Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Aon Benfield Guide: All You Need to Know on Volcanoes, Landslides, Tsunamis
Jul 26 2011 // The Aon Benfield UCL Hazard Centre has launched an introductory guide -“Getting to Grips with Non-Modelled Perils” – on volcanoes, landslides and tsunamis, which highlights the important characteristics...
AIR Expands Atlantic Basin Tropical Cyclone Models to Central America
Jul 25 2011 // Catastrophe risk modeling firm AIR Worldwide announced the release of its Central America tropical cyclone model. “The new model covers Belize, Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and...
Huge Bomb Blast Hits Oslo; Terrorists Suspected
Jul 22 2011 // A powerful explosion caused extensive damage to government buildings in the Norwegian capital Oslo. At least two people have reportedly been killed by the blast and 15 have been injured. Rescue teams, hampered by fires,...
Catastrophes Take Toll on EMC Insurance Group’s Q2 Results
Jul 22 2011 // EMC Insurance Group Inc., based in Des Moines, Iowa, announced that second quarter 2011 operating results will be negatively impacted by a record amount of catastrophe losses. It expects to report a second quarter 2011...
Moody’s Affirms California Earthquake Authority Bonds
Jul 22 2011 // Moody’s Investors Service has affirmed the A3 rating on the California Earthquake Authority’s (“CEA”) 6.169% fixed rate Series 2006-B revenue bonds (mature July 20, 2016) and changed the rating...
Texas Gov. Signs Windstorm Bill, Measure Affecting Surplus Lines
Jul 21 2011 // Legislative measures passed during the special session of the 82nd Legislature that impact the insurance industry in Texas have been signed by the governor. On July 19, Gov. Rick Perry signed Senate Bill 1 and Senate Bill...
Travelers Posts Q2 Loss with $1 Billion in Tornado Costs
Jul 21 2011 // Travelers Cos. Inc. reported a second-quarter loss, missing analysts’ estimates by a huge margin as the property insurer suffered more than $1 billion in catastrophe losses from record-breaking tornadoes in April and...
Tropical Storm Ma-On Makes Landfall, Heavy Rains in Southern Japan
Jul 20 2011 // According to catastrophe modeling firm AIR Worldwide, Tropical Storm Ma-On made landfall in southern Tokushima Prefecture on Shikoku Island late Tuesday night local time. Dr. Peter Sousounis, principal scientist at AIR...
Hailstorms Result in 50,000 Claim Filings in Colorado, Wyoming
Jul 20 2011 // Mother Nature wrecked havoc along the Front Range and southeastern Wyoming last week — again living up to the region’s weather reputation as “hail alley.” The Rocky Mountain Insurance Information...
Indonesia’s Mount Lokon Volcano Erupts Twice
Jul 19 2011 // An Indonesian volcano spewed hot gases and ash in two eruptions on Monday that show high and unpredictable activity from the volatile mountain, experts said. The second blast at Mount Lokon was the larger of the two...
7,500 Earthquakes Shake Resolve in Christchurch, New Zealand
Jul 19 2011 // It’s been 10 months since the first big earthquake struck New Zealand’s second-largest city. It’s been nearly five months since a far more devastating one killed 181 people and crippled the downtown. And...
What the Waffle House Can Teach About Managing Supply Chain Risk
Jul 19 2011 // What can Waffle House teach about disaster preparedness and risk management, especially in the wake of this spring’s devastating tornadoes? Plenty, says a supply chain expert at Olin Business School, Washington...
Typhoon Ma-On Nears Japan
Jul 18 2011 // According to catastrophe modeling firm AIR Worldwide, Category 2 Typhoon Ma-On (local name Ineng) is currently about 885 kilometers (550 miles) southwest of Tokyo. The storm packs winds with gusts up to 157 km/h (98 mph)....
NHC Tracking Tropical Storm Bret
Jul 18 2011 // The National Hurricane Center in Miami is currently tracking Bret, the second named tropical storm of the season. Unless it changes course, which is highly unlikely, Bret poses no threat to the U.S. mainland, as it is...
Analysis: Reinsurers at Risk If Hurricane Season Is Big
Jul 18 2011 // A major hurricane landfall in Florida could strain leading global reinsurers that have already been buffeted by brutal tornadoes in the United States and earthquakes in Japan and New Zealand. The biggest reinsurers,...
Small Earthquake Felt in Eastern Maine
Jul 18 2011 // A small earthquake across Maine’s Blue Hill peninsula prompted a handful of calls to law enforcement officials, but no damages were reported. According to the Weston Observatory at Boston College, the magnitude 2.3...
Hurricanes Could Alter Insurance Markets
Jul 18 2011 // Reacting to the recent spate of major natural catastrophes, insurers are being more selective in the capital they deploy and have in some cases withdrawn from catastrophe affected regions and loss-making sectors of...
AXIS Puts Q2 Cat Losses at $90-$105 Million; Updates Q1 Estimates
Jul 15 2011 // Bermuda-based AXIS Capital Holdings Limited has estimated that the total net financial impact of the June 2011 aftershock in New Zealand and the series of severe weather events that occurred in the U.S. in April and May...
Best Affirms Lloyd’s of London’s ‘A’ Ratings
Jul 14 2011 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s of London and Lloyd’s...
Willis’ ILS Report Sees Increased Investor Interest in Cat Bonds
Jul 14 2011 // A new report from Willis ILS – Investors Eager for Cat Bonds Following Light Second Quarter Issuance – concludes that, despite, or perhaps due to the catastrophes experienced during the first quarter of 2011,...
