Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
UPDATE: Hurricane Rina Bearing Down on Yucatan Peninsula
Oct 26 2011 // The latest report from the national Hurricane Center in Miami at 10:00 A.M. CD warns that the Mexican government “has issued a hurricane warning for the northeast coast of the Yucatan Peninsula from Cancun to San...
AIR Estimates Turkey Insured Quake Losses at $56.5 to $170 Million
Oct 26 2011 // Catastrophe modeling firm AIR Worldwide estimates that insured losses from the magnitude 7.2 earthquake that struck eastern Turkey Sunday, October 23rd, near the city of Van, will be between 100 million TRY ($56.5 million)...
Accident Fund Will Cover Comp Claim for Joplin Tornado Survivor
Oct 25 2011 // Michigan-based Accident Fund Insurance Company of America now says it will honor the workers’ compensation claims for a man injured during the tornado outbreak in Joplin, Mo., earlier this year. Mark Lindquist, a...
Hurricane Rina Strengthens off of Yucatan Peninsula
Oct 25 2011 // According to the most recent bulletin from the National Hurricane Center in Miami, issued at 11:00 EDT, Hurricane Rina was located about 300 miles, 480 km, east southeast of Chetumal Mexico, and about 305 miles, 490 km,...
UPDATE: Turkey Quake Toll Mounts; Rescue Work Continues; AIR Analysis
Oct 25 2011 // As rescue workers continued their efforts to find survivors in the debris from collapsed buildings, the death toll from Monday’s earthquake continues to rise. Local officials have said that 279 bodies have been...
AIR Updates Terrorism Insurance Model for U.S.
Oct 24 2011 // Catastrophe risk modeling firm AIR Worldwide (AIR) has updated its terrorism model for the United States to reflect less frequent and lower-severity attacks based on a reassessment of the threat by a team of terrorism...
FEMA, SBA Extend Deadline for Hurricane Aid in New Jersey
Oct 23 2011 // New Jersey residents and businesses battered by Hurricane Irene will now have more time to seek federal aid to help cover their losses. The Federal Emergency Management Agency and the Small Business Administration...
Fitch Affirms California Earthquake Authority’s ‘A’ Ratings
Oct 21 2011 // Fitch Ratings has affirmed the “A” rating on California Earthquake Authority’s outstanding fixed-rate revenue bonds, which mature on July 1, 2016, citing the organization’s ability to cover losses...
Louisiana’s Sen. Landrieu Announces $33.9M for Hurricane Katrina Recovery
Oct 21 2011 // U.S. Sen. Mary L. Landrieu, D-La., has announced more than $33.9 million in grants from the U.S. Department of Homeland Security’s Federal Emergency Management Agency (FEMA) to repair New Orleans’ damaged water...
Chubb Profit Falls in Q3
Oct 21 2011 // The Chubb Corp. reported that net income in the third quarter of 2011 was $298 million compared to $572 million in the third quarter of 2010. Net income per share declined to $1.04 from $1.80. Operating income was $252...
ShakeOut in West May Raise Disaster Awareness
Oct 20 2011 // Today may be a good day to sell disaster insurance in the Western United States. A massive earthquake drill set for 10:20 a.m. PDT today is designed to raise awareness of the disasters that can be posed by a massive...
Florida Hurricane Fund Has $3.2 Billion Shortfall
Oct 20 2011 // Florida’s hurricane fund is confronting a potential $3.2 billion shortfall, financial experts said in a new estimate of the money available to the pool intended to help insurers make disaster payments. The fund was...
Weather Losses Trim Q3 Profit for Travelers
Oct 19 2011 // Travelers Companies reported a $333 million net profit after taxes for the third quarter, down from $1.05 billion in the third quarter last year. Hurricane Irene and weaker investment returns hurt results. Its pre-tax...
FEMA Warns N.Y. Residents to Avoid Scams in Wake of Tropical Storm Lee
Oct 17 2011 // New York residents are urged to be alert for potential fraud during recovery and rebuilding efforts following Tropical Storm Lee, officials with the New York State Office of Emergency Management (NYSEMO) and the Federal...
Bermuda Re/Insurers Announce Q3 Cat Loss Estimates
Oct 17 2011 // A number of Bermuda-based re/insurers have announced their respective loss estimates for the third quarter of 2011. The figures given include loss adjustment expenses, and are net of any applicable reinsurance recoveries,...
California Rep. Bill Would Lower Earthquake Insurance Costs
Oct 17 2011 // California’s U.S. Rep. John Campbell (R) recently introduced legislation similar to a bill introduced by U.S. Sen. Dianne Feinstein (D) earlier this year that would strengthen the nation’s natural disaster...
Report on Colorado’s Fourmile Fire: Insurance Losses Exceed $200 Million
Oct 14 2011 // A preliminary report on the 2010 Fourmile Canyon wildfire in Boulder County shows insured losses exceeded $200 million, fire management costs will have exceeded $14 million following rehabilitation efforts, and that while...
State Farm: Its Conn. Deductible Decision Grounded in Fairness
Oct 14 2011 // State Farm Insurance says U.S. Senator Richard Blumenthal’s request that the company drop Irene-related hurricane deductibles in Connecticut would actually be unfair to policyholders and introduce all sorts of...
Connecticut Regulators to Revise Hurricane Deductible Rules
Oct 14 2011 // Connecticut insurance regulators are working on revising hurricane deductible rules in the wake of tropical storm Irene. The insurance department spokesperson told Insurance Journal that the new rules under consideration...
AIR Estimates Insured Losses from Hurricane Jova at Less than $52 Million
Oct 14 2011 // Catastrophe modeling firm AIR Worldwide, estimates that insured losses caused by Hurricane Jova from flood-induced damage, as well as from some isolated wind damage along Mexico’s southern coastal areas, will be...
