Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
M4.7 Earthquake Shakes Northern California
Nov 15 2017 // A light earthquake has struck in Northern California and been felt by some people in the surrounding area, but there are no immediate reports of damages or injuries, the U.S. Geological Survey confirmed. The quake with a...
Wineries Looking to Make Up Losses Following California Wildfires
Nov 15 2017 // A month after deadly wildfires swept through California’s famed wine country, hot-air balloons are floating again over Napa Valley vineyards splashed with fall colors. On the heels of the disaster, a new winery is...
Austin American-Statesman: Texas Has 100s of Substandard Dams in Populated Areas
Nov 14 2017 // The earthen dam on the outskirts of Georgetown in Texas’ Williamson County certainly does not look flimsy. The Austin American-Statesman reports at 35 feet high and nearly a third of a mile long, it has done a...
California Wildfires May Lead to $8B in Insured Losses: Aon Benfield
Nov 14 2017 // California’s historic wildfires may lead to as much as $8 billion in insured losses. That’s a record for insurers, according to the October 2017 Global Catastrophe Recap from Aon Benfield’s Impact...
Someone Else’s Wires May Have Started California Wildfires, PG&E Says
Nov 13 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...
New Phase in California Wildfire Cleanup: Clearing Ruins
Nov 13 2017 // Rumbling bulldozers and front-loaders have started scraping up the ash, charred wood and crumbled bricks and concrete left from thousands of homes and buildings destroyed by blazes in California wine country, launching a...
Allianz Cuts 2017 Profit Projection After Q3 Natural Catastrophe Claims
Nov 13 2017 // Allianz has slightly downgraded its profit outlook for the full year after increased claims from natural disasters in North America, the German insurance giant’s finance chief said. Hurricanes Harvey, Irma and Maria,...
Growing Climate Risks May Be ‘Impossible to Model’ – and Ultimately Uninsurable
Nov 13 2017 // After one of the worst Atlantic hurricane seasons in history, the world’s biggest insurers say the industry needs to get its act together if it wants to survive climate change. Insuring against weather natural...
Insurers Face Potential $1 Billion in Claims for Las Vegas Mass Shooting
Nov 13 2017 // The deadliest mass shooting in modern U.S. history is adding to soaring costs for insurance companies, which are already taking a beating this year from an onslaught of hurricanes, earthquakes and wildfires. The industry...
Resilience Economics Bringing Climate Products to New Sectors
Nov 9 2017 // Resilience Economics Ltd. seems poised to capitalize on climate change. Cedent Ltd. this month launched the corporate finance advisory firm focused on climate risk with an initial $500 million of capacity from strategic...
Boats Took $655 Million Beating This Hurricane Season: BoatUS
Nov 9 2017 // More than 63,000 recreational boats were damaged or destroyed as a result of Hurricane Harvey and Hurricane Irma, with a combined dollar damage estimate of $655 million, according to the Boat Owners Association of the...
Munich Re Reports Q3 Loss of $1.6B; Tallies Industry Hurricane Losses at $100B
Nov 9 2017 // Insured losses from three big hurricanes in North America this year have cost the industry around $100 billion, German reinsurance giant Munich Re said on Thursday. Damages from storms Harvey, Irma and Maria of that...
Hurricane Harvey Caused More than $200M in Crop, Livestock Losses in Texas
Nov 8 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...
Hannover Re Sells Entire Stock Portfolio to Pay for Catastrophe Claims
Nov 8 2017 // For Hannover Re, the world’s third-biggest reinsurer, it’s time to take profits in the stock market. The German company said on Wednesday that it sold its entire stock portfolio, worth about 953 million euros...
Officials: Small Ohio City Hit by Possible Tornado, 8 Injured
Nov 7 2017 // At least eight people have been injured after a possible tornado hit a small Ohio city. Mercer County officials say six people were hurt when a restaurant in Celina was damaged during Sunday’s storms. One person was...
Typhoon Damrey’s Vietnam Death Roll Rises; AIR Worldwide Comments
Nov 7 2017 // A powerful typhoon that rocked Vietnam has killed at least 44 people, left more than a dozen missing and caused extensive damage to the country’s south-central region ahead of a summit that will draw leaders from...
Puerto Rico Bond Insurers’ Stocks Fall After ’60 Minutes’ Episode on Hurricane Maria
Nov 7 2017 // Shares of three major bond insurance firms with exposure to Puerto Rico fell on Monday after a “60 Minutes” episode aired on Sunday highlighted the extensive damage wreaked on the island by Hurricane...
What to Expect for Commercial Insurance Pricing for 2018: WTW’s Marketplace Realities
Nov 6 2017 // Commercial insurance buyers should brace for rate increases for 2018 insurance as the industry continues to tally losses following one of the most financially disruptive hurricane seasons in history, according to global...
Berkshire Insurance Units Take Q3 Hit from U.S. Hurricanes, Mexico Earthquake
Nov 6 2017 // Bad weather hurt Warren Buffett’s Berkshire Hathaway Inc. in the third quarter, as insurance losses tied to Hurricanes Harvey, Irma and Maria and an earthquake in Mexico contributed to a 43 percent drop in...
Despite Earthquake Risk, UK Ready to Begin Fracking – Again
Nov 6 2017 // Six years after Britain’s first fracking operation was stymied by earth tremors, its shale gas industry is poised to try again with a technology that could transform the UK gas market and drastically reduce its...
