Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Katrina, Rita Flood Settlement Letters Mailed Out in Louisiana
Nov 11 2014 // Letters are going out this week to residents and businesses in New Orleans, St. Bernard Parish and the east bank of Jefferson Parish notifying them they could receive payments ranging from $1 to $463 for flood damage...
4.1 Magnitude Earthquake Recorded in Oklahoma
Nov 11 2014 // The U.S. Geological Survey has recorded a 4.1 magnitude earthquake near Stillwater, Okla. The USGS says the earthquake was recorded at 2:10 p.m. Sunday five miles southwest of Stillwater, about 45 miles northeast of...
Desktop Hurricane Tool Shows Storm Risk in Neighborhoods
Nov 7 2014 // When a hurricane comes ashore, there are so many dangers: tree-snapping winds, torrential downpours and even tornadoes spawned by the tempest itself. But it’s the wall of water that tropical systems push onto land,...
Swiss Re Net Income Rises 14%, Supported by Lower Catastrophe Losses
Nov 7 2014 // Swiss Re AG, the world’s second- biggest reinsurer, said third-quarter profit rose 14 percent, beating analysts’ estimates, following lower-than-expected losses from natural catastrophes. Net income rose to...
U.S. Attorney: Hurricane Katrina Fraud Complaints Still Coming In
Nov 6 2014 // Hurricane Katrina generated more than 30,000 fraud complaints and agencies still receive complaint calls relating to the 2005 storm, according to Walter Green, U.S. Attorney for the Middle District of Louisiana. Green,...
Impact Forecasting: Costs of Tropical Cyclones Up for Non-U.S. Exposures
Nov 6 2014 // Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, released the latest edition of its monthly Global Catastrophe Recap report, which reviews the natural disaster perils that...
Hannover Re 3rd Quarter Profit Rises 21% on Benign Hurricane Season
Nov 5 2014 // Hannover Re, the world’s third- biggest reinsurer, said third-quarter profit rose 21 percent, helped by a benign U.S. hurricane season and higher income from investments. Net income rose to 251 million euros ($315...
State Auto Financial Reports $11.9M Net Income in Q3 2014
Nov 4 2014 // Columbus, Ohio-based State Auto Financial Corp. reported third quarter 2014 net income of $11.9 million, or $0.28 per diluted share, versus net income of $18.5 million, or $0.45 per diluted share, for the third quarter of...
Texas Windstorm Insurance Association Expert Panel to Meet
Nov 4 2014 // The Texas Department of Insurance announced that the Texas Windstorm Insurance Association expert panel will hold a public meeting on Nov. 12 to discuss the progress of the panel’s work thus far. Attendees will have...
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...
