Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
South Carolina Approves CAT Models, Weighs Building Public Model
Nov 4 2014 // South Carolina regulators have approved seven private catastrophe models for use in ratemaking while conducting a legislatively mandated study on the feasibility of constructing a public model. South Carolina Insurance...
Hedge Funds Need to Be Wary of Push Into Catastrophe Risks: XL Group
Nov 3 2014 // Hedge funds looking for new investments may be pushing too fast into insurance, said Michael McGavick, the chief executive officer of XL Group plc. McGavick joins Franklin Montross, the CEO of Berkshire Hathaway...
South Carolina Approves CAT Models, Weighs Building Public Model
Nov 3 2014 // South Carolina regulators have approved seven private catastrophe models for use in ratemaking while conducting a legislatively mandated study on the feasibility of constructing a public model. South Carolina Insurance...
Jury Finds Texas Windstorm Insurer Adequately Paid City for Ike Claims
Nov 3 2014 // Texas’ wind and hail insurer of last resort in coastal areas announced that a judgment has been entered in its favor in a lawsuit brought by League City in Southeast Texas. The judgment signed on Oct. 16, 2014, by...
Zombie Storms Cause Damage After Hurricanes
Oct 31 2014 // A hurricane may lose its name, its structure and even its place on National Hurricane Center tracking maps. None of that is a guarantee the storm’s meteorological energy won’t keep making mischief. While still...
Tropical Storm Heads to Mexico’s Western Coast
Oct 31 2014 // With just about a month left in the eastern Pacific’s hurricane season, Mexico is once again the target of a tropical system on its western coast. The latest system, Tropical Storm Vance, was drifting west in the...
Regulator Takes Focus on Climate Change Preparedness
Oct 30 2014 // With a calm demeanor and in a somewhat scientific tone he doesn’t mind using while explaining his stance on something, Mike Kreidler stood by his decision to call out the insurance industry and the rest of the...
Hanover Insurance’s Q3 Net Income Falls 10% to $55M
Oct 30 2014 // The Hanover Insurance Group Inc. reported $54.9 million net income for its 2014 third quarter, a 10.4 percent decline compared with $61.3 million net income during the third quarter of 2013. The Worcester,...
Oklahoma Judge Throws Out Lawsuit over Earthquake, Disposal Wells
Oct 29 2014 // A judge has thrown out a lawsuit over an earthquake that injured a woman, finding that the case should instead be heard by the Oklahoma Corporation Commission. In August, Prague resident Sandra Ladra filed a lawsuit...
Mississippi County Seeks to Turn April’s Tornado Tragedy Into Opportunity
Oct 29 2014 // Six months after a devastating tornado, Winston County’s hospital is still operating out of tents and shipping containers, home rebuilding is sputtering along and it may be another year before a new plywood mill...
Hedge Funds Move Into Catastrophe Reinsurance
Oct 29 2014 // Hedge funds are muscling their way into the market to share the cost of cleaning up after natural catastrophes, but skeptics are questioning whether they will stick around ahead of the next “big one” as...
The Hartford Profit Up 32% in Q3
Oct 29 2014 // The Hartford reported third quarter 2014 net income totaled $388 million, up 32 percent from $293 million in third quarter 2013. The insurer said core earnings were $477 million for the three months ended Sept. 30, 2014,...
Remnants of Hurricanes Still Can Be Powerful – and Dangerous
Oct 28 2014 // A hurricane may lose its name, its structure and even its place on National Hurricane Center tracking maps. None of that is a guarantee the storm’s meteorological energy won’t keep making mischief. While...
Texas to Hold Hearing on Windstorm Association Maximum Limits
Oct 27 2014 // The Texas Department of Insurance has scheduled a public hearing to consider the Texas Windstorm Insurance Association’s (TWIA) petition related to the maximum limits of liability for windstorm and hail insurance...
Louisiana Parish Still Working on Tornado Damage Estimate
Oct 27 2014 // The tornadoes that hit Louisiana’s Ouachita Parish on Oct. 13 did millions of dollars in damage, but officials don’t know whether it will be enough to qualify the parish for help from the Federal Emergency...
Washington City Takes Stock Of Damage Following Tornado
Oct 27 2014 // The southwest Washington city of Longview tallied the damage Friday from a rare tornado that tore off roofs, broke windows and uprooted trees, leaving residents and officials in disbelief. No one was injured in the...
Carpenter Report Details Impact of 2004 & 2005 Hurricane Seasons
Oct 27 2014 // Guy Carpenter & Company released Part II of the two-part Ten-Year Retrospective of the 2004 and 2005 Atlantic Hurricane Seasons. Part II focuses on the 2005 hurricane season and the cumulative effects of both the 2004...
Chubb Reports ‘Outstanding’ Q3
Oct 24 2014 // Calmer weather, rate increases, high account retention and lower expenses powered The Chubb Corp. to a what the firm’s CEO said was an “outstanding” third quarter. The New Jersey-based insurer reported...
California Earthquake Authority Proposes to Lower Rates
Oct 23 2014 // The California Earthquake Authority on Thursday proposed an average 8 percent decrease in rates. CEA’s Advisory Panel recommended the rate decreases, along with additional coverage options in deductibles, discounts...
Early Insured Loss Estimates on Hurricane Gonzalo Up to $400M
Oct 23 2014 // Early estimates by catastrophe modeling firms indicate insured losses from Hurricane Gonzalo in Bermuda will come in between $200 and $400 million. EQECAT estimates $300 million in insured losses, about the scale caused by...
