Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Insurance Industry Welcomes Terrorism Bill But Not Co-Pay Hike
Apr 15 2014 // Insurance industry lobbying groups are hopeful that the bipartisan legislation introduced in the Senate on April 10 to reauthorize the Terrorism Risk Insurance Act, or TRIA, will have a better chance for passage than some...
Oklahoma on a Tornado-Less Streak: 8 Months Without One
Apr 14 2014 // Oklahoma hasn’t had a tornado or a tornado warning for more than eight months, though it is doubtful Oklahoma will be able to match its longest streak ever without a twister. Things have been unusually quiet through...
Magnitude 7.6 Quake, Heavy Waves Strike Solomon Islands
Apr 14 2014 // A powerful magnitude-7.6 earthquake triggered large waves in the Solomon Islands on Sunday, and authorities were trying to determine if there was any serious damage or injuries. Government spokesman George Herming said...
Impact Forecasting to Launch Combined Chile Quake/Tsunami Cat Model
Apr 14 2014 // Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, announced the launch of a Chile earthquake model that also incorporates tsunami risks, the first such model to do so. The launch...
Use of Cellphone Tracking Device in Michigan County Questioned
Apr 11 2014 // Oakland County commissioners asked no questions last March before unanimously approving a cellphone tracking device so powerful it was used by the military to fight terrorists. Now, though, some privacy advocates question...
Central Oklahoma Rattled by Another Earthquake Swarm
Apr 11 2014 // No injuries or damage were reported after a series of earthquakes rattled central Oklahoma overnight, including a 4.1-magnitude temblor that woke many residents near Guthrie. The U.S. Geological Survey recorded four...
Chile Quake, Tsunami Losses Unlikely to Affect Local Insurers’ Ratings: Fitch
Apr 11 2014 // A bulletin from Fitch Ratings indicates that, based on preliminary analysis, Chile’s insurance industry solvency “will not be affected by the recent Iquique earthquake and tsunami. Chilean property/casualty...
45 Years Later, Hurricane Camille Downgraded
Apr 10 2014 // The National Hurricane Center has downgraded Hurricane Camille’s strength at its catastrophic landfall in 1969. The Category 5 hurricane came ashore along Mississippi’s coast. The storm was blamed for 256...
Forecasters See Quiet Atlantic Hurricane Season
Apr 10 2014 // Rising heat in the equatorial Pacific Ocean portends the quietest Atlantic hurricane season in five years, Colorado State University researchers said. Nine named storms, with winds of at least 39 miles (63 kilometers) per...
Senators Announce Bipartisan Bill to Reauthorize Terrorism Insurance
Apr 10 2014 // A bipartisan group of U.S. senators has agreed on legislation to extend the government’s financial backstop of terrorism insurance for seven years. The legislation would raise private insurers’ co-payments to...
NAPCO Report: Prices Decreasing, Competition Increasing in P&C Space
Apr 10 2014 // Insurers have become increasingly competitive and are reducing rates for most accounts as a result of low global insured catastrophe losses and added capacity from non-traditional market sources, according to wholesale...
N.Y. Bill to Standardize Hurricane Deductible Triggers Advances in Assembly
Apr 10 2014 // A proposed New York State bill to establish standards for hurricane windstorm deductible triggers is advancing in the state Assembly. The bill, A.2729, was reported out of the Assembly’s insurance committee Tuesday....
Estimate of Insured Losses in North Texas Storms Reaches $300M
Apr 9 2014 // The storms that rolled across the Denton area in north Texas in early April are estimated to have caused $300 million in insured losses. The area was hit by softball size hail and three tornadoes. The thunderstorms erupted...
Anticipating Hurricane Season, Florida Insurer Cancels Policyholders
Apr 7 2014 // A Florida insurer has decided to lessen its exposure in south Florida, cancelling thousands of policyholders in anticipation of the June 1 opening of hurricane season. People’s Trust Insurance Co. reported that it is...
Mississippi Sets Hurricane Deductible Rule
Apr 7 2014 // Mississippians will see uniform rules about when hurricane deductibles apply to their homeowners insurance under a law Gov. Phil Bryant signed last month. House Bill 756 requires Insurance Commissioner Mike Chaney to rule...
Future Tsunamis Planned for by California Harbors
Apr 7 2014 // Five California harbors are preparing for future tsunamis under a new state project that arms them with maps that identify potential problem areas. Officials with the California Geological Survey said the participating...
Environmental Exposure: Flood Risk in the Oil & Gas Industry
Apr 7 2014 // There has been much discussion regarding the increasing frequency and intensity of storms around the world. While both underwriters and insurance buyers are concerned with exposure to potential catastrophic losses from...
Large Hail, Tornadoes Pound Denton, Texas Area
Apr 4 2014 // An outbreak of severe thunderstorms north of Dallas, Texas, on Apr. 4 produced hurricane force winds, tornadoes and hail reported to be as large as grapefruits. Several communities are reporting extensive damage. Severe...
Alabama Braces for Possible Tornadoes
Apr 3 2014 // Forecasters say a pair of storm systems will bring the threat of isolated tornadoes to parts of Alabama. The National Weather Service expects severe weather to move into the state late Thursday into early Friday, with...
Texas Windstorm Insurer Sued for Passing on Ike Costs to Policyholders
Apr 2 2014 // A Corpus Christi man is suing the Texas Windstorm Insurance Association for hundreds of millions of dollars because he says it improperly passed on costs to policyholders like him after Hurricane Ike in 2008. Ramiro Gamboa...
