Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Climate Change to Worsen Nat Cat Impact on Creditworthiness: S&P Report
Apr 21 2015 // Standard & Poor’s Ratings Services has issued a report warning that, “while recent history shows that natural catastrophes may have not been a major rating factor on corporate credit quality in the past,...
Judge Rejects Effort to Undo California Wildfire Settlement
Apr 20 2015 // A judge has rejected a California timber company’s attempt to undo a $47 million legal settlement for a massive 2007 wildfire. Sierra Pacific Industries had accused federal prosecutors of engaging in misconduct. But...
Settlement Talks Continue in Arizona Wildfire Wrongful Death Case
Apr 20 2015 // Parties in a wrongful-death lawsuit stemming from the 2013 Yarnell Hill Fire say they need more time to discuss a settlement. Lawyers for the sides told a U.S. District Court judge on Friday that they’re working in...
Guy Carpenter Launches Public Sector Specialty Practice
Apr 20 2015 // Guy Carpenter has announced the launch of its Public Sector Specialty Practice, utilizing a global team focused exclusively on the unique risk management needs of governmental agencies and entities. “Approximately 73...
Caribbean, Central American Countries Sign Cat Risk Insurance Partnership
Apr 20 2015 // The Council of Ministers of Finance of Central America, Panama and the Dominican Republic (COSEFIN) and CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) have signed a memorandum of understanding that...
Forecasters: Slow Hurricane Season Expected in 2015
Apr 20 2015 // The Atlantic hurricane season in 2015 will see fewer than the average number of storms, according to Colorado State University researchers. Philip Klotzbach and William Gray said cooler ocean temperatures and the...
Industry, Consumer Group Spokesman Express Opposition to Texas Windstorm Bill
Apr 20 2015 // It’s not often you find an area of agreement between the property/casualty insurance industry and consumer advocacy organizations, but a Texas bill addressing the state’s coastal windstorm insurance pool has...
Family Donates $1M to Louisiana Hurricane Museum
Apr 20 2015 // The National Hurricane Museum and Science Center in Lake Charles, La., has received a financial shot in the arm, with a $1 million donation by the Stream family. Gray Stream, the center’s board chairman, told the...
Texas, Louisiana Improve Building Code Rankings but More Work Needed
Apr 20 2015 // Texas doesn’t have the worst score in a recent ranking of state building code systems but it’s pretty close to the bottom, according to a national organization committed to improving the ability of properties...
Pacific May Signal South Tornadoes
Apr 20 2015 // Southern states might look to the Pacific for an idea of what the future holds for tornado activity. The waters of the Pacific Ocean may provide some clues about tornadoes in the South, according to a paper in the journal...
Forecasters See Calm Hurricane Season
Apr 20 2015 // The Atlantic hurricane season in 2015 will see fewer than the average number of storms, according to Colorado State University researchers. Researchers Philip Klotzbach and William Gray said that cooler ocean temperatures...
Chubb Estimates Q1 Catastrophe Losses of $250M
Apr 20 2015 // The Chubb Corporation announced on April 7 that it estimates the impact of losses from catastrophes for the first quarter of 2015 to be approximately $250 million before tax ($0.69 per share after tax). The Warren, New...
Philippines Eyes Catastrophe Bonds to Cut Post-Typhoon Rebuilding Costs
Apr 17 2015 // The Philippines suffered $13 billion of damage when Super Typhoon Haiyan tore through the country in 2013, a year after another storm killed 1,067. Now, the nation is looking at defraying the costs of future calamities...
$1B Bond Sale to Bolster Florida’s Citizens ‘Just In Case’
Apr 16 2015 // Florida hasn’t been hit by a hurricane since 2005, the longest stretch in more than a century. Its state-run property insurer isn’t taking any chances. Even though forecasters predict this year will produce the...
Catastrophe Bond Issuance Breaks New Q1 Record: Aon Benfield Report
Apr 16 2015 // Catastrophe bond issuance for the first quarter reached a record $1.7 billion – higher than any other first quarter issuance in the history of the insurance linked securities sector (ILS), according to a report published...
Penn.: Fracking Exclusion Not Allowed in Homeowners Earthquake Endorsements
Apr 15 2015 // The Pennsylvania Insurance Department issued a notice telling insurance companies that earthquake endorsements to homeowners insurance policies in Pennsylvania cannot exclude coverage for earthquakes that may be caused by...
Pacific Northwest Study Says More Could Survive Tsunami if They Can Just Walk Faster
Apr 15 2015 // About 5,500 more people could survive a major tsunami hitting the Pacific Northwest if they just walk a little faster to higher ground after roads are knocked out, a new study shows. The report published Monday in the...
Texas, Louisiana Improve Building Code Rankings; More Work Needed
Apr 14 2015 // Source: Jocelyn Augustino/FEMA Texas doesn’t have the worst score in a recent ranking of state building code systems but it’s pretty close to the bottom, according to a national organization committed to...
M3.5 Earthquake Felt Across Los Angeles Area
Apr 14 2015 // A small earthquake was felt across a wide area of Los Angeles on Sunday night, but there were no immediate reports of damage or injury. The magnitude-3.5 quake struck at 9:17 p.m., the U.S. Geological Survey said. Los...
U.S. Judge Upholds Liability of Arab Bank for Terrorist Financing
Apr 13 2015 // A U.S. judge on Wednesday rejected Arab Bank Plc’s bid to overturn a jury verdict finding it liable for knowingly supporting terrorism efforts related to a series of attacks in the Middle East. The Jordan-based bank...
