Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Expert’s Advice to Florida Agents: Report Claims That Fall Below Hurricane Deductible
Sep 19 2017 // With many agents currently assisting clients in determining if they have claims and the insurance claim filing process in the aftermath of Hurricane Irma, one most common question received by the Florida Association of...
4 Hurricane Irma-Affected U.S. Attorney Offices Form Fraud Task Forces
Sep 19 2017 // The National Center for Disaster Fraud (NCDF) along with U.S. Attorneys’ Offices in the District of Puerto Rico, Southern District of Florida, Middle District of Florida and Northern District of Florida have formed...
Category 5 Hurricane Maria Slams Dominica on Way to Virgin Islands, Puerto Rico
Sep 18 2017 // Hurricane Maria caused “mind boggling damage,” ripping off roofs across the small island of Dominica before pushing on toward the U.S. Virgin Islands and Puerto Rico on Tuesday as the second top-strength storm...
Hurricane Harvey-Caused Oil, Chemical Spills Dwarfed by Katrina’s
Sep 18 2017 // More than 22,000 barrels of oil, refined fuels and chemicals spilled at sites across Texas in the wake of Hurricane Harvey, along with millions of cubic feet of natural gas and hundreds of tons of other toxic substances, a...
Hurricanes to Usher in Short-Term Hard Market for Property Risks: Survey
Sep 18 2017 // Damage left by Hurricanes Irma and Harvey will lead to a hardened property market and pricing correction, at least in the short-term according to a new KPMG survey. In related analysis, a new Morgan Stanley report...
Weakening Hurricane Jose Could Graze Massachusetts Wednesday
Sep 18 2017 // A weakened Hurricane Jose could graze the Northeast as Hurricane Maria tears through the Caribbean, gaining strength and possibly heading toward the U.S. in a week. Jose will probably be downgraded to a tropical storm as...
Some Insurance Adjusters Camping Out in Texas after Harvey
Sep 18 2017 // To process tens of thousands of auto and property claims with losses already well into the billions of dollars, insurance companies have adjusters camping out across Texas. The Houston Chronicle reports in one case, the...
Hey Congress, Hurricanes and Health Care Have a Lot in Common: Bloomberg View
Sep 18 2017 // As Congress continues to struggle with health insurance reform, members should be ruminating on the scenes of “recovery” beaming in from East Texas and Florida, where the majority of households — many now...
Firms Hit by Harvey, Irma Hope Business Interruption Coverage Pays Off
Sep 18 2017 // Business owners who are trying to get back on track after hurricanes Harvey and Irma now face a different sort of challenge: trying to recoup lost income from their insurers. Exclusions in the fine print of policies, along...
A.M. Best: Hurricane Irma to Test Florida Market Newbies
Sep 18 2017 // Although insured losses as a result of Hurricane Irma will not be as severe as originally forecast, the storm still represents a sizeable catastrophe event that will test the infrastructure and potentially strain the...
Mixed Messages Sent Over Texas’s New Cat Claims Statute
Sep 18 2017 // Ambiguity surrounding a Texas law that went into effect on Sept. 1 had insurance industry representatives and attorneys who represent insurance policyholders issuing conflicting messages to insureds who may have suffered...
Why the Federal Flood Program Is Sinking Deeper into Debt: CBO Report
Sep 18 2017 // The federal flood insurance program is on a course to continue falling deeper in debt, even when there is no catastrophic storm like Katrina or Harvey. The National Flood Insurance Program (NFIP) is currently on a path...
Hurricane Costs Become Talk of Monte Carlo’s Reinsurance Rendezvous
Sep 18 2017 // As Hurricane Irma battered Florida, the cream of the insurance world — gathered in Monte Carlo — was assessing the costs of the storm for the global industry. The takeaway so far: Irma and its predecessor,...
Hurricane Maria Speeds Up, Threatening Already-Battered Caribbean Islands
Sep 17 2017 // For the third time this month, a hurricane is spinning toward the already battered Caribbean and gathering strength along the way. The National Hurricane Center upgraded tropical storm Maria to a hurricane Sunday as winds...
ICT Pegs Hurricane Harvey Insured Losses at $19B
Sep 15 2017 // The Insurance Council of Texas (ICT) has placed the insured losses from Hurricane Harvey at $19 billion. That number includes an estimated $11 billion in flood losses insured by the National Flood Insurance...
Green Cat Bonds Aren’t a Thing – Yet
Sep 14 2017 // Green cat bonds. That slinky phrase is one that Greg Lowe, global head of resilience and sustainability for Aon, would enjoy hearing uttered frequently in the near future. Lowe has been talking with an increasing number of...
M4.2 Earthquake Shakes Central Alaska
Sep 14 2017 // A magnitude 4.2 earthquake has hit central Alaska, the Alaska Earthquake Center has confirmed. According to the center, the earthquake struck at 11:32 p.m. on Tuesday and its epicenter was 39 miles north of the town of...
Fitch Expects Most Insurers, Reinsurers to Handle Losses from Both Harvey, Irma
Sep 14 2017 // Fitch Ratings reported that based on its initial assessments, most U.S. insurance companies and global reinsurers that it rates are not expected to be downgraded as a result of the combined effects of Hurricanes Irma and...
Texas AG Sues 3 Businesses for Price Gouging During Hurricane Harvey
Sep 13 2017 // Attorney General Ken Paxton has filed lawsuits against three Texas businesses, accusing them of unlawful price gouging while consumers were in need of fuel, shelter and other essentials as a result of Hurricane...
Texas Mutual Creates $10M Fund for Policyholders Affected by Hurricane Harvey
Sep 13 2017 // Workers’ compensation insurance provider Texas Mutual Insurance Co. has established a grant of $10 million to policyholders affected by Hurricane Harvey. The grant program is intended to support the recovery of...
