Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
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...
New Billing, Commission System at Texas Windstorm Pool Starts Jan. 1
Oct 13 2011 // The Texas Windstorm Insurance Association (TWIA) will be implementing a new billing and commission system beginning Jan. 1, 2012. In a bulletin to insurance agents, TWIA said under the new system it will assume the...
Sen. Blumenthal Asks State Farm to Drop Hurricane Deductible for Irene
Oct 13 2011 // U.S. Senator Richard Blumenthal (D-Conn.) called on State Farm Insurance to drop its hurricane deductible for Connecticut residences whose homes were damaged by Tropical Storm Irene. Blumenthal was joined at his Hartford...
Endurance Appoints Lamer to Head U.S. Property Cat Treaty Reinsurance
Oct 13 2011 // Bermuda-based Endurance Specialty Holdings Ltd announced that Rene Lamer will assume the role of Senior Vice President and Head of U.S. Property Catastrophe Treaty Reinsurance. He is a Bermuda citizen, and will continue to...
AIR Analyzes Jova Damages
Oct 13 2011 // According to catastrophe modeling firm AIR Worldwide’s Dr. Tim Doggett, even though hurricane Jova has weakened to a tropical depression, it’s still capable of causing further damage. “Jova’s slow...
UPDATE: Hurricane Jova Hits Mexican Port; Kills Four; Mudslides in Central America
Oct 13 2011 // Hurricane Jova flooded the streets of Mexico’s main Pacific port with torrential rain Wednesday, inundating popular beach resorts and killing at least four people in mudslides. While Jova ravaged the coast, a...
Mississippi High Court Due to Rule in Wind-Water Insurance Case
Oct 12 2011 // A decision is pending from the Mississippi Supreme Court in another wind vs. water case, this one involving a Pascagoula home subjected to 6.3 feet of storm surge. The National Flood Insurance Program paid Jackson County...
UPDATE: Hurricane Jova Crosses Mexico’s Pacific Coast
Oct 12 2011 // Hurricane Jova made landfall as a Category Two storm on Mexico’s Pacific coast late Tuesday, threatening one of the country’s busiest cargo ports and tourist resorts with high waves, heavy rain and...
FEMA Denies Virginia Earthquake Disaster Aid
Oct 11 2011 // The Federal Emergency Management Agency has denied Virginia’s request for aid for individuals whose property was damaged by the Aug. 23 earthquake. Gov. Bob McDonnell announced the agency’s decision last...
Tornado Damages Homes, Post Office in San Antonio
Oct 11 2011 // A small tornado touched down in San Antonio early on Oct. 9, damaging several homes and a post office. The overnight storm dumped more than 3 inches of rain on the city and left thousands without power, the San Antonio...
Category 3 Hurricane Jova Targets Mexico’s Pacific Coast
Oct 11 2011 // Hurricane Jova bore down on the Pacific coast of Mexico Tuesday threatening to pound one of the country’s busiest cargo ports and tourist resorts with destructive waves, heavy rainfall and flooding. The Category 3...
California ShakeOut Registers 8 Million-plus
Oct 7 2011 // The Great California ShakeOut earthquake drill has amassed over over 8 million participants, according to its organizers. The event, set for Oct. 20 at 10:20 a.m., has surpassed the 2010 record of 7.9 million registrants,...
California Rep Introduces Earthquake Insurance Affordability Act in House
Oct 7 2011 // California’s U.S. Rep. John Campbell (R-48), who today introduced H.R.3125 – companion legislation to S.637 introduced by U.S. Sen. Dianne Feinstein earlier this year. Both bills would strengthen the...
