Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Two Injured, Buildings Damaged by Tornadoes in Kentucky
Nov 22 2017 // The National Weather Service says two people were hurt in two moderate tornados in Kentucky. The weather service says both tornados touched down Saturday and were rated EF-1. The first happened shortly before 3:30 p.m. CST...
California Fires Will Add to 2017 Insurer Catastrophe Losses, Fitch Says
Nov 20 2017 // No U.S. reinsurance companies in Fitch Rating’s rated universe are expected to be downgraded as a result of losses from the California wildfires alone, but for a number of companies the impact of wildfire losses adds...
Reinsurance Sector’s Share of Hurricane, Quake Losses Is $20B-$25B: A.M. Best
Nov 20 2017 // Cumulative net catastrophe losses for reinsurance companies from Hurricanes Harvey, Irma and Maria, along with the Mexico earthquakes, are between $20 billion-$25 billion out of an overall industry loss of $90 billion,...
Palomar Specialty Expands Residential Earthquake Product Into Additional States
Nov 20 2017 // Palomar Specialty Insurance Co. has expanded its Flex Choice residential earthquake insurance product into the following states: Arkansas, Tennessee, Kentucky, Illinois, Indiana and Utah. Flex Choice allows consumers to...
Recent Hurricanes Highlight the Need for Digital Transformation in Insurance
Nov 20 2017 // The claims for Hurricane Irma are starting to pour in and they’ll be big, $25 billion to $35 billion, forecaster AIR Worldwide says. The scenes of flooding, displaced people, wrecked homes and disrupted communities...
The Senior Care Market Still Going Strong
Nov 20 2017 // The aging U.S. population will create unprecedented demand for the senior living industry for decades to come and that opens the door for agents and brokers to grow their business in this sector. But understanding the...
A Storm of Claims Likely Following 2017 Hurricane Season
Nov 20 2017 // The aftermath of this year’s hurricanes includes massive reconstruction across the impacted areas, which in turn creates an increased possibility for construction defect claims that would affect the liability...
Impact of Recent Natural Catastrophes on Insurance Market
Nov 20 2017 // Brokers and insureds are wondering what impact the devastation left by Hurricanes Harvey, Irma, Maria and Nate will have on property insurance rates, capacity and coverage terms. Short term, there will likely be an...
Disaster Planning for Agencies: Minding Your Business
Nov 20 2017 // Northern California and specifically Sonoma and Napa Counties have experienced the worst wildfires in the history of California. Most of these fires began around Oct. 8, 2017, during night with extremely high winds, that...
Hurricane Harvey Caused More than $200M in Crop, Livestock Losses in Texas
Nov 20 2017 // Hurricane Harvey caused more than $200 million in crop and livestock losses, according to Texas A&M AgriLife Extension Service. Hurricane losses by agricultural commodity include: livestock – $93 million; cotton...
More than 63K Recreational Boats Destroyed by Hurricanes Harvey and Irma
Nov 20 2017 // More than 63,000 recreational boats were damaged or destroyed by Hurricanes Harvey and Irma, resulting in a damage estimate of $655 million, according to a national association dedicated to recreational boaters. Boat...
Impact of Natural Catastrophes on Insurance Market
Nov 20 2017 // Brokers and insureds are wondering what impact the devastation left by Hurricanes Harvey, Irma, Maria and Nate will have on property insurance rates, capacity and coverage terms. Short term, there will likely be an...
Grapes of Wrath: Insurance Fallout from the Wine Country Wildfires
Nov 20 2017 // Now that this October’s wine country fires have been contained, the ravaged San Francisco Bay area countryside can begin the rebuilding process. The effects of the wildfires, however, will be further reaching than...
Someone Else’s Wires May Have Started California Wildfires, PG&E Says
Nov 20 2017 // The deadliest of last month’s wildfires in California’s wine country may have been started by electrical equipment not owned or installed by Pacific Gas and Electric Co., the utility said in a court filing...
Impact of Recent Natural Catastrophes on Insurance Market
Nov 20 2017 // Brokers and insureds are wondering what impact the devastation left by Hurricanes Harvey, Irma, Maria and Nate will have on property insurance rates, capacity and coverage terms. Short term, there will likely be an...
Modeler: Insured Losses for California Wildfires Could Reach $10.5B
Nov 16 2017 // Loss estimates for the October California wildfire siege could reach up to $10.5 billion, according to catastrophe modeling firm AIR Worldwide. Boston, Mass.-based AIR on Thursday updated its loss estimates for the recent...
California Utility Blamed in 3 Suits for Deadly Wildfires
Nov 16 2017 // Pacific Gas and Electric Co. was blamed in three lawsuits filed this week for negligence in the wildfires that killed more than 40 people and destroyed over 8,000 homes in Northern California last month. The lawsuits...
Hedge Funds Invest in Reinsurance Stocks on Expected Rate Hikes in 2018
Nov 16 2017 // Hedge funds bought reinsurance stocks in the third quarter after prices tumbled on widespread losses after multiple hurricanes in North America, filings showed on Wednesday. Hurricanes in the United States and the...
Insurers Had Crews Working in Heart of California Wildfires to Prevent Loss
Nov 15 2017 // “It was all hands on deck.” That apt description of the reaction to the deadly outbreak of wildfires that ravaged California in October was from Stephen Poux, global head of risk management and loss prevention...
Texas Division of Workers’ Comp: Employees Stepped Up to Help After Hurricane
Nov 15 2017 // When Hurricane Harvey devastated the Houston area two months ago, Texas Department of Insurance, Division of Workers’ Compensation employees around the state responded rapidly. DWC increased staffing on the customer...
