Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Up Next: California’s Wildfire Season
Jul 19 2012 // With Colorado’s and New Mexico’s record wildfire seasons freshly in mind, some experts are starting to take note that California’s wildfire season is nearing, and with that there are two main points to be...
Allstate Reports Catastrophe Losses for Q2 of $820 Million
Jul 19 2012 // The nation’s largest publicly-held personal lines insurer, Allstate Corp., announced estimated catastrophe losses of $820 million, pre-tax, for the second quarter 2012, which includes $440 million for June. Last...
China Reinsurance Company Licenses AIR’s Suite of Cat Models
Jul 18 2012 // Catastrophe risk modeling firm AIR Worldwide announced that China Property & Casualty Reinsurance Company Ltd. (CPCR) has licensed its typhoon, earthquake, and multiple-peril crop insurance models for China to better...
Report: Insured Losses in Colorado Wildfires Nearly $450 Million
Jul 17 2012 // The two most destructive wildfires in Colorado’s history will cost insurers roughly $450 million, a regional insurance association said on Tuesday. The massive figure for insured losses comes from the total 600 homes...
The Hartford Expects Q2 Catastrophe Losses Near $300 Million
Jul 17 2012 // The Hartford said that it expects to report current accident year catastrophe losses of $280 million to $300 million before tax in the second quarter of 2012, as compared to $447 million before tax in the second quarter of...
Yes, Of Course We Do Need a National Catastrophe Solution
Jul 16 2012 // The National Conference of Insurance Legislators has a tendency to be a very deliberative and, yes, dilatory, body. During the meeting of its Property and Casualty Insurance Committee last Friday in Burlington, Vermont...
Chartis Enhances, Expands Private Client Group’s Wildfire Protection Unit
Jul 16 2012 // Chartis has enhanced its Private Client Group division’s Wildfire Protection Unit, including geographic expansion and improved monitoring technologies. The Unit now is available to clients in the Texas cities of...
Number of April Tornadoes Set Record in Oklahoma
Jul 16 2012 // Timing rather than a trend seems to be the key as to why Oklahoma has broken the state record for tornadoes in the month of April the past two years, according to weather officials. In April 2011, there were 50 confirmed...
6 Month Insured Losses at $12 Billion; Nat Cats Less Costly: Munich Re
Jul 13 2012 // Natural catastrophe losses were “relatively moderate” in the first six months of 2012, concludes Munich Re’s assessment for the first six months of the year. Overall global losses up to the end of June...
ACE Expands Catastrophe Management Services for Environmental Risks
Jul 13 2012 // ACE USA, the U.S.-based retail operations of the ACE Group, has expanded its environmental risk insurance products to add catastrophe management coverage. In addition to coverage for standard remediation services included...
Tropical Storm Creates New Beach on Alabama Coast
Jul 11 2012 // Within the span of a week, the Gulf built a beach in front of most of the rock wall used to close Katrina Cut. The wall was constructed in 2010 using money provided by BP during the oil spill. The goal was to close a...
Chubb Expects Up to $240 Million in Q2 Catastrophe Losses
Jul 11 2012 // The Chubb Corp. expects to report $200 million to $240 million in catastrophe losses for the second quarter, before taxes, due to severe hail and wind storms in the U.S., the insurer said on Tuesday. The charges amount to...
Colo. Fire Victims May Qualify for Immediate Flood Policies
Jul 10 2012 // The Federal Emergency Management Agency on Tuesday announced that residents in Colorado affected by flooding as a result of the wildfire in Waldo Canyon and the wildfire in High Park could be eligible for an exception from...
Guy Carp’s July 1 Renewals Report: ‘Plentiful Capacity;” Low Insured Losses
Jul 10 2012 // According to a report from Guy Carpenter the July first reinsurance renewals “took place against a backdrop of plentiful capacity,” as capital “has continued to strengthen through the second quarter of...
June’s Severe Weather Losses Near $2 Billion in U.S.: Aon Benfield
Jul 10 2012 // U.S. severe weather insurance losses were close to $2 billion in June, according to Aon Benfield’s Global Catastrophe Report. Published by Aon’s Impact Forecasting, the report analyzes the natural disaster...
PCS Sees Busy Cat Bond Market in 2012 Thus Far
Jul 9 2012 // With two quarters completed in 2012, the catastrophe bond market remains robust. Insurers and reinsurers issued approximately $3.6 billion in catastrophe bonds during the first half of 2012, up from $2.2 billion in the...
Guy Carpenter Report Focuses on Asia-Pacific 2011 ‘Climate Issues’
Jul 9 2012 // The Guy Carpenter Asia-Pacific Climate Impact Centre (GCACIC), a joint initiative of Guy Carpenter and City University of Hong Kong, has released its third annual report, which presents the findings of the 27 research...
Taking Account of Colorado’s Wildfires
Jul 6 2012 // As adjusters and homeowners have increasing access to fire damaged areas at the Waldo Canyon Fire in Colorado just how large a figure will result from what are likely to go down as the state’s two most destructive...
Gregoire Releases $500,000 For Tsunami Debris
Jul 6 2012 // Gov. Chris Gregoire is releasing $500,000 from her emergency fund to address costs associated with potential debris washing up on the state’s beaches from the Japanese tsunami. Gregoire said Tuesday that the money...
Paper: $110M Worth Of Homes Lost In Colorado Wildfire
Jul 5 2012 // A newspaper’s analysis indicates that Colorado’s most destructive wildfire burned homes worth a total of more than $110 million in one of the neighborhoods affected by the blaze. The Denver Post reports the...
