Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
A Year after Joplin Tornadoes, $2.16B in Insurance Claims Paid
May 18 2012 // The tornado that swept through Joplin, Mo., on May 22, 2011, has generated $2.16 billion in insurance claims payouts to Missouri policyholders, according to an Insurance Information Institute analysis of data from...
Forecasters Examine Hurricane Andrew’s Legacy
May 18 2012 // The ability to predict how bad a storm will be has eluded forecasters since Hurricane Andrew made a catastrophic landfall in South Florida two decades ago and it will remain a challenge for the next chief at the National...
Hurricane Andrew Remembered at Storm Conference
May 17 2012 // Florida’s emergency managers are preparing for the upcoming tropical storm season by reexamining the lessons learned from Hurricane Andrew. This August will mark the 20th anniversary of Andrew’s catastrophic...
PERILS Q1 Report on European Windstorms Shows ‘Very Active Season’
May 17 2012 // PERILS, the Swiss-based insurance data provider, reports that “in contrast to an unusually quiet European windstorm season in 2010/11, the 2011/12 season was very active.” PERILS said it had “investigated...
Tsunami May Have Sent Floats To Washington
May 16 2012 // More than two dozen floats – many with Asian writing and logos – found May 5 on Dungeness Spit during the first beach cleanup of the season. The floats are apparently part of the debris from the March 2011 Japanese...
Texas Windstorm Alternative Eligibility Program Deadline: Aug. 31
May 15 2012 // The Texas Department of Insurance is currently developing a process for obtaining an Alternative Certification for obtaining windstorm insurance in coastal areas. Under the Alternative Eligibility Program, residential...
Arizona Wildfires Grow, Evacuations Underway
May 14 2012 // Fire crews battled several wildfires in Arizona over the weekend, including a 4 1/2-square-mile blaze in the northern part of the state that prompted evacuations in a historic mining community. A fire about 4 miles north...
Claims Valued At $35M Filed Over Reno Wildfires
May 14 2012 // About 1,100 claims valued at $35 million have been filed as a result of two major wildfires around Reno in recent months, according to insurance carrier reports. The Nov. 18 Caughlin Ranch Fire burned nearly 1,900 acres...
Florida Hurricane Fund May Come Up Short If Big Storm Hits: Panel
May 14 2012 // Florida may not have enough money to pay off hurricane insurance claims if a big storm hits this year. An advisory panel last Thursday concluded that the state may fall nearly $2 billion short of the total needed to cover...
Major League Baseball to Help Tornado Victims
May 11 2012 // Major League Baseball and a charitable foundation run by players announced they are working with Habitat for Humanity to build nine homes for the tornado-ravaged communities of Joplin, Mo., and Tuscaloosa, Ala., with more...
Virginia Hurricane-Prep Sales Tax Break Starts May 25
May 10 2012 // Virginians who want to stock up on batteries, bottled water and other supplies for the hurricane season will get a tax break this month. Starting May 25 and continuing for seven days, a sales tax holiday will spare them...
Florida Approves Hurricane Shelter Plan
May 10 2012 // The construction of new public schools across Florida has contributed to a significant increase in the number of hurricane shelter spaces, according to a plan approved this week by Gov. Rick Scott and the Florida...
Colorado Wildfire Compensation Compromise Moving Along
May 9 2012 // A compromise proposal to allow Colorado wildfire victims to seek state compensation in excess of liability limits remains on track for approval in the Legislature. A Senate committee voted 5-0 Monday in favor of a bill to...
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...
