Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Chubb Reports Q3 Loss Due to Catastrophes; CEO Greenberg Sees Prices Firming
Oct 27 2017 // Chubb, like other property/casualty insurers and reinsurers, faced significant catastrophe losses from hurricanes and earthquakes that struck in August and September. The insurer reported a net loss of $70 million for the...
Loss Estimate for October 2016 Italian Quakes Rises to US$244.4M: PERILS
Oct 27 2017 // The property insurance market’s losses from the series of earthquakes to hit Central Italy between Oct. 26 and Oct. 30, 2016 has risen to €208 million (US$244.4 million), according to PERILS, the independent...
Florida’s Hurricane Irma Recovery Tab Tops $650M
Oct 27 2017 // The tab for Hurricane Irma keeps rising, and Florida legislators are warning that it could require some tough budget choices for next year. Gov. Rick Scott’s budget director told a Senate panel on Wednesday that the...
U.S. Cities Ranked Most Vulnerable to Coastal Floods Due to Climate Change
Oct 26 2017 // This week is the anniversary of Superstorm Sandy, which developed in late October and moved over the East Coast starting on Oct. 29, 2012, causing more than $70 billion in damage and killing 280 people. To mark that...
Study Links Colorado, New Mexico Quakes to Oil and Gas Fluid Injections
Oct 26 2017 // A rash of earthquakes in southern Colorado and northern New Mexico between 2008 and 2010 was likely due to fluids pumped deep underground during oil and gas wastewater disposal, according to a study from Colorado...
Munich Re Expects Q3 Loss After Hurricane Claims of $3.2B
Oct 26 2017 // Munich Re expects claims of €2.7 billion ($3.2 billion) from Hurricanes Harvey, Irma and Maria, which will lead to a third quarter loss of €1.4 billion. The group said it expects a small profit for the full year, as...
Best Areas in U.S. to Live to Avoid Natural Disasters
Oct 26 2017 // Tired of living with hurricanes, tornadoes or floods? Head to Portland, Salt Lake City or Providence. Or California. Yes, California. Portland, Oregon is the safest place to live to avoid hazardous weather; three of the...
Severe Weather in Carolinas Brings Tornadoes, Power Outages
Oct 26 2017 // A National Weather Service team confirmed Tuesday that two tornadoes touched down in South Carolina during an outbreak of severe weather that flipped tractor-trailers and small planes, washed out roads and left thousands...
Florida Insurance Agents Recount Hurricane Irma’s Personal Impact
Oct 26 2017 // It’s been just over a month since Hurricane Irma hit Florida, and it won’t be forgotten in Florida by anyone anytime soon, especially not by those in the insurance industry. The powerful storm made landfall...
Officials Confirm Oklahoma Casino Hit with EF1 Tornado
Oct 25 2017 // Emergency managers say an Oklahoma casino had part of its roof torn off by an EF1 tornado during a concert that the state’s governor was attending. The twister touched down in Cleveland County, one of several...
Senate Joins House in Passing $36.5B Disaster Aid with Flood Insurance Funds
Oct 25 2017 // The Senate sent President Donald Trump a $36.5 billion hurricane relief bill Tuesday that gives Puerto Rico access to $4.9 billion in low-interest Treasury loans, amid concerns that recovery efforts from the recent...
XL Group Q3 Reports Losses in Excess of $1B on Hurricanes Harvey, Irma, Maria
Oct 25 2017 // XL Group reported losses exceeding $1 billion for the 2017 third quarter, blaming Hurricanes Harvey, Irma and Maria for the results. The net loss of $1.04 billion for Q3 amounted to negative-$4.06 per fully diluted share,...
Oklahoma’s Tornado King Ordered to Return More than $100K in Embezzlement Scheme
Oct 24 2017 // Oklahoma Attorney General Mike Hunter says William Stephens, the owner of Tornado King, a storm shelter manufacturing and installation company, pleaded no contest to six counts of embezzlement and one count of a pattern of...
Oklahoma Energy Companies Settle Suit over Earthquake Damage
Oct 24 2017 // A settlement has been reached between two Oklahoma oil and natural gas companies and a woman injured in a 2011 earthquake. Prague resident Sandra Ladra filed the lawsuit in 2014 against New Dominion LLC, Spess Oil Co. and...
California’s Wine Industry Taking Stock of Losses After Wildfires
Oct 23 2017 // Although still burning, the largest fires that have devastated California wine country are mostly contained, and winemakers, winery owners, and growers began taking stock this week of what they have—and...
AIR Worldwide Introduces Inland Flood Model for Japan
Oct 23 2017 // Catastrophe modeling firm AIR Worldwide has introduced a new inland flood model for Japan along with enhancements to its Japan typhoon model. These models are part of Version 5.1 of AIR’s catastrophe modeling...
CoreLogic: Hurricane Nate Property Damage Could Top $1B
Oct 23 2017 // Hurricane Nate preliminary loss estimates are estimated to be between $650 million and $1.35 billion, according to CoreLogic. The loss estimates were calculated based on data analysis, total insured and uninsured loss for...
Texas Windstorm Insurance Association Request to Raise Liability Limits Disapproved
Oct 20 2017 // Texas Insurance Commissioner Kent Sullivan has declined to approve a request by the Texas Windstorm Insurance Association to raise the maximum limits of liability on windstorm and hail policies. TWIA in August filed a...
Investors Remain Committed to ILS Market Despite Q3 Catastrophes: WTW
Oct 20 2017 // ILS investors are responding to the recent spate of natural disasters by making their payments to ceding companies, while continuing to raise more money and preparing to make new investments, according to Willis Towers...
Swiss Re Estimates $3.6B in Claims from U.S. Hurricanes & Mexican Quakes
Oct 20 2017 // Swiss Re, the world’s second-largest reinsurer, estimated its claims burden from hurricanes Harvey, Irma and Maria in the United States and from two earthquakes in Mexico at roughly $3.6 billion in the third...
