Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Proof of Loss Deadline Extended for Florida Hurricane Matthew Claims
Feb 8 2017 // The Florida Office of Insurance Regulation announced that the Federal Emergency Management Agency (FEMA) has granted another extension giving National Flood Insurance Program (NFIP) policyholders in Florida an additional...
Demotech Suspends Florida Insurer Rating Criteria; Says Downgrades Coming
Feb 7 2017 // Recent Florida Supreme Court decisions and ongoing abuse in Florida’s insurance market have led a ratings company to change the criteria it uses when rating insurers in the state. The announcement comes as insurers...
Amica Mutual Downgraded by A.M. Best Citing Increasing Catastrophe Losses, Auto Claims
Feb 6 2017 // Amica Mutual Insurance Co. no longer has a perfect financial strength rating from A.M. Best. More catastrophe losses and worsening automobile insurance claims severity are both to blame. Specifically, an A+ (Superior)...
EPA to Oklahoma Officials: Do More to Curb Earthquakes
Feb 6 2017 // The Environmental Protection Agency told Oklahoma regulators last November to do more to protect the state from a surge in earthquake activity that scientists have linked to the underground disposal of oil and gas...
Tennessee Wildfire Insurance Claims Hit $842M
Feb 6 2017 // Tennessee state officials said last month that insurance claims have topped $842 million in the deadly eastern Tennessee wildfires that burned thousands of buildings. The Knoxville News Sentinel reported the number,...
Drought-Hit Oklahoma Under Rare National Fire Advisory
Feb 3 2017 // Oklahoma has been placed under a national fire advisory as much of the state struggles with unrelenting drought and tinder-dry vegetation capable of igniting and quickly spreading out of control, state forestry officials...
Allstate Profit Up for 2016 Despite Higher Catastrophe Losses
Feb 3 2017 // Allstate ended 2016 with a solid profit thanks to premium hikes and tighter underwriting, despite a $853 million jump in catastrophe losses over the previous year. The property/casualty insurer ended up with more than $2.5...
Flooding and Damaging Wind Were Most Destructive Natural Hazards in 2016
Feb 2 2017 // This post is part of a series sponsored by CoreLogic. Annual Summary from CoreLogic Details 2016 Natural Hazard Events CoreLogic® analyzes and evaluates the number and severity of natural hazard events that occurred...
Texas Governor Calls for Legislation to Rein in Hailstorm Litigation
Feb 2 2017 // In his state of the state address, Texas Gov. Greg Abbott gave a boost to the insurance industry’s effort to get legislation passed that would place limits on post-hailstorm litigation. Calling lawsuits against...
Strong Chubb 2016 Results Reflect Benefits of Merger: Greenberg
Feb 2 2017 // Chubb Limited CEO and Chairman Evan G Greenberg said that the company’s 2016 financial results have reflected the benefits of the nearly $30 billion ACE/Chubb merger that created today’s Chubb about one year...
Research Shows California Homeowners Lack Understanding of Retrofitting
Feb 1 2017 // A new study on California homowners shows a general awareness of earthquakes and other natural hazards, but that those owners did not necessarily take action to mitigate risks, and many didn’t know whether their home...
Earthquake Felt Widely in Anchorage Region of Alaska
Feb 1 2017 // A moderate earthquake struck Tuesday that was widely felt in the Anchorage, Alaska area, but there were no reports of damage. The Alaska Earthquake Center says the magnitude-5.2 temblor struck at 12:38 a.m. and was...
PERILS Forms Alliance with CatIQ to Provide Industry Loss Data for Canada
Feb 1 2017 // PERILS, the independent Zurich-based organization that provides industry catastrophe insurance data, has announced that it has entered a strategic alliance with Toronto-based Catastrophe Indices & Quantification Inc....
New Tsunami Warning System Could Add Vital Minutes of Warning for Indonesia
Feb 1 2017 // Indonesia’s tsunami detection system, made up of seafloor sensors that communicate with transmitting buoys on the surface, has been rendered useless by vandals and lack of funding. Now Indonesian and U.S. scientists...
North Carolina to Receive $198M in Federal Grant for Hurricane Matthew Relief
Feb 1 2017 // North Carolina has been officially awarded nearly $200 million from the federal government for Hurricane Matthew relief that Congress approved last month in a larger spending agreement. Gov. Roy Cooper’s office says...
Mississippi Estimates More Than $1M in Timber Damaged by Tornado
Jan 31 2017 // More than $1 million worth of timber was destroyed by the tornado that hit Lamar, Forrest and Perry counties. The Mississippi Forestry Commission announced the estimate Friday based on aerial damage assessments. The...
ARC, Topa Insurance Launch Coverage for Post-Hurricane Losses in Florida
Jan 31 2017 // Topa Insurance Co. has formed an exclusive partnership with Assured Risk Cover (ARC) to launch StormPeace, an insurance product in Florida designed to protect insureds from economic loss incurred by a named hurricane and...
Georgia Insurance Department to Hold Claims Village in Albany for Tornado Victims
Jan 30 2017 // Georgia Insurance Commissioner Ralph Hudgens will host a Catastrophe Claims Village in Albany, on Tuesday, Jan. 31, and Wednesday, Feb. 1, according to a statement from the Georgia Department of Insurance. The purpose of...
Wildfires in Central Oklahoma Destroy Homes, Damage Structures
Jan 26 2017 // Authorities say at least two homes were destroyed in a fast-moving wildfire that burned in central Oklahoma on Tuesday. Wildfires, fueled by dry vegetation and strong winds, also damaged or destroyed other structures in...
California Homeowner Registration Starts for 2017 Brace + Bolt Program
Jan 26 2017 // The 2017 Earthquake Brace + Bolt program opened registration this week for $6 million in grants for seismic retrofits. This represents a 25 percent increase in funding over last year to help California homeowners protect...
