Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
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,...
Alabama Scientists to Study Tornado Outbreak, Warnings
Jul 14 2011 // Scientists at The University of Alabama in Huntsville are organizing a research program to better understand the deadly outbreak of tornadoes that killed more than 240 people in Alabama and other Southeastern states on...
Hartford Hit with Q2 Catastrophe, Asbestos Losses
Jul 14 2011 // Hartford Financial Services Group Wednesday warned it will badly miss second-quarter expectations after severe losses on natural disasters and a charge to increase its asbestos reserves. Hartford, one of three insurers to...
Allstate Q2 Catastrophe Losses Now at $2.3 Billion
Jul 13 2011 // The Allstate Corp. announced $0.3 billion, pre-tax, in estimated catastrophe losses for the month of June 2011. June catastrophe losses comprised 13 events. Allstate previously announced $2.0 billion in estimated pre-tax...
State Auto Financial Updates Estimate of Q2 Storm Impact
Jul 13 2011 // In an updated estimate of the impact of second quarter 2011 catastrophe storm activity, State Auto Financial Corp. said second quarter 2011 results will include between $155 million and $165 million in pre-tax catastrophe...
Q1 Losses, Solvency II Drive Research on “Non-modeled” Perils Says Aon Benfield
Jul 12 2011 // Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp., has reported that “catastrophic losses in the first quarter and Solvency II are driving the need for insurers to boost their...
S&P Downgrades 6 Cat Bonds; Removes 10 from Negative CreditWatch
Jul 12 2011 // Standard & Poor’s Ratings Services today has removed its ratings on 10 natural peril catastrophe bonds from CreditWatch with negative implications. S&P also said it has lowered its “ratings on six of...
