Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Property Market Stayed Stable in Q1; Sandy Effect on Rates Muted: Marsh
May 22 2013 // The property insurance market remained relatively stable and competitive in the first quarter of 2013, with few changes to limits purchased and deductibles, according to a benchmarking report from broker Marsh. Superstorm...
Willis ILS Report: Q1 2013 Sees $1.6 Billion in New Cat Bond Issuance
May 22 2013 // The first quarter of 2013 saw $1.6 billion of new issuance in non-life capacity marketed through five catastrophe bond transactions, including three transactions marketed in the first quarter and closed at the beginning of...
Oklahoma Tornado Damage Likely to Exceed Joplin – Commissioner
May 21 2013 // The damage from Monday’s tornado in a suburb of Oklahoma City is likely to exceed that caused by the 2011 twister in Joplin, Missouri, that killed 161 people, Oklahoma Insurance Commissioner John Doak said. In an...
Update: Oklahoma Tornado Was EF5
May 21 2013 // A new assessment by the National Weather Service indicates peak winds in the tornado that hit the Newcastle/Moore Okla., area on May 20 reached the 200 mph to 210 mph range, putting it into the classification of an EF5...
Storms Generate Iowa Tornado Damage, No Injuries
May 21 2013 // A storm system carrying high wind, hail and Iowa’s first tornadoes in nearly a year moved through the state Sunday, damaging some homes and knocking out power to thousands. No one was injured. Iowa had gone 358...
‘Major Disaster’ Declared in Wake of Deadly Oklahoma Tornadoes
May 21 2013 // An estimated EF4 tornado with a wind range of up to 200 mph roared through the Oklahoma City suburb of Moore, Okla., on May 20, leaving behind massive devastation and at least 24 confirmed dead. Earlier media reports...
Tornadoes Prompt State of Emergency Declaration in Oklahoma
May 20 2013 // Oklahoma Gov. Mary Fallin has declared a state of emergency after tornadoes, severe storms, straight-line winds and flooding wrought devastation throughout her state on May 18 and 19. Beginning on Saturday, numerous...
Karen Clark’s New Program Creates Realistic Hurricane Tracks, Loss Estimates
May 20 2013 // Just in time for the 2013 hurricane season, Karen Clark & Co. (KCC), a catastrophe risk and modeling firm, has released a scientific tool for creating hurricane tracks and wind speeds. Named WindfieldBuilder, the tool...
Golf and Country Clubs Weather the Storm
May 20 2013 // Snow in October, hurricanes in the Northeast and record-setting “derechos” in the Ohio Valley and Mid-Atlantic regions are a sampling of the unusual weather that is changing the way insurance carriers evaluate...
Medical Malpractice Payouts Not Driving Up Health Costs: Study
May 20 2013 // Efforts to lower health care costs in the United States have focused at times on demands to reform the medical malpractice system, with some researchers asserting that large, headline-grabbing and “frivolous”...
TRIA Debate Heats Up with Charge ‘Nervous Nelly’ P/C Insurers Enjoy $7B ‘Subsidy’
May 20 2013 // A consumer advocacy group says the property/casualty insurance industry has been getting a sweet deal worth about $7 billion as a result of the federal government’s program to help pay terrorism insurance claims...
May 16 Storm Produced 4 Tornadoes in Louisiana
May 19 2013 // A powerful thunderstorm in the afternoon on May 16 produced four tornadoes as it moved into Louisiana from Texas The National Weather Service, in a survey released Saturday, says all tornadoes had winds of 90 mph to 100...
NWS: At Least 16 Tornadoes in Recent North Texas Outbreak
May 17 2013 // At least 16 tornadoes have been confirmed in the outbreak in North Texas on May 15, federal weather officials say. Survey teams were sent to Johnson County, Hood County, Parker County, Ellis County and Montague County, the...
Florida Catastrophe Fund Financially Stronger on Eve of Hurricane Season
May 17 2013 // Florida is heading into a new storm season with some good news for once. The state-created fund that backs up private insurers in Florida is in the best financial shape it has been in years — maybe the best since it was...
UN: $2.5 Trillion in Global Disaster Losses Since 2000
May 17 2013 // Economic losses from disasters since 2000 are in the range of $2.5 trillion, a figure at least 50 percent higher than previous international estimates, according to a U.N. report. The U.N. Office for Disaster Risk...
NOAA Report Says Feds’ Warnings About Sandy Were Confusing
May 17 2013 // Federal weather forecasts for Superstorm Sandy were exceptionally accurate last fall, but the warnings themselves were confusing, an internal review found. The gigantic October storm lost tropical characteristics hours...
Tornadoes Spin Through Texas Towns After Dark, Killing Six
May 16 2013 // At least six people were killed and 100 injured when tornadoes ripped through north-central Texas after dark and authorities said the death toll could rise as rescuers search through the rubble of destroyed homes. At least...
Terrorism & Political Violence Map: Aon Risk Solutions
May 15 2013 // The continued threat of a terrorist attack or political violence worldwide persists and is not going away anytime soon. Despite 19 countries showing improved terrorism and political violence ratings, according to...
Wildfires Break Out Near Possum Kingdom Lake in Texas
May 15 2013 // Wildfires have led to evacuation of about 30 residences in a North Texas community where 2011 blazes destroyed dozens of homes amid the drought. The Texas A&M Forest Service reported grass fires that burned about 100...
Mississippi High School Suffered $7M in Tornado Damage
May 15 2013 // Lamar County (Mississippi) School District officials said a Feb. 10 tornado caused $7 million in damage to Oak Grove High and its baseball and football facilities. The Hattiesburg-American reported that the district has a...
