Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Florida’s Citizens Reopens More Than 25K Hurricane Irma Claims
May 7 2018 // Citizens Property Insurance Corp. says it has reopened about 37 percent of its Hurricane Irma claims, according to a statement from the Florida insurer of last resort. The insurer says the reopening of claims is part of...
Small Businesses Hampered by Uninsured Losses After 2017 Hurricanes: Fed Reserve
May 7 2018 // Small businesses in the United States struggled with uninsured damages and lost revenue following a record-breaking year of hurricanes and wildfires in 2017, according to a Federal Reserve survey published in April. The...
ICT’s Documentary Shows Hurricane Harvey’s Catastrophic Damage
May 4 2018 // The Insurance Council of Texas (ICT) announced it premiered a new documentary on Hurricane Harvey this week before 1,000 first responders at this year’s Coastal Bend Hurricane Conference in Robstown. The video...
Hawaii Volcano Eruption Prompts Evacuations
May 4 2018 // Nearly 1,500 residents were ordered to evacuate from their volcano-side homes after Hawaii’s Kilauea Volcano erupted, sending molten lava to chew its way through forest land and bubble up on paved streets. Volcano...
Insurers Offering Discounts on Tornado-Resilient Homes in Oklahoma
May 2 2018 // Dozens of insurance companies are now offering discounts to Oklahomans who have built or retrofitted their homes to certain tornado-resilient standards, the Oklahoma Insurance Department announced. A new law went into...
3 Small Earthquakes Occurred off Southern California Ocean
May 2 2018 // Several minor earthquakes well offshore have lightly shaken some Southern California coastal communities, according to the U.S. Geological Survey. The quakes occurred before dawn Tuesday near the southern end of San...
Global Catastrophe Bonds Set Q1 Record: Aon
May 2 2018 // Global catastrophe bond issuance broke a first-quarter record, come in at nearly $3.6 billion for Q1 2018 as the market expanded into new areas, Aon Securities said in its latest report. The $3.58 billion in insurance...
No Tornadoes in Oklahoma in 2018 – Yet
May 1 2018 // This year’s weather on the Southern Plains has an odd twist: Oklahoma has yet to record its first tornado, the deepest into the year it’s gone without one since 1962. Although a drought has dried up moisture...
How Parametric Products Work to Supplement Indemnity Policies: RIMS
Apr 30 2018 // Corporate risk managers are buying parametric insurance policies to supplement, not replace, their indemnity-based policies. The parametric products worked well with customers hit by the 2017 hurricanes, according to...
Recovery Efforts Underway in North Carolina After Tornado Damages 1K Structures
Apr 27 2018 // An aerial view of significant damage to W.M. Hampton Elementary School in Greensboro, N.C., Monday, April 16, 2018. Two storms, reported as tornadoes, toppled trees and ripped apart homes in Greensboro and Reidsville...
Bills Addressing Last Year’s California Wildfires Have Insurers Concerned
Apr 26 2018 // Insurance industry representatives said on Thursday they are working with the authors of pair of controversial bills approved by a committee in the California state Senate that are designed to give relief to victims of the...
California Bill Would Shield PG&E, Edison from Some Wildfire Liability
Apr 26 2018 // Utility giants PG&E Corp. and Edison International could gain at least some protection against future wildfire damages under a bill that’s advancing in California’s legislature. An amended bill being...
GuideWell Insurance Agency in Florida to Offer StormPeace Hurricane Coverage
Apr 26 2018 // GuideWell Insurance Agency, an exclusive property and casualty agency for Florida Blue health plan members, will offer StormPeace, a supplemental hurricane policy from Assured Risk Cover that provides coverage of losses...
California Commissioner Doing Battle with Insurers over Wildfire Bills
Apr 25 2018 // California Insurance Commissioner Dave Jones appears to be poised for a fight with the insurance industry over a legislative package supports say will protect survivors of last year’s wildfires that struck in the...
‘Best Pricing in Quite Some Time’ Helped Chubb Weather Catastrophes for Solid Q1
Apr 25 2018 // Despite higher catastrophe losses, Chubb Limited reported a solid first quarter with net income of $1,082 million, about the same as the $1,093 million it achieved for the same quarter last year. Core operating income was...
NWS: Alabama, Florida Storms Spawned At Least 3 Tornadoes
Apr 25 2018 // The National Weather Service confirms at least three tornadoes in Alabama from Sunday storms, and is surveying other parts of southern Alabama and the Florida Panhandle. A storm with estimated winds of 80 mph (130 kph)...
Texas Windstorm Policy Assumption Program to Begin Soon
Apr 24 2018 // The Texas Windstorm Insurance Association will soon begin its annual program designed to move policies out of the residual market for wind and hail along the Texas coast. This will be the third round for the Assumption...
Why Coastal Living Is Becoming Affordable for Only the Rich
Apr 24 2018 // When Hurricane Irma reached Florida’s Big Pine Key in September, it caused the floor of Terry and Sharon Baron’s cream-colored mobile home to collapse. On Marathon Key, twenty miles north, the winds lifted...
Markets Not Getting Better at Insuring Disasters: Viewpoint
Apr 24 2018 // Last year was the second-costliest year for disasters since 1970, according to a new analysis from reinsurance firm Swiss Re AG. Global economic losses from these events reached $337 billion in 2017, behind only...
State of Emergency Declared for 2 North Carolina Counties Hit by Tornado
Apr 23 2018 // Gov. Roy Cooper has declared a state of emergency in two North Carolina counties which suffered major damage from a tornado. Cooper’s declaration Friday for Guilford and Rockingham counties means state government...
