Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Best Affirms Allstate Group and Subs ‘A+’ Ratings; Outlook Stable
Feb 3 2014 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of the members of Allstate Insurance Group (Allstate). Best also affirmed...
PERILS Estimates Windstorm Dirk Insured Losses at $371 Million
Feb 3 2014 // PERILS, the independent Zurich-based organization providing industry-wide catastrophe insurance data, announced that its initial insured property loss estimate for windstorm Dirk, which affected the UK and France from...
Mississippi Bills Seek More Insurance Company Cost Disclosure, Deductibles Regulation
Jan 31 2014 // Mississippi lawmakers could require insurers to disclose how much they collect in premiums and how much they pay in claims in each ZIP code under a bill advancing in the state legislature. House Bill 753 could spark more...
Chubb Reports 4Q Profit Surge a Year After Sandy
Jan 31 2014 // Chubb Corp., the insurer of corporate boards and high-end homes, said profit surged as margins improved a year after Superstorm Sandy. Fourth-quarter net income rose to $569 million, or $2.24 a share, from $102 million, or...
Prior Experience Heightens Perceptions of Disaster Risks
Jan 31 2014 // People who have experienced a disaster such as an earthquake, flood, or terrorist attack have a heightened perception of the risks posed by these and, in some cases, unrelated risks, according to a study involving 1,045...
Arkansas Receives More than $700K for Tornado Recovery
Jan 30 2014 // The U.S. Labor Department has given $702,741 to help Arkansas recover from tornadoes and severe storms that hit the state last May and June. The agency said the National Emergency Grant is being given to the Arkansas...
Florida Weighs 15-Day Hurricane Supply Tax Holiday
Jan 29 2014 // Floridians would get a 15-day sales tax holiday on hurricane preparedness supplies ranging from portable generators to radios this coming June under a proposal outlined Monday by Gov. Rick Scott. Scott, making the...
Near Record $7.1 Billion in Cat Bonds Issued in 2013: Willis Capital Markets
Jan 29 2014 // Last year saw a record number of 29 catastrophe bond deals, according to Willis Capital Markets & Advisory (WCMA), the capital markets division of Willis Group Holdings. “Total issuance over the year of $7.1...
Aon Releases Terrorism, Political Violence Map; Retail, Transport Most at Risk
Jan 29 2014 // Aon Risk Solutions, the global risk management business of Aon plc, has released its 2014 Terrorism and Political Violence Map to help organizations assess risk levels of terrorism and political violence across the globe....
Oasis Consortium of 21 Insurers, Brokers Launches Independent Cat Model
Jan 28 2014 // The Oasis Loss Modelling Framework has unveiled what it describes as “the most significant development in the modelling of natural catastrophe losses for 20 years”— the launch of an independent, global, open...
Oil Train Catastrophe Risk Weighs on Insurers: Kemp
Jan 28 2014 // In the event of a mass-casualty accident involving the derailment of a crude-carrying train in a densely populated urban area, who would be responsible for the compensation for deaths, injuries, damage to property and...
Worries Mount Over Winter Wildfire Season Not Soon to End
Jan 23 2014 // A winter wildfire season offers some unique challenges for firefighters like Mike Lopez. Lopez is president of CDF Firefighters, which represents the employees of California Department of Forestry and Fire Protection, or...
Aon Benfield Securities Completes Europe Windstorm Cat Bond Windmill I Re
Jan 23 2014 // Aon Benfield Securities, the investment banking division of global reinsurance intermediary and capital advisor Aon Benfield, announced the successful completion of the first European Windstorm indemnity catastrophe bond...
Reinsurance at Crossroads As New Factors Sweep Away Old Habits
Jan 23 2014 // Part I – The Market in the Developed Economies A significant number of reinsurance treaties were renewed this month, heavily concentrated in property catastrophe coverage. It’s become apparent, however, that this...
Allianz Re CEO Ahmed Sees No Rebound in 2014 Reinsurance Rates
Jan 22 2014 // Property and casualty reinsurance rates, which fell in seven of the last 10 years, probably won’t rebound in 2014, the head of Allianz SE’s reinsurance arm said. “Last year’s catastrophe activity...
Winter Storm Costs in Ohio Could Rival Hurricane Ike Totals
Jan 21 2014 // Experts say the early January’s extreme cold and wind are expected to be one of the costliest weather events in Ohio since the remnants of Hurricane Ike hit in 2008. No solid estimate is available yet, but the Dayton...
Travelers More Than Triples Profit in Q4 on Lower Disaster Losses, Higher Prices
Jan 21 2014 // Travelers Cos., the property/casualty insurer in the Dow Jones Industrial Average, said fourth-quarter profit more than tripled as claims costs from natural disasters fell a year after Superstorm Sandy. Net income rose to...
Magnitude 6.2 Quake Strikes New Zealand’s North Island: AIR Analysis
Jan 21 2014 // Catastrophe modeling firm AIR Worldwide, reported: “At 9:52 p.m. Eastern Time, on January 19 (3:52 p.m., local time, January 20), a magnitude 6.2 earthquake struck New Zealand’s North Island. The epicenter was...
Twenty Years Later Big Lesson From Northridge Quake Lost
Jan 17 2014 // Twenty years ago today a big one hit the Los Angeles area, killing several people and injuring thousands, damaging tens of thousands of properties, shutting down businesses, putting out of operation some of the...
PERILS Initial Loss Estimate for Windstorm Xaver is $925 Million
Jan 17 2014 // PERILS, the independent Zurich-based organization providing industry-wide catastrophe insurance data, announced that its initial loss estimate for windstorm Xaver, which affected Western and Northern Europe on 5 and 6...
