Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Hurricane Arthur Prompts North Carolina Coast Evacuations, East Coast Flood Watches
Jul 3 2014 // Hurricane Arthur gained strength as it bore down on North Carolina’s Outer Banks, where some residents and visitors were ordered to evacuate as the Atlantic’s first storm of the season moved north. Arthur was...
UN, IIS, Willis Urge ‘Convergence of Communities’ to Face Climate Change
Jul 2 2014 // The third day of the International Insurance Society’s Annual Seminar was an all-day session devoted entirely to the threat posed by climate change, the studies of its risks and the solutions available to face...
Forecast Update: North Carolina on Watch for Hurricane Arthur
Jul 2 2014 // Tropical Storm Arthur is forecast to strengthen into a hurricane within two days and threaten North Carolina’s Outer Banks, where tourists are visiting for the Fourth of July holiday, while also adding to heavy rain...
GC Securities Places $30 Million World Bank Cat Bond for CCRIF
Jul 2 2014 // GC Securities, a division of MMC Securities Corp., a U.S. registered broker-dealer and member FINRA/NFA/SIPC, announced the placement of Floating Rate CCRIF Catastrophe-Linked Capital at Risk Notes, with notional principal...
Brokers Say Reinsurance Prices under Pressure at Mid-year Renewals
Jul 2 2014 // Reinsurance prices fell by as much as 25 percent in key markets mid-year as pension funds poured in money and demand for cover from insurance companies remained subdued, brokers said on Tuesday. Reinsurers have been...
Reinsurers Starting to Drop their Terrorism Exclusions
Jul 1 2014 // As property insurers lock up their July 1 reinsurance renewals, many are finding a bonus surprise above and beyond the soft pricing environment – the terrorism exclusions that have been standard in reinsurance contracts...
Tropical Depression Could Grow Into North Carolina Hurricane Arthur
Jul 1 2014 // A tropical depression off the coast of Florida is forecast to grow into Hurricane Arthur and strike North Carolina’s Outer Banks during the Fourth of July holiday. The storm was stationary 95 miles (153 kilometers)...
Tornado Recovery in Nebraska Town Expected to Cost Tens of Millions
Jun 30 2014 // Nebraska officials are still tallying the cost of the tornadoes that destroyed most of the town of Pilger, but it’s expected to climb into the tens of millions. The Nebraska Emergency Management Agency will send...
June Closes with Severe Storms; Tropical Storm Could Skirt East Coast July 4th
Jun 30 2014 // Forecasters are watching a potential tropical system that may skirt the U.S. East Coast this week, brushing past major Northeastern cities in time for the Fourth of July holiday. The collection of thunderstorms now about...
EF-1 Tornado Touches Down Near Indianapolis
Jun 26 2014 // A tornado-producing storm that hit central Indiana on June 24 damaged several homes in Indianapolis and its outskirts, downed power lines and uprooted trees, authorities said. It was one of several thunderstorms that...
Lawsuit: Arizona Mismanaged Deadly Wildfire
Jun 26 2014 // Dozens of property owners in central Arizona are suing the state, saying it failed miserably in its management of a wildfire that killed 19 Hotshots. The lawsuit filed in Maricopa County Superior Court seeks unspecified...
Tornado, Severe Storms Damage Homes in Ohio
Jun 26 2014 // Parts of Ohio are again cleaning up after severe storms rolled through — including a tornado that touched down in northeast Ohio. The National Weather Service confirmed a high EF1 or EF2 tornado touched down on June 23...
Louisville, Mississippi, Gets $10M Insurance Check for Tornado-Damaged Plant
Jun 25 2014 // The Norman Regional Health System in Oklahoma has donated $48,000 to the Winston County Medical Center in Louisville, Mississippi. Norman Regional Health System President and CEO David Whitaker says the company wanted to...
Tsunami Bulletin Issued Following Alaska Quake
Jun 23 2014 // A magnitude 8.0 earthquake triggered a tsunami warning for Alaska on Monday, according to a National Weather Service alert. The quake was located in the Rat Islands, which are part of the Aleutian Island chain. NWS said...
Louisiana Parish Sets Up Hurricane Re-Entry System for Businesses
Jun 23 2014 // Terrebonne Parish in Louisiana has a new emergency re-entry process for companies attempting to reopen after a mandatory hurricane evacuation. The Courier reported placards would replace company picture ID badges and would...
Minor Damage in Colorado From 4 Tornadoes
Jun 23 2014 // The National Weather Service has reported four tornadoes have been reported in northeast Colorado, but there has been no major damage. Three twisters were reported Saturday in Adams County and one in Weld County. The...
ACE Names Chen Underwriting Manager for Asia Property, Terrorism
Jun 23 2014 // ACE Group has appointed Cassie Chen as regional Property and Terrorism underwriting manager for Asia. She will be based in the Singapore regional office and will report to Jason Keen, head of Property for Asia. Chen joined...
Allstate Estimates $440M Catastrophe Losses for May
Jun 23 2014 // Allstate Corp. estimated that it had $440 million in pre-tax catastrophe losses for the month of May 2014 —or $286 million after taxes. The Northbrook, Ill.-based company said 11 events contributed to May losses, at an...
Massachusetts FAIR Plan Mulls Appeal of Commissioner’s Rate Decision
Jun 20 2014 // The Massachusetts Property Insurance Underwriting Association (“FAIR Plan”) said its board of directors will meet next week to decide whether to file an appeal to challenge Insurance Commissioner Joseph G....
JLT Capital Markets Announces Florida Cat Bond Placement
Jun 20 2014 // Jardine Lloyd Thompson Capital Markets (JLTCM) Inc., a part of JLT Towers Re, announced its second Market Re private placement cat bond (Market Re 2014 -2), which closed at $31.825 million. JLT said the “new bond...
