Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Florida Keys’ Citizens Look to Lower Islands’ Risk Profile, Rates
Aug 23 2012 // Frustrated by rising premiums, reduced coverage and a single market, citizens and officials in the Florida Keys are hoping to convince catastrophe modelers, insurers and reinsurers that their islands are not as big a risk...
Fitch Notes Reinsurers More Risk-Focused For More Asian Catastrophes
Aug 23 2012 // Fitch Ratings has issued a statement which points out that the “spate of Asia-Pacific catastrophes in the past two years have prompted reinsurers to take stock of their existing portfolio and re-evaluate their...
Tropical Storm Isaac Strengthening; Floridians, Citrus Growers Begin to Worry
Aug 22 2012 // New York orange juice futures jumped more than 5 percent on Wednesday after U.S. forecasters warned Tropical Storm Isaac would strengthen into a hurricane and could hit the south coast of citrus-rich Florida by Monday. The...
TS Isaac Forms in Atlantic; Strengthening Expected; Could Hit Florida: NHC
Aug 22 2012 // For the past week the National Hurricane Center in Miami has been monitoring a low pressure system that formed off the Cape Verde Islands. Late yesterday it coalesced into a tropical storm, which has been given the name...
Best Upgrades NIPPONKOA’s Ratings to ‘A+’; Affirms Subs
Aug 22 2012 // A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A+’ (Superior) from ‘A’ (Excellent) and the issuer credit rating (ICR) to “aa-” from “a+” of Japan’s...
Texas Wind Pool: $800M Available for Claims Should Storm Hit Coast
Aug 21 2012 // Going into the peak time of the year for hurricane development, Texas’ property insurance company of last resort in coastal areas has around $800 million in available cash to immediately handle claims in the event a...
Texas Windstorm Pool: Fax Problems Due to Provider Connectivity
Aug 21 2012 // Agents who place insurance with Texas’ property insurer of last resort in coastal areas apparently have been having difficulty faxing policy changes to the company. The Texas Windstorm Insurance Association says the...
Lower Catastrophe Losses Boost P/C Insurers’ Earnings in Q2: Moody’s
Aug 21 2012 // U.S. property/casualty insurers reported significantly higher net income in the second quarter of 2012 relative to second-quarter 2011, driven by lower catastrophe losses and increased growth in earned premiums, says...
Historical U.S. Hurricanes: What If They Struck Today?
Aug 21 2012 // There have been 28 storms in U.S. history since 1900 which if they were happen today would each cause $10 billion or more in insured losses. Hurricane Andrew, which struck Florida 20 years ago this week, would be three...
20 Years Later: Insurance Changes Triggered by Hurricane Andrew
Aug 21 2012 // Hurricane Andrew struck Florida on August 24, 1992, and the tumult it created for the property insurance market in the state has not ceased in the 20 years since, according to the insurance industry. An Insurance...
Tropical Storm Helene Weakens as it Passes over Mexico’s East Coast
Aug 20 2012 // Tropical Storm Helene made landfall off the Gulf of Mexico on Saturday and weakened into a tropical depression as it plowed up Mexico’s east coast, the U.S. National Hurricane Center said. The depression was about 65...
UPDATE: Hurricane Gordon Passes Azores; Expected to Weaken
Aug 20 2012 // In a bulletin issued at 5:00 a.m. AST, The National Hurricane Center in Miami said Hurricane Gordon has passed “through the Eastern Azores Islands,” and is “expected to become a post-tropical cyclone...
Otter Declares Disaster Due to Idaho Wildfires
Aug 17 2012 // The size and scope of wildfires burning in southwestern and central Idaho has prompted Gov. C.L. “Butch” Otter to issue a disaster declaration. Otter made the announcement Wednesday to support firefighting...
Recovering from a Wildfire Catastrophe
Aug 17 2012 // Gary Sweeny still gets choked up when thinking of all of his family and friends who helped him recover from the Bastrop, Texas, wildfire that destroyed his home of 35 years. The retired school teacher and his wife who...
Wildfires: Sage Grouse Habitat Loss Could Impact Nevada Insureds
Aug 16 2012 // If you’re a business in Nevada, it may not be immediately clear why you should be concered with the state’s nearly dozen wildfires that are consuming almost 600,000 acres and destroying sage grouse habitat. But...
Price Tag For Fighting Utah Wildfires Up To $50M
Aug 16 2012 // State officials say it’s cost $50 million to fight wildfires in Utah this season, and that number is expected to keep climbing. Department of Natural Resources chief Michael Styler told lawmakers Tuesday that more...
Nearly 1,000 Earthquakes In Arizona From 2006-2009
Aug 16 2012 // Most people would think earthquakes are rare in Arizona. But a new study published by Arizona State University researchers found nearly 1,000 earthquakes rattling the state over a three-year period. A graduate student in...
Simulating Volcano Eruptions, One Blast at a Time
Aug 16 2012 // A voice carried across the treeless plateau: “Fire in the hole! The range is now active.” Two dozen people fell silent before a muffled blast sent a geyser-like shower of crushed gravel, limestone and asphalt...
New Storm Hits North Philippines; at Least 2 Dead
Aug 16 2012 // A second tropical storm in as many weeks battered the northern Philippines on Wednesday, killing at least two people, as forecasters warned that the still-reeling capital could see more flooding. Meanwhile, President...
Bastrop, Texas, Residents Putting the Past Behind After Wildfire
Aug 15 2012 // Gary Bonnette had traveled with his wife Cynthia and son Aaron to San Antonio to visit family members when he got a phone call saying his home was threatened by a huge wildfire. Neighbors say smoke was pouring over the...
