Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Nepal Quake Biggest April Disaster: Aon Benfield/Impact Forecasting
May 8 2015 // Aon Benfield’s Impact Forecasting’s monthly catastrophe report for April highlights the catastrophic damage throughout Nepal, India, China, and Bangladesh, caused by the magnitude-7.8 earthquake that struck...
State of Emergency Declared in Oklahoma Following Severe Storms, Tornados
May 7 2015 // Oklahoma Gov. Mary Fallin has declared a state of emergency after an outbreak of severe storms that swept across the state on May 6 bringing tornados, high winds, hail and flooding. At least 39 tornados were reported to...
Jardine Lloyd Thompson Capital Markets Adds $10M Cat Bond to Florida Book
May 7 2015 // Jardine Lloyd Thompson Capital Markets (JLTCM) Inc., part of JLT Re, has arranged a private placement catastrophe bond, Market Re 2015-1, which closed at $10 million. The new bond provides one year indemnity-based...
RenaissanceRe Reports Q1 Net Income of $167.8M, Up From $151M in Q1 2014
May 6 2015 // Bermuda-based RenaissanceRe Holdings Ltd. reported net income available to RenaissanceRe common shareholders of $167.8 million, or $4.14 per diluted common share, in the first quarter of 2015, compared to $151.0 million,...
NOAA in Miami to Send More Hurricane Drones into Atlantic this Season
May 6 2015 // Scientists are planning to send more drones flying into hurricanes that develop during the upcoming Atlantic storm season. The National Oceanic and Atmospheric Administration first launched the 13-pound winged drones into...
Verisk Expands Wildfire Risk Service to 3 More States
May 5 2015 // Verisk Insurance Solutions has added Montana, Oklahoma and Wyoming to its FireLine wildfire risk management service. FireLine provides information to insurers to analyze wildfire risk at the individual address...
Australian Storms Trigger ICA’s 5th Catastrophe Declaration for 2015
May 5 2015 // Thousands of claims, lodged from SE Queensland and Northern NSW storms, have now been declared catastrophes – the 5th such declaration this year – by the Insurance Council of Australia (ICA). Most of the insured damage...
Fitch Upgrades Citizens’ Coastal Account, Outlook Stable
May 5 2015 // Fitch Ratings has assigned an ‘AA-‘ rating to the following senior secured bonds of the Citizens Property Insurance Corp., Coastal Account (formerly known as the High Risk Account): –$750 million series...
Wildfires Burn Buildings, Cause Evacuation in Central Wisconsin
May 4 2015 // Six buildings caught fire and 15 homes had to be evacuated as warm weather and dry conditions helped fuel wildfires in central Wisconsin. Catherine Koele, the wildfire prevention specialist for the state Department of...
2 Small Weekend Earthquakes Shake Central Mississippi
May 4 2015 // State emergency officials said no injuries or major damage were reported Saturday night as two small earthquakes briefly shook central Mississippi – a part of the state where quakes are unusual. The U.S. Geological...
Earthquake Fault Puts California at Risk for Tsunami
May 4 2015 // Scientists say the earthquake fault that runs through the coastal city of Ventura, Calif., can produce strong shaking and dangerous tsunamis, prompting state officials to study whether to revise hazard maps. The new...
Penn. Nixes Fracking Exclusions in Earthquake Endorsements
May 4 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...
Researchers in Oklahoma Developing Seasonal Tornado Forecasts
May 4 2015 // Weather researchers in Oklahoma are working on a method to develop seasonal tornado forecasts that could predict the likelihood of the severe storms weeks in advance. Harold Brooks, senior research scientist at the...
North Texas Hit with Tornadoes, Large Hail
May 4 2015 // The National Weather Service said as many as 12 tornadoes and hail the size of softballs pounded portions of north Texas during the weekend of April 24 – 26. The Insurance Council of Texas reported that the storms...
Property Claim Litigation Bill Passed by the Texas Senate
May 1 2015 // The Texas Senate on April 30 passed a bill aimed at stemming the onslaught of property claim litigation that has been occurring with increasing frequency in the state following natural catastrophes. Advocates of Senate...
2 Lawsuits Over 2013 Arizona Wildfire Dismissed by Judge
May 1 2015 // Two lawsuits filed against Arizona by homeowners whose properties were destroyed by the Yarnell Hill Fire have been dismissed. A Maricopa County Superior Court judge agreed Wednesday with the state’s argument that it...
Indiana Township Gets Tornado Siren with Girl Scout’s Help
Apr 30 2015 // A small township east of Indianapolis has its first tornado siren thanks to the efforts of a Girl Scout. WISH-TV reports the siren was installed April 28 in the Hancock County community of Green Township. The nearest siren...
60K Auto Insurance Claims Expected from April Hailstorms in Texas
Apr 30 2015 // Multiple hailstorms in Texas over the second half of April are expected to result in at least 60,000 auto insurance claims, the Insurance Council of Texas reported. “Hail and windstorm claims are still coming in from...
Catastrophe Bonds Risk Subprime Slice-Up, Swiss Re Says
Apr 30 2015 // Swiss Re, Europe’s second-biggest reinsurer, said regulators should prevent catastrophe bonds from being repackaged like subprime mortgages. “It’s important for traditional players like us and regulators...
AXIS Reports Q1 Operating Income of $136M on Low Catastrophe Losses
Apr 30 2015 // Bermuda-based AXIS Capital Holdings Limited reported net income available to common shareholders for the first quarter of 2015 of $156 million, or $1.54 per diluted common share, compared with $137 million, or $1.24 per...
