Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Aon Securities Structures Largest-Ever Earthquake Catastrophe Bond for World Bank
Feb 7 2018 // Aon Securities, the investment banking division of reinsurance intermediary and capital adviser Aon Benfield, has assisted the World Bank in structuring the largest-ever catastrophe bond covering earthquake, which provides...
Thousands of Acres Scorched by Northeastern Oklahoma Wildfires
Feb 5 2018 // Firefighters say wildfires have scorched thousands of acres of dry grasslands in northeastern Oklahoma. Dozens of firefighters fought a grassfire along Oklahoma Highway 20 in Osage County Saturday evening that officials...
American Families Sue Chiquita Over Terrorist Group Killings in Colombia
Feb 5 2018 // The families of six Americans kidnapped and killed in Colombia during the 1990s by the terrorist organization known as FARC are seeking potentially tens of millions of dollars in damages from banana giant Chiquita Brands...
Mississippi to Offer Free Vehicle Inspections of Hurricane-Damaged Vehicles
Feb 5 2018 // The Mississippi Insurance Department (MID) and the Mississippi Collision Repair Association have partnered to protect residents from buying cars damaged by Hurricanes Harvey and Irma. Officials say thousands of...
CoreLogic: Harvey an Exception to a Relatively ‘Normal’ Hazard Activity Year
Feb 5 2018 // While natural weather hazard activity could be largely categorized as “normal” last year, regional exceptions occurred, notably: wildfires in California and hurricane activity in Texas and the...
Winter Wildfires Scorch Oklahoma
Feb 5 2018 // Firefighters say wildfires have scorched hundreds of acres in western Oklahoma, damaging fences and equipment but causing no injuries. Capt. Forrest Valentine of the Clinton Fire Department said firefighters battled two...
Texas AG Sues Tree Company Over Deadly, Damaging 2011 Wildfire
Feb 5 2018 // Texas is suing a vegetation management company that it alleges caused the 2011 Bastrop County Complex Fire, the most destructive wildfire in Texas history. The lawsuit filed on Jan. 19 by Texas Attorney General Ken Paxton...
Report Calls out California Wildfires Among 2017 U.S. Hazards
Feb 5 2018 // CoreLogic’s annual Natural Hazard Risk Summary and Analysis released in late January shows that 2017 was a year of relatively average activity for most U.S. natural hazards with the exception of wildfires in...
Study Finds Oklahoma’s Earthquakes Strongly Linked to Wastewater Injection Depth
Feb 2 2018 // A huge increase in the number of man-made earthquakes in Oklahoma, is strongly linked to the depth at which wastewater from the oil and gas industry is injected into the ground, according to a new study involving the...
Risk Management for Super Bowl Requires Team Effort
Feb 2 2018 // Assessing and managing risk for an event like the Super Bowl is more than a matter of just looking around the venue for possible slip and fall hazards and hiring a few security guards to ensure no one enters the stadium...
Statewide Claims for California Wildfires Reach Nearly $12B
Jan 31 2018 // Insurers have received nearly 45,000 insurance claims totaling more than $11.79 billion in losses from the wildfires that burned across the state in October and December 2017, California Insurance Commissioner Dave Jones...
Insurance Council of Texas: Justified Consumer Complaints Minimal in 2017
Jan 31 2018 // Despite another year of bad weather, data from the Texas Department of Insurance (TDI) shows that justified consumer complaints continued to be low, the Insurance Council of Texas (ICT) reports. Out of 6.7 million...
Chubb Records Solid Q4 and Year Despite Catastrophe Losses
Jan 31 2018 // Chubb had a solid last quarter of 2017 and year even though challenged by wildfire and other catastrophe costs. Fourth quarter results were enhanced by a one-time gain from the Trump tax cuts. The insurer booked $1.5...
Casualty Catastrophe Modeler Praedicat Raises $6 Million
Jan 31 2018 // Praedicat said it has completed a $6 million, early-stage financing. The Los Angeles-based casualty catastrophe modeling company plans to use the money to accelerate development of products that prepare insurers and other...
Winter Wildfires Scorch Western Oklahoma
Jan 30 2018 // Firefighters say wildfires have scorched hundreds of acres in western Oklahoma, damaging fences and equipment but causing no injuries. Capt. Forrest Valentine of the Clinton Fire Department said Sunday firefighters battled...
Mississippi to Offer Free Vehicle Inspections of Hurricane-Damaged Vehicles
Jan 30 2018 // The Mississippi Insurance Department (MID) and the Mississippi Collision Repair Association are partnering on an initiative designed to protect residents from buying cars damaged by Hurricanes Harvey and Irma. Following...
National Hurricane Center: Harvey’s Rains Make It Second-Costliest U.S. Hurricane
Jan 29 2018 // Record-breaking Hurricane Harvey became the second-costliest storm to hit the U.S. and dropped more rain than any other system ever. Harvey, the strongest hurricane to hit the U.S. since 2005, killed at least 103 people...
Capital Markets Still Keen on ILS Investments Despite 2017 Disaster Claims: WTW
Jan 29 2018 // The insurance linked securities (ILS) sector is set for another year of growth as the market recovers from 2017’s natural disasters, replaces lost capital and investors show mounting interest in ILS products. These...
After Catastrophes, ‘Pricing Complacency,’ P/C Insurers Face Real Test in 2018: S&P
Jan 29 2018 // While the U.S. property/casualty insurance sector passed the capital test in 2017, a year with record catastrophe losses, insurers will face the real test in 2018 if catastrophe losses come close to last year’s...
IBHS in Florida Announces Leadership Changes, Focus for 2018
Jan 26 2018 // The Insurance Institute for Business & Home Safety (IBHS), headquartered in Tampa, Fla., has promoted Anne D. Cope, Ph.D., P.E., to senior vice president of Research and chief engineer. Cope has assumed leadership of...
