Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Fact or Fiction? Insurance Tidbits of Known and Little-Known Information
Dec 16 2011 // Have you ever wondered how modern-day fire departments began? Or why agents buy E&O coverage? What about when the first business owners policy launched? These are just a few questions that Insurance Journal and Claims...
Test Your Insurance News Knowledge
Dec 16 2011 // Are you an insurance news hound? Test your insurance news IQ and find out. The following questions and answers (see bottom of the page) were developed based on news stories published on InsuranceJournal.com and...
Preparedness Stressed on 200th Anniversary of the New Madrid Earthquakes
Dec 15 2011 // On the 200th anniversary of the first tremors of the New Madrid earthquakes, which were several of the most powerful quakes the United States has ever experienced, an insurance industry-backed group is reminding consumers...
FEMA: Texas Wildfire Survivors Should Consider Flood Insurance
Dec 15 2011 // Flood protection might be the last concern of Texas wildfire survivors these days. Yet Texans — even those who live in areas not rated at high risk of flooding — should consider purchasing a flood insurance policy now,...
Swiss Re Estimates 2011 Economic Cat Loss at $350 Bn; Insured Loss $108 Bn
Dec 15 2011 // Swiss Re describes 2011 as the “year with the highest catastrophe-related economic losses in history, at $350 billion.” It could have been the most costly year ever for the insurance industry, if Japan had been...
Willis Completes $200 million ‘Golden State Re’ Cat Bond for State Fund
Dec 12 2011 // Willis Capital Markets & Advisory (WCMA), part of Willis Group Holdings, announced it has structured and placed a $200 million catastrophe bond transaction for the California State Compensation Insurance Fund. The...
Connecticut Updates Underwriting Guidelines for Hurricane Deductible
Dec 12 2011 // Connecticut insurance department announced that it has updated its coastal underwriting guidelines to clarify when hurricane deductibles can be applied. The hurricane deductible issue has been in the spotlight in wake of...
Northern UK, Scotland Battered by Windstorm Friedhelm: AIR Analysis
Dec 12 2011 // According to catastrophe modeling firm AIR Worldwide, a red alert was issued for winds in Scotland and the Northern UK by the Met Office. As a result, AIR said “widespread structural damage” was likely; flood...
North Carolina Homes Rebuilt After Twisters
Dec 12 2011 // The relief organization Samaritan’s Purse last Friday turned over the keys of two homes rebuilt by volunteers eight months after they were destroyed by deadly tornadoes in Bertie County. Lucy “Pearl”...
Post-Irene Rebuilding Could Take Several More Months, N.Y. Group Says
Dec 9 2011 // This year’s hurricane season was an unusually costly and damaging one for New York State residents. And as the winter sets in, it will take several more months for people in areas ranging from Adirondack Mountains to...
Do Actuarial Models Influence P/C Underwriting Cycle?
Dec 9 2011 // Property/casualty insurance is noted for the sharp rise and fall of its rates – the underwriting cycle. As actuaries have developed more sophisticated statistical and computer models to help understand complex insurance...
Insured Losses from Bastrop, Texas, Wildfire Rise to $325M
Dec 8 2011 // More than half of the homeowner insurance claims have been settled in the Bastrop (Texas) Complex Wildfire that occurred over the Labor Day weekend. The final tally for insured losses from the wildfire is projected to hit...
Aon Benfield Report Analyzes Financial Impact of Catastrophes on Reinsurers
Dec 8 2011 // The Aon Benfield Analytics’ Market Analysis team has published the latest edition of its Aon Benfield Aggregate (ABA) report, which assesses the financial performance of 28 of the world’s leading reinsurers in...
Terrorism Risk Still a Concern in Insurer Ratings: S&P
Dec 7 2011 // Standard & Poor’s Ratings Services said it continues to view terrorism risk as a critical component in its assessment of an insurer’s financial strength, more than 10 years after the events of Sept. 11,...
Aon Benfield Monthly Cat Report: Thai, Europe Floods Costly for Insurers
Dec 7 2011 // Aon Benfield’s Monthly Cat Recap report, which reviews the natural disaster perils that occurred worldwide during November, concludes that insured losses in Thailand could top $10 billion, while floods in Europe will...
Abacus Selects Golden Bear to Back Earthquake Program
Dec 6 2011 // Golden Bear Insurance Company will be the carrier for an online residential earthquake deductible buyback program from Abacus Insurance Brokers, Inc. The admitted program, distributed through the Los Angeles-based program...
Contractor Scams Emerge Amid Utah Windstorm Damage
Dec 6 2011 // Utah state officials are warning of scams after getting reports of unlicensed contractors trying capitalize on damage from last week’s wind storm. Utah Department of Commerce Chief Francine Giani says the contractors...
Floridians Would Pay More to Shore-Up Cat Fund: Survey
Dec 6 2011 // A new survey finds that 70 percent of Floridians fear being assessed hundreds or thousands of dollars in “hurricane taxes” because the state’s Hurricane Catastrophe Fund may run out of money to pay...
U.S. P/C Insurers’ Catastrophe Losses Top $38 Billion
Dec 5 2011 // Catastrophe-related losses experienced by the U.S. property/casualty (P/C) industry through the first nine months of 2011 have nearly doubled total year-end 2010 losses, according to the latest estimates from A.M. Best...
2011 Hurricane Season Spared Usual Targets While Flooding Northeast
Dec 5 2011 // The 2011 Atlantic hurricane season was a study in contradictions: It spared the usual Southern targets, while Irene paralyzed the Eastern seaboard and devastated parts of the Northeast with deadly flooding. The season...
