Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Crews Gaining Ground on Blackfeet Reservation Wildfires in Montana
Jan 6 2012 // A pair of wildfires fueled by strong wind gusts that burned buildings and forced the evacuation of hundreds on Montana’s Blackfeet Indian Reservation were helped by milder weather conditions on Thursday as...
Insurance Veterans’ Forecasts for 2012
Jan 5 2012 // Now that the year 2011 is behind us, let’s take a look at what might be ahead. Insurance Journal spoke with leading industry professionals and asked them what they are expecting this year. If their forecasts are any...
Windstorm Ulli is Latest to Batter Northwest Europe; AIR Analysis
Jan 5 2012 // Catastrophe modeling firm AIR Worldwide’s report on Windstorm Ulli notes that it is “passing through Scandinavia and is expected to dissipate as it moves over the Baltic Sea today. “A class 2 weather...
Earthquakes Prompt Record Insurance Claims in 2011
Jan 4 2012 // Insurance industry damage claims from natural disasters like the earthquakes in Japan and New Zealand reached a record $105 billion in 2011, Munich Re , the world’s biggest reinsurer, said on Wednesday. The cost to...
Kansas County Looking into Earthquake Insurance
Jan 3 2012 // Shawnee County, Kan., commissioners have authorized the county’s insurance broker to look into the cost of earthquake insurance. The topic came up at a recent commission briefing on new quotes for property,...
Magnitude 7.0 Earthquake Strikes off Japan Coast
Jan 3 2012 // A strong earthquake with a preliminary magnitude of 7.0 struck under the sea several hundred miles (kilometers) south of Japan on Sunday, shaking buildings in the capital, but officials said there was no danger of a...
Alabama Insurance Claims for Tornadoes Top $2 Billion
Jan 3 2012 // Insurers have paid at least $2.2 billion claims arising from the April tornado outbreak in Alabama, authorities said. More than 2,500 claims are still pending eight months after the storms, The Birmingham News...
Injection Wells Shut Down After 4.0 Earthquake in Ohio
Jan 3 2012 // Officials said they believe the latest earthquake activity in northeast Ohio is related to the injection of wastewater into the ground near a fault line, creating enough pressure to cause seismic activity. The brine...
Tornado Causes $1.8M Damage to Georgia Businesses
Jan 2 2012 // A week after a tornado struck northwest Georgia, an examination of damage has resulted in losses estimated at $1.82 million in the Rome area. Floyd County Emergency Management Agency Director Scotty Hancock said two-thirds...
Alaskan Volcano Put on Alert
Dec 30 2011 // An explosion at a volcano in Alaska caused the U.S. Geological Survey to put out an alert. USGS detected a drifting ash cloud at the Cleveland Volcano, which is on an uninhabited island in the east central Aleutian...
Willis Re Reports Jan. 1 Renewals Focus on Nat Cat Data
Dec 30 2011 // An analysis from Willis Re, the reinsurance broking arm of Willis Group Holdings, notes that the majority of this year’s catastrophe losses arose “from un-modeled or inadequately modeled perils or...
Guy Carpenter Analyzes 2011 Catastrophes; $108 Billion in Losses
Dec 30 2011 // Reinsurance broker Guy Carpenter has examined the past year’s natural catastrophes, which it describes as “an unusually eventful year for the (re)insurance sector.” In addition to the ongoing financial...
Despite Losses, Insurers Not Hiking Prices Broadly
Dec 29 2011 // Despite more than $100 billion in disaster losses around the world this year, insurers are not yet experiencing a broad and sustained increase in pricing power, defying predictions from a year ago that even half those...
Melbourne Storms Declared ‘Catastrophe;’ Full Year Insured Losses = $4.5 Billion
Dec 29 2011 // A series of violent storms struck Australia’s second largest city, Melbourne on Christmas Day, causing wide spread damage to buildings and infrastructure. Insurer QBE said the country’s insurers have already...
Scandinavia Hit Hard by Windstorm Dagmar AIR Reports
Dec 28 2011 // A report from catastrophe modeling firm AIR Worldwide notes that Windstorm Dagmar has moved across Russia north of St. Petersburg and begun to dissipate. Its hurricane-force winds caused power outages, downed trees,...
Insurers Worry 2012 Will Top 2011 for Record Weather Disasters
Dec 28 2011 // From floods that crippled countries, to mega cyclones, huge blizzards, killer tornadoes to famine-inducing droughts, 2011 has been another record-breaker for bad weather. While it is too early to predict what 2012 will be...
Catastrophes Erode P/C Insurers’ Results for 9 Months of 2011
Dec 27 2011 // Private U.S. property/casualty insurers’ net losses on underwriting grew to $34.9 billion in nine-months 2011 from $6.3 billion in nine-months 2010. The combined ratio deteriorated to 109.9 percent for nine-months...
New Orleans Hurricane Wall Creates Prime Fishing Spot
Dec 27 2011 // Anglers in the wetlands surrounding New Orleans never have to look very far to be reminded they are living the ultimate paradox: They are enjoying the nation’s most prolific coastal fishing in the midst of a terminal...
Uncommon December Tornado Hits Louisiana Hospital
Dec 22 2011 // An uncommon December tornado ripped off part of a hospital roof in a southwest Louisiana city, causing several patients to be evacuated, but no injuries. The National Weather Service said the weak tornado touched down at...
Report: Recent Advances in Casualty Catastrophe Models Help Insurers
Dec 21 2011 // A new report says recent advances in casualty catastrophe modeling can help insurers to understand potential exposures to mass torts. The report, released this month, is titled “The Need for Casualty Catastrophe...
