Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Lloyd’s Index Shows $92B at Risk in North American Cities Each Year
Jul 2 2018 // Cities in the U.S. and Canada stand to lose $92.96 billion per year to risks like market crash, cyber attack and flood, an index from Lloyd’s shows. Lloyd’s newly issued City Risk Index, which produces...
Catastrophes Hit Homeowner Insurers; Combined Ratio Moves Above 107: A.M. Best
Jul 2 2018 // After four years of sub-100 combined ratios for the U.S. homeowners insurers, the segment saw its combined ratio deteriorate to 107.1 in 2017 as a result of numerous catastrophes, according to an A.M. Best report. The new...
The Perfect Storm: As CAT Season Heats Up, Are You Prepared?
Jul 2 2018 // Anyone involved with disaster response knows to expect the unexpected, and that mantra has only intensified as 2018’s catastrophe (CAT) season heats up. Unexpected seems to be the theme. Oklahoma — which...
Colorado Hailstorm Carries $169M Insurance Price Tag
Jul 2 2018 // Thousands of Fountain and Colorado Springs, Colo., area residents were busy cleaning up and meeting with insurance adjusters after an unusual early morning June 13 storm pounded vehicles and roofs golf and baseball-sized...
Kansas Wildfire Efforts Inadequate, Audit Finds
Jul 2 2018 // An audit has found that Kansas doesn’t have money to devote to wildfires and its fire-fighting efforts are inadequate. In Kansas, local government has first responsibility for fighting fires and often have to cover...
Beware ‘Tsunami’ Effect of Artificial Intelligence, Warns Allstate CEO Wilson
Jun 29 2018 // Artificial intelligence is coming for the service economy, according to Allstate Corp. Chief Executive Officer Tom Wilson. “It’s going to rip through this economy like a tsunami,” Wilson said Thursday in...
Fury of Hailstorms Battered Colorado, Insured Losses ‘Skyrocketing’
Jun 28 2018 // The hailstorms that hit Northern Colorado and the Denver-metro just over a week ago carried a $276.4 million insurance price tag. The storms followed a Southern Colorado hailstorm a week earlier that caused an estimated...
8 Injured When Tornado Hits Eastern Kansas Town
Jun 28 2018 // Residents in a small Kansas town were surveying damage Wednesday after the community took a “direct hit” from a tornado for the second time in two years. Eight people were hurt, two critically, when the latest...
California Commissioner Angry at Insurers for Altering Wildfire Bills
Jun 28 2018 // California Insurance Commissioner Dave Jones is irked that the insurance industry has worked to alter legislation he supports that he says is aimed at strengthening consumer protections for wildfire survivors. Senate Bill...
Every $1 Spent in Hurricane Protection Lowers Property Loss Exposure by $105
Jun 28 2018 // Every $1 a business spends on hurricane protection reduces loss exposure by an average of $105. That’s based on an analysis by global commercial and industrial property insurer firm FM Global, which reviewed loss and...
Dozens of Homes in North Florida Damaged by Wildfire
Jun 27 2018 // A fast-moving wildfire damaged or destroyed dozens of homes in a Florida county. Gov. Rick Scott visited the small coastal community of Eastpoint on Monday to get an update on the damage. Eastpoint is in Franklin County...
What’s Ahead for Reinsurance Industry in 2018: Fitch
Jun 27 2018 // The global reinsurance industry demonstrated resiliency following the record level of catastrophe losses in 2017, as very strong capitalization and effective risk management enabled the sector to absorb the multiple hits...
Northern California Wildfires Flare up in Heat, High Winds
Jun 26 2018 // Thousands fled their homes as major wildfires encroached on a charred area of Northern California still recovering from severe blazes in recent years, sparking concern the state may be in for another destructive series of...
Alabama Mobile Home Uprooted by Possible Tornado
Jun 26 2018 // A possible tornado tore through a northern Alabama county, uprooting and destroying a mobile home and leaving two adults and two children with minor injuries. Cullman County Assistant Emergency Management Director Scott...
Lessons Learned From Hurricane Harvey Highlighted in Zurich Report
Jun 25 2018 // An inconsistent regulatory environment and a lack of awareness by residents of the potential flooding dangers in and around Houston were among the factors that contributed to the heavy damage inflicted by Hurricane Harvey,...
Colorado Hailstorm Carries $169M Insurance Price Tag
Jun 22 2018 // Thousands of Fountain and Colorado Springs, Colo. area residents have spent the past week cleaning up and meeting with insurance adjusters after an unusual early morning June 13 storm pounded vehicles and roofs golf and...
Northern New England Storms Leave Many Without Power, Spark Tornado
Jun 22 2018 // More than 10,000 people were still without power Tuesday, a day after strong winds and rain from storms in northern New England sparked a tornado in New Hampshire and razed a historic barn in Vermont. Monday...
Hurricane Irma Blamed for Worst Florida Citrus Crop Since 1940s
Jun 22 2018 // Florida’s citrus growers are blaming Hurricane Irma for one of their worst seasons in decades. In a Naples Daily News report, U.S. agriculture officials said Florida’s orange production dropped nearly 35...
Louisiana Seeks to Clarify Named Storm/Hurricane Deductible Law
Jun 21 2018 // The Louisiana Department of Insurance has issued an advisory letter to property/casualty insurers operating in the state that seeks to clarify the interpretation and application of state law regarding policy deductibles in...
Legislative Audit: Kansas Wildfire Response Underfunded, Understaffed
Jun 21 2018 // A legislative audit says Kansas’ wildfire suppression system is underfunded and understaffed and operates with a fragmented leadership. The Topeka Capital-Journal reports the audit was ordered after wildfires in 2016...
