Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Texas Coast Wind Insurer: Position for Hurricane Season Is ‘Strongest-Ever’
Jun 3 2016 // With its reinsurance program now in place, the Texas Windstorm Insurance Association (TWIA) says it is in its strongest-ever position for this year’s hurricane season with $4.9 billion in total funding available to...
Insurance Rates Unlikely to Rise a Lot Even If Hurricane Season is Above Normal: Fitch
Jun 2 2016 // Hurricane forecasters may be split on whether the 2016 Atlantic hurricane season will be above average or normal, but even a higher level of storms might not boost property insurance prices to levels seen in prior market...
Atlantic Coast Should Expect Normal Hurricane Season, Says Colorado State
Jun 2 2016 // The Atlantic should produce a near-normal 12 storms during the six-month hurricane season that officially begins Wednesday, while the U.S. coastline has a below-average chance of being struck by a major system, according...
Fitch: Florida Specialist Insurers Largely Untested By Hurricanes
Jun 2 2016 // The majority of Florida’s homeowner specialist insurers have brief histories, and their ability to manage a large catastrophic hurricane is uncertain despite recent strong performance, according to a new report from...
More than 6.8 Million US Homes at Risk of Hurricane Storm Surge Damage
Jun 1 2016 // This post is part of a series sponsored by CoreLogic. Total Reconstruction Cost Value is More Than $1.5 Trillion Current projections for the 2016 hurricane season indicate that an average or slightly greater-than-average...
Canada ‘Needs to Do More’ to Mitigate Climate Disasters Such as Wildfires, Flood
Jun 1 2016 // The Canadian government needs to do more to mitigate climate disasters such as floods and wildfires, a top green watchdog said on Tuesday as the Alberta town of Fort McMurray struggled to recover from a huge...
GOES-R Satellite Promises Less Art, More Science in Storm Forecasting
Jun 1 2016 // For forecasters trying to better pinpoint the havoc of storms, the future begins next year. That’s when the test phase for the new GOES-R satellite should be complete, providing the National Weather Service with an...
South Carolina Insurance Head Talks Lessons Learned After Historic Flood
May 31 2016 // This aerial photo show flooding around homes in the Carolina Forest community in Horry County, between Conway and Myrtle Beach, S.C. The state was pummeled in early October by a historic rainstorm that caused widespread...
NOAA’s 2016 Atlantic Hurricane Season Forecast: 45% Chance of Near-Normal; 30% Above Normal
May 27 2016 // Forecasters at NOAA’s Climate Prediction Center say the 2016 Atlantic hurricane season, which runs from June 1 through November 30, will most likely be near-normal, but they also say this season is particularly...
With Hurricane Season About to Open, Forecasters Already Eyeing East Coast
May 27 2016 // When the Atlantic hurricane season starts next week, the most active area might just be off the U.S. East Coast. At this time of year, passing cold fronts that linger over waters warmed by the late spring sun can trigger...
Hurricane Center Updating Storm Surge Maps for North Carolina’s Outer Banks
May 27 2016 // New storm surge maps for the Outer Banks of North Carolina will be available this summer. The Virginian-Pilot of Norfolk reported that the National Hurricane Center will release the maps to predict where and how deep...
Texas’ Coastal Wind Insurer Expects $4.9B in Funds for 2016 Hurricane Season
May 27 2016 // While its reinsurance plans for the 2016 hurricane season haven’t yet been nailed down, Texas’ insurance company of last resort for wind and hail along the Texas coast expects to have around $4.9 billion in...
Tornadoes Destroy Homes in Western Kansas, Damage Assessment Begins
May 26 2016 // Crews were evaluating the damage Wednesday after tornadoes destroyed several homes and left two people critically injured in western Kansas as a series of severe storms swept across the Plains. Meanwhile, one person...
Oklahoma Commissioner: 4 Insurers Have 55% of Earthquake Market
May 25 2016 // Data released at a May 24 hearing to determine the competitiveness of earthquake insurance coverage in Oklahoma shows that four insurance companies have 55 percent of the market in the state. That’s a concern for...
Oklahoma Regulators Warn Insurers on Earthquake Coverage Hikes
May 25 2016 // Oklahoma regulators grappling with a massive increase in small earthquakes in the state linked to growing oil and gas production said on May 24 they were concerned with spiking rates for earthquake insurance coverage and...
Oregon Transportation Needs Include Preparing for Earthquake Damage
May 25 2016 // A major fault off the Oregon Coast is expected to produce an earthquake, and transportation officials say preparing for that event needs to be a top priority. The Medford Mail Tribune reported a Cascadia Subduction Zone...
Canada’s Oil Sands Facilities Prepare to Restart as Wildfires Begin to Slow
May 25 2016 // All of the Canadian oil-sands facilities that workers fled last week as a wildfire spread are being allowed to prepare for restart as cool, humid weather has helped contain the inferno. Alberta lifted mandatory evacuation...
Citizens Board Approves $2.46B Risk Transfer Program for 2016 Hurricane Season
May 25 2016 // Florida’s Citizens Property Insurance Corporation’s Board of Governors has approved a $2.46 billion risk transfer program as the state heads into the 2016 hurricane season, the insurer said in a statement. By...
3 Tornadoes Reported in South Dakota
May 24 2016 // Severe storms that crossed South Dakota led to reports of at least three tornadoes, including one that caused damage. The National Weather Service says a tornado in Tripp County on Sunday evening prompted reports of downed...
AIA Urges Mitigation, not Regulation to Ease Oklahoma’s Quake Coverage Woes
May 24 2016 // In testimony submitted to Oklahoma’s insurance commissioner, the American Insurance Association (AIA) has suggested that the state look at mitigation, rather than further regulation of the earthquake insurance market...
