caused some minor damage to homes in Manzanita, Ore., on Tuesday morning, the National Weather Service confirmed. The Oregonian/OregonLive reported that Tillamook County Emergency Manager Gordon McCraw said the...
Florida Man Accused of Making Fraudulent Hurricane Irma Claims
Jan 27 2020 // A Florida man has been accused of lying about damage caused by Hurricane Irma, federal prosecutors announced this week. An indictment was returned charging Deontre Javan Taylor, 26, of Jacksonville, with disaster...
4.6M Earthquake Confirmed in Southern California Desert
Jan 27 2020 // A small earthquake rattled the Southern California desert on Friday, but there were no immediate reports of damage or injuries, the U.S. Geological Survey has confirmed. A temblor with a preliminary magnitude of 4.6 struck...
South Texas Lawmaker Appointed to Windstorm Insurance Oversight Board
Jan 27 2020 // Texas state Rep. J.M. Lozano has been appointed to the Texas Windstorm Insurance Association (TWIA) Legislative Oversight Board, a group of four State Representatives and four State Senators that will closely monitor TWIA...
How Parametric Insurance Can Help Fill the Gap Where Traditional Insurance Falls Short
Jan 27 2020 // Although parametric solutions have been generally available since the late 1990s, they have more recently found their way into corporate insurance. Parametric insurance solutions offer a means to guarantee direct payout...
Policy Changes Now in Effect at Texas Windstorm Insurer
Jan 27 2020 // The new year brought some changes to residential and commercial policies provided by Texas’ insurer of last resort for wind and hail along the coast. New coverages, terms and conditions now apply to Texas Windstorm...
7 Confirmed Tornadoes in Phoenix Metro Area Last Year
Jan 27 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...
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...
