Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Investors to Double Catastrophe Bonds by 2018: BNY Mellon
Nov 14 2013 // The amount of insurance-linked securities outstanding may reach $150 billion by the end of 2018 as institutional investors including pension funds search for yield, Bank of New York Mellon Corp. said in a report. Of the...
Much of Eastern Asia Underinsured for Weather As Risk, Values Rising
Nov 13 2013 // Insured losses from weather-related events in Eastern Asia amount to only about 10 percent of the $700 billion in total losses accumulated over the last three decades, according to an analysis by Munich Re. According to...
Indiana Students Develop Plans to Fight Nature’s Fury
Nov 13 2013 // Jerzie Eagle and Liesl Elkin pointed to their topography map that showed the eight acres of flood-prone land around Carter and Murden streets in Kokomo, Ind. This is where their arboretum will go once the city tears down...
Haiyan Worse for Philippines Than Sandy for U.S.; Only 10-15% of Loss Insured
Nov 12 2013 // Destruction from Typhoon Haiyan, which flattened buildings and unleashed storm surges that may have killed 10,000 people, could be several times worse for the Philippines economy than superstorm Sandy was for the...
UPDATE: AIR Worldwide on Typhoon Haiyan’s Catastrophic Destruction
Nov 11 2013 // According to catastrophe modeling firm AIR Worldwide, in the three days since Super Typhoon Haiyan roared through the central Philippines, the scale of the devastation revealed in its wake continues to...
Oklahoma City Hosts 3rd Annual National Tornado Summit
Nov 11 2013 // Insurance industry professionals, emergency managers, policymakers and weather experts are invited to attend the 3rd annual National Tornado Summit in Oklahoma City Feb. 10-11. The National Tornado Summit includes...
Record Typhoon Again Shows Philippines Most at Risk for Natural Hazards
Nov 10 2013 // Destruction from Super Typhoon Haiyan, the most powerful storm on record to strike the Philippines, shows the task facing President Benigno Aquino to curb the death toll in a country prone to natural disasters. The...
Philippine Typhoon Haiyan Deaths Could Reach 10,000; City, Villages Ravaged
Nov 10 2013 // One of the most powerful storms ever recorded killed at least 10,000 people in the central Philippines, a senior police official said on Sunday, with huge waves sweeping away coastal villages and devastating one of the...
Windstorm Christian Tops Impact Forecasting’s Monthly Cat Report
Nov 8 2013 // In its monthly Global Catastrophe Recap report Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, highlights the damage caused by Windstorm Christian as it moved across western and...
AIR Analyzes Potential Impact of Super Typhoon Haiyan on Philippines
Nov 8 2013 // Catastrophe modeling firm AIR Worldwide issued a bulletin shortly before Super Typhoon Haiyan [known locally as Yolanda] came ashore across the central Philippines. As predicted the extremely powerful storm – the...
Super Typhoon Haiyan Slams into Central Philippines; Millions Flee
Nov 8 2013 // The strongest typhoon in the world this year and possibly the most powerful ever to hit land, battered the central Philippines on Friday, forcing millions of people to flee to safer ground, cutting power lines and blowing...
Oklahoma Lawmaker to Re-File Earthquake Insurance Bill
Nov 8 2013 // Following a rash of earthquakes, a state lawmaker says he plans to file a bill to require insurance companies to notify Oklahomans whether their policies cover property damage caused by earthquakes. Rep. Mike Shelton of...
AIR Estimates Insured Losses from Europe Windstorm at $2-$3 Billion
Nov 7 2013 // Catastrophe modeling firm AIR Worldwide has estimated that insured losses from Windstorm Christian (known as St. Jude in the UK) will range between €1.5 billion €2.3 billion [$2 to $3 billion], with the majority of...
Munich Re Plans $1.35 Billion Buyback as Q3 Net Beats Estimates
Nov 7 2013 // Munich Re, the world’s biggest reinsurer, plans to buy back €1 billion ($1.352 billion) of its shares as third-quarter profit dropped 44 percent. Net income dropped to €637 million [$861.2 million] from €1.13...
RSA Tumbles as Windstorms Push Profitability below Target
Nov 6 2013 // RSA Insurance Group Plc tumbled after the U.K.’s biggest non-life insurer by market value said it will miss its profitability target in the wake of last week’s European windstorms. Wind damage in Europe and...
Insurers Keeping Property-Catastrophe Insurance Price Relatively Flat: NAPCO
Nov 5 2013 // With more than $600 billion in policyholders’ surplus, the insurance industry is very well capitalized in spite of a large loss from Hurricane Sandy last year. But even so, insurers have been keeping the price of...
Willis Unit Places $300 Million Cat Bond for Catlin
Nov 5 2013 // Willis Capital Markets & Advisory (WCMA), the capital markets and advisory business of Willis Group Holdings, the global risk advisor, insurance and reinsurance broker, announced that it has structured and placed a...
World Needs Insurance Industry to Be ‘Bold’ and ‘Sexy’ Now, PLUS Told
Nov 4 2013 // It’s time for the insurance industry to be “bold” and “sexy” in creating new insurance products and services to help the world deal with extreme risks that are becoming more common, according...
Noonan: Insurers Can Cover Terrorism Privately
Nov 4 2013 // A poll released last week by the Risk and Insurance Management Society — the trade association for risk managers of corporations, non-profits and local government agencies, who together are the major purchasers of...
Louisiana Citizens Insurance Settles Remaining 2005 Hurricane Claims
Nov 1 2013 // A state-run insurance company of last resort in Louisiana has settled the remaining claims in a class-action lawsuit tied to how it handled claims after Hurricanes Katrina and Rita in 2005. The New Orleans Advocate reports...
