Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Wildfire Risk High Remains in Arkansas
Nov 29 2017 // State forestry officials say the risk for wildfires remains high throughout Arkansas as dry conditions persist. The Arkansas Forestry Commission says firefighters have suppressed more than 100 wildfires since Thanksgiving....
Lloyd’s Pays Claims of $1.7B for Hurricanes Harvey, Irma & Maria – So Far
Nov 29 2017 // The Lloyd’s market has paid claims worth US$1.7 billion, to date, in response to Hurricanes Harvey, Irma and Maria. Earlier this year Lloyd’s estimated a total commitment of US$4.8 billion for the three...
Earthquake Center Confirms Moderate Temblor Felt in Alaska Towns
Nov 29 2017 // The Alaska Earthquake Information Center confirmed that a moderate earthquake jostled Alaska’s largest city, but there were no immediate reports of damage. The magnitude 5.3 earthquake hit Monday and was located at a...
Hurricane Season Is Coming to a Close… Maybe
Nov 29 2017 // In 166 years, only 17 tropical storms and six hurricanes have formed in the Atlantic after the official Nov. 30 close of the season, according to the U.S. Hurricane Research Division in Miami. Could it happen...
Hurricane Matthew Victims in 2 North Carolina Counties Now Eligible for Grants
Nov 29 2017 // Residents of two of the North Carolina counties hardest hit by Hurricane Matthew can now schedule an appointment to apply for reimbursement of their losses. The Fayetteville Observer reports state Department of Emergency...
State Auto’s Extension of CEO LaRocco’s Contract a Vote of Confidence in Turnaround Strategy
Nov 28 2017 // Mike LaRocco, who took over president and CEO of State Automobile Mutual Insurance Co. in May 2015, has won the support of the company’s board of directors for an extension of his contract until Dec. 31,...
2017 Hurricane Season Ranks as Costliest Ever for U.S.
Nov 28 2017 // This year’s U.S. Atlantic hurricane season is officially the most expensive ever, racking up $202.6 billion in damages since the formal start on June 1. The costs tallied by disaster modelers Chuck Watson and Mark...
Pool Re to Include Physical Damage from Cyber Terrorism, Effective April 2018
Nov 28 2017 // Pool Re, the UK’s terrorism reinsurance pool, announced it will extend its cover to include material damage and direct business interruption caused by acts of terrorism using a cyber trigger. The new cover will be...
Tourists Stranded, Evacuations Ordered as Bali Volcano’s Eruption ‘Imminent’
Nov 27 2017 // Indonesia closed the airport on the tourist island of Bali on Monday and ordered 100,000 residents living near a grumbling volcano spewing columns of ash to evacuate immediately, warning that the first major eruption in 54...
Houston Arts Groups Working to Recover from Hurricane Harvey
Nov 27 2017 // Houston Ballet artistic director Stanton Welch looked flushed as he stood at the edge of the Hobby Center’s Sarofim Hall stage during a break in the company’s annual Jubilee of Dance performance. The Houston...
California Policyholders Have 24 Months to Collect Wildfire Insurance Money
Nov 22 2017 // California’s insurance commissioner says homeowners who lost their homes in last month’s wildfires in Northern California have up to 24 months to collect insurance payments. Dave Jones said this week some...
Experts See Expanding Role for Parametric Insurance, Including for U.S. Disasters
Nov 22 2017 // Catastrophic losses this year due to extreme weather events have led to a growing interest in parametric insurance in the U.S., according to industry experts. Parametric coverage is also gaining traction as hazard modeling...
Florida Nursing Home to Congress: Patient Deaths After Hurricane Irma Not Staff’s Fault
Nov 22 2017 // A Florida nursing home under investigation for the deaths of 13 patients after Hurricane Irma says in a letter to Congress that staff members did everything possible but couldn’t overcome a lack of power to the...
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...
