Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
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...
California Suburban Wildfire Sparked by Power Tool
Apr 29 2015 // Los Angeles fire officials say a brush fire in California that that briefly threatened homes in a heavily populated suburban neighborhood was caused by sparks from a power tool that a homeowner was using to clear...
Hurricane Sandy Judges Demand Clearing of Settlement Roadblocks
Apr 28 2015 // Federal officials and flood insurance companies were chastised by a panel of New York judges for imposing delays on settlements with hundreds of Hurricane Sandy victims who alleged their claims were wrongfully denied or...
Storm Shelter Permit Applications Rise in Moore, Oklahoma
Apr 28 2015 // Applications to build storm shelters have spiked a month after a tornado touched down in Moore, Okla. Moore spokeswoman Deidre Ebrey says officials there have noticed an increase in the number of people applying for storm...
Update: Nepal Says Earthquake Rebuilding to Exceed $10B, Will Take Years
Apr 28 2015 // The cost to rebuild Nepal after its most devastating earthquake in eight decades will exceed $10 billion and take years, Finance Minister Ram S. Mahat said. The death toll from the 7.8 magnitude temblor on April 25 has...
Nepal Earthquake Losses Could Top $2 Billion; Sparse Insurance Coverage
Apr 27 2015 // The earthquake that struck Nepal caused about $2 billion in economic losses in the country, and only a fraction of the cost will be incurred by insurers, according to Kinetic Analysis Corp. Damage in India could cost an...
North Texas Hit with Tornadoes, Large Hail
Apr 27 2015 // The National Weather Service said as many as 12 tornadoes and hail the size of softballs pounded portions of north Texas overnight. The storms turned violent beginning near Rising Star in Eastland County and proceeded...
Seasonal Tornado Forecasts Being Developed by Oklahoma Researchers
Apr 27 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...
Deadly Quake in Nepal; Aftershocks, Weather Hamper Rescue: AIR Analysis
Apr 27 2015 // As scenes of devastation flashed around the world, the destruction and loss of life from the most severe earthquake to hit Nepal in 80 years has become apparent. Catastrophe modeling firm AIR Worldwide said the quake...
Bird Flu ‘Catastrophe’ Growing in Midwest
Apr 24 2015 // Deadly bird flu swelled in the poultry industry in Minnesota and neighboring Wisconsin amid speculation that winds may be carrying virus particles into facilities housing turkeys and chickens. “This is a catastrophe...
California Department of Insurance Approves CEA Rate Reduction
Apr 23 2015 // California Insurance Commissioner Dave Jones approved a statewide rate reduction of 10 percent for earthquake insurance policies issued by the California Earthquake Authority. The reduction is effective Jan. 1, 2016. Jones...
Oklahoma Geologists Also See Earthquake-Injection Well Link
Apr 23 2015 // The Oklahoma Geological Survey said it is “very likely” that most of the state’s recent earthquakes were triggered by the subsurface injection of wastewater from oil and natural gas drilling...
Tornado Damages Dozens of Homes in Ocala
Apr 23 2015 // Authorities say a tornado touched down in an area of north Florida where dozens of homes were damaged by wind and failing trees. The Ocala Star Banner reported that no one was injured but at least a half dozen homes...
Texas Earthquake Swarm Linked to Drilling, Wastewater Injection
Apr 22 2015 // With real-time monitors, scientists have linked a swarm of small earthquakes west of Fort Worth, Texas, to nearby natural gas wells and wastewater injection. In 84 days from November 2013 to January 2014, the area around...
Insurers Declare Catastrophe for Storm Battered Parts of New South Wales
Apr 22 2015 // The Insurance Council of Australia (ICA) this morning declared a catastrophe for storm-affected parts of New South Wales [NSW], in particular the Central Coast, Hunter, Greater Sydney Metropolitan and Illawarra...
Earthquake Fault Puts California at Risk For Tsunami
Apr 21 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 Los Angeles...
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...
