Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Cincinnati Financial Corp. Says Q3 Cat Losses Could Rise to $114M
Oct 13 2017 // Cincinnati Financial Corp. has announced that the Cincinnati Insurance Companies’ property/casualty group expects its third-quarter results to include pretax catastrophe losses of approximately $102 million to $114...
More Re/Insurers Issue Their Q3 Natural Catastrophe Loss Estimates
Oct 13 2017 // The third quarter natural catastrophe loss estimates continue to rise, as more insurers and reinsurers weigh in with their loss totals from Hurricanes Harvey, Irma and Maria, and the Mexico earthquakes. The latest...
Ireland Readies for Hurricane Ophelia, One of Its Strongest Storms in 50-Plus Years
Oct 13 2017 // Ophelia strengthened into a Category 2 hurricane forecast to strike Ireland, where one of the nation’s strongest storms in half a century threatens everything from farms to a golf course owned by the family of U.S....
Lloyd’s Outlook Is Negative on Hurricane Losses; Ratings Affirmed: S&P
Oct 13 2017 // S&P Global Ratings has revised its outlook on the Society of Lloyd’s to negative from stable, while reaffirming the market’s ‘A+’ insurer financial strength and long-term counterparty credit...
Hurricane-Battered Flood Insurance Program In Need of Funding
Oct 13 2017 // The U.S. National Flood Insurance Program, struggling with the costs of this year’s record hurricane season, will run out of money as early as Oct. 23 unless Congress takes action. The Federal Emergency Management...
House Approves $36.5B Disaster Aid with Puerto Rico, Wildfires, Flood Insurance Funds
Oct 12 2017 // The U.S. House of Representatives on Thursday approved $36.5 billion in emergency relief for hurricane-hit Puerto Rico and other areas that have suffered recent disasters. In addition to the U.S. territory of Puerto Rico,...
Losses from California Wildfires Could Reach up to $6 Billion, Experts Say
Oct 12 2017 // This story has been updated with the latest estimates on fire losses. The wildfires raging in California are shaping up to become an infamous if not historic event. The fires have destroyed 3,500 structures and counting,...
California Fires Pose Grave Risk to Marijuana Growers
Oct 12 2017 // For many businesses in northern California, it will take years to rebuild from the wildfires that have decimated the region. For many legal cannabis growers, the destruction could be insurmountable. At least six marijuana...
$36.5 Billion House Disaster Aid Bill Includes Funds for Puerto Rico, Wildfires, Flood Insurance
Oct 12 2017 // House lawmakers unveiled a bill Tuesday night that would provide $36.5 billion in emergency funding for hurricane and wildfire relief requested by the Trump administration. With Congress under pressure to provide urgent...
Prevalent, Discredited Building Technique Raised Mexico’s Quake Deaths: Engineers
Oct 12 2017 // Warm lighting would enhance the wood floors’ natural glow, the developer promised, so when all the custom lightbulbs burnt out, Anahi Abadia and her husband grudgingly drove to Home Depot to replenish supplies for...
XL Group Estimates $1.48B in Q3 Natural Catastrophe Losses
Oct 12 2017 // XL Group Ltd. announced its preliminary estimate of net losses of approximately $1.48 billion from third quarter natural catastrophes. Included within that figure is $1.33 billion in losses relating to Hurricanes Harvey,...
How Aerial Imaging Is Speeding Hurricane Claims Settlements
Oct 12 2017 // In the wake of three devastating hurricanes this season, many carriers and vendors used drones and airplanes to assess structural storm damage. This use of aerial imaging combined with machine learning has fostered...
Cal Fire: California Wildfires Have Destroyed 3,500 Structures, Killed 17
Oct 11 2017 // Cal Fire is reporting that 17 people are confirmed to have died in the wildfires throughout the state this week and that at least 3,500 homes and commercial structures have been destroyed by the fast-moving...
California’s $58B Wine Industry Hit by Wildfires
Oct 11 2017 // The fires ravaging Northern California stand to leave the area’s renowned wine industry with damage that will be felt long after the final flames burn out. At least four Napa Valley vineyards have been destroyed or...
California Wildfires Are a ‘Larger Scale Disaster’
Oct 10 2017 // Active wildfires in California have burned an estimated 1,500 homes and commercial structures, scorched more than 115,000 acres and reportedly killed 15 people. Insurers and others who access damage are only beginning to...
Deadline Extended for Texas Windstorm Insurance Association Post-Harvey Claim Disputes
Oct 10 2017 // As of Oct. 4, the Texas Windstorm Insurance Association (TWIA) had received 68,861 claims related to Hurricane Harvey. TWIA is the insurer of last resort for wind and hail along the Texas coast. Affected policyholders,...
Rare October Tornado Destroys Structures on East Side of Madison, Wisconsin
Oct 10 2017 // An unusual October tornado has downed power lines and destroyed garages on the east side of Madison, Wisconsin, but no injuries were reported. The National Weather Service confirmed a weak tornado swept northeast along...
KCC Estimates U.S. Insured Losses from Hurricane Nate Could Reach $500M
Oct 10 2017 // Based on high resolution wind and storm surge models, Karen Clark & Company (KCC) has estimated that the insured loss in the U.S. from Hurricane Nate will be close to $500 million. KCC’s modeled loss estimates...
Wildfires Ravage California’s Iconic Wine Country Region
Oct 10 2017 // Wildfires that tore through northern California’s iconic wine-growing regions have prompted evacuations of more than 20,000 people, killed 11 and damaged some of the most valuable vineyards and wineries in the...
Insurers, Reinsurers Tally Maria, Irma, Harvey and Other Disaster Losses
Oct 10 2017 // Losses from Hurricane Maria and other recent natural disasters, including hurricanes Irma and Harvey, the Mexico City earthquake and other events, have led global insurers and reinsurers to issue profi warnings.t Below are...
