Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Tsunami Watch Cancelled; AIR Worldwide Analyzes Quake Risk
Apr 12 2012 // Yesterday the world held its breath, as two strong earthquakes within hours of each other shook the Indian Ocean sea bed, not far from the epicenter of the quake in 2004, which generated a tsunami that took over a quarter...
Two Strong Quakes near Sumatra Trigger Tsunami Alert
Apr 11 2012 // Two strong earthquakes in the Indian Ocean, located off the west coast of the Indonesian island of Sumatra, have triggered tsunami warnings across the region. The US Geological Survey (USGS) reported the first quake at...
Platinum estimates $24.8 Million Q1 2012 Losses from Catastrophes
Apr 11 2012 // Bermuda-based Platinum Underwriters Holdings, Ltd. announced that it expects major catastrophe losses will have a net negative impact of approximately $24.8 million on the Company’s results for the quarter ended...
Best Lowers, Withdraws Omega Specialty Ratings; Affirms Lloyd’s Syndicate 958
Apr 11 2012 // A.M. Best Europe – Rating Services Ltd. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s Syndicate 958, which is managed...
Severe Weather Has Home Insurers Rethinking Coverages
Apr 10 2012 // As weather disasters strike with more frequency, U.S. homeowners first get hit with the destruction or total loss of property. Many are then hit with the unexpected loss of homeowners insurance policies as insurance...
Bond Passage to Fund More Storm Shelters in Joplin, Missouri
Apr 10 2012 // When Joplin, Mo., residents approved a $62 million bond issue recently, they agreed to fund more than just new schools. The bond issue and about $122 million from insurance, donations and state and federal aid will also...
Property Insurance Rates Continue to Firm: Marsh
Apr 10 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 report from insurance broker Marsh. Despite the absence of...
March’s Severe Weather Proved Deadly, Costly in U.S., Globally
Apr 6 2012 // March was a deadly and costly month in parts of the United States. A significant severe weather outbreak affected parts of the U.S. Midwest, the Tennessee Valley and the Southeast during the first week of March, killing at...
Swiss Re Structures $240 million Insurance-linked Securities for Allianz
Apr 6 2012 // Swiss Re Capital Markets announced that it has “structured and successfully placed $240 million of insurance-linked securities [cat bonds] issued by Blue Danube Ltd., on behalf of a subsidiary of Allianz SE. The...
Aon Benfield March Cat Recap: Severe U.S. Weather, Quakes & Floods
Apr 6 2012 // Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp, has released the latest edition of its Global Catastrophe Recap report, which reviews the natural disaster perils that occurred worldwide...
No Forecast Requests in 3 Days Before Colorado Wildfire
Apr 5 2012 // Colorado officials monitoring a prescribed burn apparently didn’t request updated weather forecasts for the area for three days before it erupted into a deadly wildfire. Records released Wednesday show the National...
Colorado Death After Emergency Wildfire Calls Questioned
Apr 5 2012 // Sam Lucas was among the first to call about a wildfire burning near his Colorado home. But the busy emergency dispatcher cut him off, saying it was a controlled burn and the forest service was on the scene. “We got...
Tornado-Wrecked Dallas-Area Begins Assessing Damage
Apr 5 2012 // The tornado hurtled toward the North Texas nursing home. Physical therapist Patti Gilroy said she saw the swirling mass barreling down through the back door, after she herded patients into the hallway in the order trained:...
Best Announces Rating Actions on NZ’s ‘Old’ & ‘New’ AMI Insurance
Apr 5 2012 // A.M. Best Co. announced rating actions on both New Zealand’s AMI Insurance Limited, or the old AMI, and AMI Insurance (Operations) Limited, or the new AMI, following a substantial restructuring of the company in the...
CEA and Red Cross Combine Forces to Raise Awareness
Apr 4 2012 // In what those involved say may bring about many more such pairings, the California Earthquake Authority and the American Red Cross have joined forces to try to boost preparedness and recovery when California’s next...
Calls Show Residents Panicked Over Colorado Wildfire
Apr 4 2012 // A man who was found dead in his burned home was among the confused and panicked residents who called Colorado authorities as a wildfire raged near them. Police tapes obtained by KMGH-TV show that Sam Lucas expressed...
Tornadoes Slam North Texas Causing Extensive Damage
Apr 4 2012 // A severe line of thunderstorms and isolated super cells moved into the Dallas-Fort Worth-Arlington metropolitan area in the early afternoon on April 3 producing numerous tornadoes and large hail that was responsible for...
PERILS Estimates Windstorm Andrea Property Losses at $407 Million
Apr 4 2012 // PERILS AG, the independent Zurich-based company providing industry-wide European catastrophe insurance data, has updated its loss report for windstorm Andrea, which struck Western Europe in early January. PERILS’...
160-Year Old Hanover Retaking Its Place as P/C Industry Leader
Apr 3 2012 // Eight out of 160 years of history may not seem like a big deal but for Hanover Insurance Group, founded in 1852, the last eight years have seen a series of big deals. Eight years ago in 2004, the $2.4 billion heavily...
Colorado Wildfire Victims Returning to Homes
Apr 3 2012 // The Lower North Fork wildfire in Jefferson County, Colo. is nearly 100 percent contained, and with all remaining evacuation and pre-evacuation orders lifted on Tuesday residents were returning to their homes. The fire,...
