Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Massachusetts to Host Hurricane Preparedness Conference
May 7 2012 // Hundreds of emergency management and public safety officials from across Massachusetts are meeting this week for a hurricane preparedness conference. The all-day conference hosted by the state Emergency Management Agency...
Berkshire Hathaway Doubles Profit on Lower Catastrophe Losses
May 7 2012 // Berkshire Hathaway said it generated $3.245 billion in net income overall, up from last year’s net income of $1.511 billion last year in the quarter. Last year’s results were hurt by $1.1 billion in insurance...
Swiss Re in New $400 Million Nat Cat Bond for Europe, U.S. Wind Risks
May 7 2012 // Swiss Re Ltd. Announced that it has secured $400 million in natural catastrophe coverage through a newly-formed issuer Mythen Ltd., which it described as a “flexible program that allows Swiss Re to cede wind risks in...
Property Insurance Rates Continue to Firm: Marsh
May 7 2012 // Global property insurance rates continued to firm in the first quarter of 2012 and there are forces at play that will likely continue the trend, according to a recent report from insurance broker Marsh. Despite the absence...
Tornado Cost Wichita, Kansas Area $146.3M
May 7 2012 // Sedgwick County, Kansas, officials say the tornado that hit Oaklawn and southeast Wichita on April 14 caused an estimated $146.3 million in damage. County officials say the tornado damaged or destroyed 776 homes and 86...
AAMGA President Chaffin Stresses Need for Perpetuation; Cites Effect of Revised Catastrophe Model on E&S Business
May 7 2012 // Relationships are important to the success of any insurance business, but it’s perpetuation that matters most when it comes to survival. R.C. Chaffin, president and CEO of Coral Gables, Fla.-based SeaCoast...
One Week Brought Most of Alabama’s $3.2 Billion Losses
May 7 2012 // Almost $3 billion of the $3.2 billion Alabama insurers paid out to their auto, home and business policyholders in 2011 for catastrophe losses can be traced directly to the tornadoes, hail and thunderstorms that swept...
Oklahoma Seeks Assistance Following Deadly April Storms
May 7 2012 // Oklahoma’s request for federal assistance to individuals and businesses affected by an April 15 tornado that killed six in Woodward was denied but the governor is continuing with her quest for help from the U.S....
Solution for Disaster Recovery? House in a Box, Maybe
May 7 2012 // Designed to Be Catastrophe Resistant, Too In one of the New Orleans neighborhoods hit hardest by flooding in Hurricane Katrina’s aftermath, developers have built a prototype house that’s aimed at providing a...
Earthquake Hazard in Washington to Be Studied
May 7 2012 // The federal government is going to take another look at the potential earthquake hazard at Hanford in Washington. The seismic assessment will update the Department of Energy’s last comprehensive analysis in 1996. The...
Fewer Storms for 2012 Hurricane Season?
May 7 2012 // The 2012 Atlantic hurricane season is projected to be less active than in recent years with 11 tropical storms, six of which will intensify into hurricanes, according to Andover, Md.-based private forecaster Weather...
Meteorologist: Tornado Near Stockton, Calif., not Unusual
May 7 2012 // The National Weather Service says the tornado that struck five miles outside of Stockton, Calif., last month was not unusual for the time of year. The twister on farmland near Interstate 5 left a path of damage about a...
Burned Couple Settles Wildfire Suit For $6M
May 4 2012 // A badly burned Santa Barbara couple has settled their wildfire lawsuit against a property owner for $6 million. Lance and Carla Hoffman were overtaken by flames and nearly killed in the November 2008 Tea Fire, which was...
AIG Q1 Profit More Than Doubles to $3.21 Billion
May 4 2012 // American International Group Inc. reported $3.21 billion net income for its 2012 first quarter, a 147 percent increase from $1.30 billion net income posted during the same period one year ago. The insurer’s profit...
Aon Benfield’s April Global Cat Reports near $1 Billion in Tornado Losses
May 4 2012 // Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc, has released its latest edition of its Global Catastrophe Recap report, which reviews the natural disaster perils that occurred worldwide...
New Tool for Texas Wildfire Risk Assessment Now Available
May 4 2012 // Officials with Texas Forest Service and the Texas A&M University System announced that new tools are available to help homeowners and communities determine wildfire risk — and take measures to mitigate potential...
Florida’s Citizens Issues Largest Catastrophe Reinsurance Bond on Record
May 3 2012 // Florida’s Citizens Property Insurance Corp. has entered the catastrophic bond market in a big way by issuing $750 million in bonds, making it the largest insurance-linked security deal of its kind. Citizens Property...
Willis Capital Reports Strong Growth in Cat Bond Market; $1.3 Billion in Q1
May 2 2012 // The latest Insurance-Linked Securities (ILS) Market Update from Willis Capital Markets & Advisory (WCMA), part of global insurance broker Willis Group Holdings, notes a “record issuance in the catastrophe bond...
South Carolina Coast Bracing for Next Wildfire
May 2 2012 // Pat Henry will long remember that April night when the western horizon glowed an eerie red, smoking embers cascaded from the sky, and she and her husband escaped their home driving through their subdivision of flaming...
More Families Building Their Own Tornado Shelters
May 2 2012 // When deadly twisters chewed through the South and Midwest in 2011, thousands of people in the killers’ paths had nowhere to hide. Now many of those families are taking an unusual extra step to be ready next time:...
