Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Texas Windstorm Insurer: Finances Sound at Start of Hurricane Season
Jun 19 2017 // The Texas Windstorm Insurance Association (TWIA) says it is financially sound and ready for the 2017 hurricane season after once again securing $4.9 billion in total funding. TWIA is the insurance carrier of last resort...
Insurance Research Finds Many Homeowners Don’t Understand Deductibles
Jun 15 2017 // Almost five years after Superstorm Sandy, one third of homeowners in several coastal states are still unaware of hurricane deductibles and how they work, new insurance research has found. Not only did 33 percent of...
Insurers Adapt Terrorism Policies with Loss of Attraction, Violent Acts, Other Coverages
Jun 15 2017 // The changing nature of attacks in Western cities has led insurers to offer new policies, from straightforward cover for business lost due to police cordons to more risky compensation for declines in tourism. Terrorism...
Families of 7 Children Killed in Oklahoma Tornado Settle with School System
Jun 14 2017 // A suburban Oklahoma City school system and its insurer have agreed to pay about $14,000 to each of the families of seven children who died four years ago when their school was destroyed by a tornado. The deal, announced by...
Suspected Tornado Damages Nebraska Panhandle Town
Jun 14 2017 // Residents in a small western Nebraska town were clearing away tree and building debris Tuesday after a suspected tornado tore through the town but injured no one. The storm struck Bayard around 7:10 p.m. on June 12,...
Rains Nearly Extinguish Vast Georgia Wildfire Burning Since April
Jun 14 2017 // A wildfire that burned vast acreage and at one point threatened hundreds of homes near the Georgia-Florida state line has been nearly extinguished after steady rains soaked the Okefenokee Swamp over the past week. The team...
Hawaii’s Big Island Hit by M5.3 Earthquake
Jun 12 2017 // A magnitude-5.3 earthquake shook Hawaii’s Big Island, the U.S. Geological Survey confirmed. No damage was reported in the quake, which the USGS said was centered about 11 miles (18 kilometers) southeast of Volcano...
Chubb Boosts Capacity for Terrorism, Political Violence, War Insurance
Jun 12 2017 // Chubb said it is now offering increased insurance capacity of up to US$150m/ €150m (previously US$100m/ €100m) for terrorism, political violence and war risks in response to evolving threats and increased demand from...
U.S. Storms in May to Cost Insurers $3B; Economic Costs Total $4B: Aon Report
Jun 9 2017 // Total aggregated economic losses from severe weather in the U.S. during May was set to exceed US$4.0 billion, while public and private insurers face a combined payout approaching an estimated US$3.0 billion, according to...
RMS Releases Updated N. America Earthquake Models for U.S., Canada & Mexico
Jun 9 2017 // RMS, the Newark, Calif.-based risk modeling and analytics firm, announced the release of version 17.0 of its North America Earthquake Models for the United States, Canada and Mexico. The updated model will enable RMS...
Active Atlantic Hurricane Season Looms – as Odds Drop of El Niño Formation
Jun 9 2017 // Forecasters again lowered the odds of El Niño forming by year’s end, a scenario that may mean more Atlantic hurricanes at a time when federal agencies charged with predicting and responding to natural disasters lack...
After 18 Months, Houston Hurricane Vulnerability Documents Arrive from Feds
Jun 8 2017 // Note: This article originally appeared in the Texas Tribune. Eighteen months ago, the Texas Tribune and ProPublica asked the federal government for some documents. At the time, we were investigating what will happen the...
It’s Hurricane Season! Is Your Customer Ready?
Jun 7 2017 // For the first time in several years, I didn’t get tense because June 1 was coming. In fact, I totally missed June 1 until June 2. I totally forgot about June 1. Oh, right. You may not be thinking about June 1, like I...
National Hurricane Center’s New Weather Advisory Tactic: Storm Prep Deadlines
Jun 7 2017 // Some coastal residents always put off emergency preparations until storm clouds loom on the horizon. The National Hurricane Center is going to try giving those people a deadline this year, issuing experimental advisories...
Nearly 6.9 Million US Homes at Risk of Hurricane Storm Surge Damage
Jun 6 2017 // This post is part of a series sponsored by CoreLogic. Total Reconstruction Cost Value is More Than $1.5 Trillion It’s no surprise that residential homes in the U.S. located along the Atlantic and Gulf coasts are...
USGS Reports Small Earthquake Near Alabama-Georgia Line
Jun 6 2017 // A small earthquake has struck northeastern Alabama near the Georgia line. The U.S. Geological Survey reports that a magnitude 2.6 earthquake occurred Friday morning. The quake was centered in a rural area about 7 miles...
Heritage Insurance Secures $1.7B in Florida Reinsurance Cover for 2017-2018
Jun 6 2017 // Heritage Insurance Holdings, Inc., a property and casualty insurance holding company, announced that its insurance subsidiaries, Heritage Property & Casualty Insurance Co. and Zephyr Insurance Co., have completed the...
Excess Capacity Continues to Drive Rate Cuts at June Renewals: JLT Re Report
Jun 5 2017 // Reinsurance rates fell for the sixth consecutive year at the June 1, 2017 renewals, according to a market commentary published by JLT Re. JLT Re cited its Risk-Adjusted Florida Property-Catastrophe (ROL) Index which fell...
Texas Lawmakers Pass ‘Hailstorm’ Litigation Bill
Jun 5 2017 // Legislation backed by the insurance industry and some Texas business groups that curtails the ability of policyholders to sue insurance companies over property claims following extreme weather events passed the state...
P/C Insurers Positioned to Absorb Hurricane Season: Fitch
Jun 2 2017 // The 2017 U.S. hurricane season may be here, but property/casualty insurers should be able to handle the challenges it brings, Fitch Ratings said in a new report. “Fitch currently has a negative sector outlook on the...
