Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
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...
5.0M Earthquake Felt In Alaska’s Interior
Oct 22 2014 // Seismologists say a moderate earthquake struck Alaska and was felt in communities of the state’s interior. The Alaska Earthquake Center says the 5.0 magnitude earthquake occurred at 4:36 p.m. Monday. State...
New York’s Pace University Holds Disaster Preparedness Conference
Oct 21 2014 // Pace University in New York City held a conference Monday titled “Summit on Resilience: The Next Storm.” The event brought together corporate and foundation leaders and government representatives, providing a...
Remnants of Hurricane Gonzalo Bring Rain, Wind to Europe
Oct 21 2014 // The remnants of Hurricane Gonzalo battered Ireland and the United Kingdom with locally damaging winds and downpours on Monday night and Tuesday. Widespread wind gusts of 65 to 90 kph (40 to 55 mph) were reported across...
Jury Finds Texas Windstorm Insurer Adequately Paid City for Ike Claims
Oct 21 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...
Travelers’ Profit Up 6% for Q3 on Investment Income, Lower Cat Losses
Oct 21 2014 // The Travelers Companies Inc. today reported net income of $919 million for the quarter ended Sept. 30, 2014, up more than six percent compared to net income of $864 million in the prior year quarter. Operating income in...
Aon Benfield Launches Arabian Earthquake Model
Oct 21 2014 // Impact Forecasting, Aon Benfield’s catastrophe model development unit, launched a catastrophe model to estimate the financial impact of earthquakes in the Arabian Peninsula. The demand for catastrophe modeling in the...
