Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Catastrophe Costs Will Set Record: Munich Re
Jul 12 2011 // The total costs associated with natural catastrophes will reach a record this year after an earthquake in Japan pushed first-half losses to $265 billion, according to Munich Re. The world’s biggest reinsurer by...
U.S. Hurricane Season Could Be Market Tipping Point: Marsh
Jul 11 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of major natural catastrophes, insurers are being more selective in the capital they deploy and have in some cases withdrawn from catastrophe affected regions and loss-making sectors of...
Small Earthquake Felt in Eastern Maine
Jul 11 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...
Aon Benfield Cat Recap Highlights China Floods; Quakes, Wildfires
Jul 7 2011 // Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp., has released the latest edition of its Monthly Cat Recap report, which reviews the natural disaster perils that occurred worldwide during...
With Wildfires Contained, Arizona Shifts to Thwarting Summer Floods
Jul 7 2011 // The biggest forest fire in Arizona history is all but contained, and authorities are shifting their focus to preventing massive flood damage as summer storms begin to hit. The specialized firefighting management teams that...
Reinsurance Prices Flat Except in Catastrophe Regions: Aon
Jul 7 2011 // First quarter catastrophes didn’t halt decreases in most U.S. reinsurance renewal programs, except in regions hard hit by significant catastrophe events, according to a report by a leading reinsurance intermediary....
North Carolina Wildfire Spreads; Homeowners Evacuate
Jul 6 2011 // Ten homes have been evacuated and three destroyed by a wildfire in Bladen County that has nearly doubled in size over the past three days, fire officials said Tuesday. State Forest Service spokesman Chris Meggs said a...
Pres. Obama Signs Disaster Declaration for Texas Wildfires
Jul 5 2011 // President Barack Obama has signed a major disaster declaration for parts of Texas ravaged by wildfires in April and early May, ordering federal aid to help state and local recovery efforts. The White House had previously...
Insurers Could Pay $2B for Joplin Tornado
Jul 5 2011 // Insurance companies already have paid out more than $500 million in claims for the May 22 tornado that struck Joplin, Mo. But the final total could grow to three or four times that amount. The state insurance department...
Catastrophes Issue Wake-Up Call on Supply Chain Risks
Jul 4 2011 // The Japanese earthquake and tsunami that occurred in March served as a wake-up call for businesses vulnerable to supply chain exposures. Subsequent intense weather events in the U.S. during April and May have underscored...
Alabama Governor Vows Tornado, Home Insurance Help
Jul 4 2011 // Alabama Gov. Robert Bentley said he’s not looking to the Federal Emergency Management Agency or anyone else to lead the state’s recovery. “Just like I have taken the leadership role in the disaster,...
P/C Insurers’ Profits Fell in Q1 as Underwriting Losses Grew
Jul 4 2011 // Private U.S. property/casualty insurers’ net income after taxes dropped to $7.8 billion in first-quarter 2011 from $8.9 billion in first-quarter 2010, with insurers’ annualized rate of return on average...
Californians’ Biggest Disaster Fear: Earthquakes
Jul 4 2011 // Of the many possible natural disasters that could befall Californians, Golden State residents fear earthquakes the most, according to a recent poll. Statewide, 57 percent of voters cite earthquakes as their greatest threat...
Florida Officials Fret Over Home Insurance Assessments
Jul 4 2011 // Two weeks into a new hurricane season, Florida officials are continuing to express their concerns over possible policyholder assessments by Citizens Property Insurance despite the relative financial strength of the...
Massachusetts Tornado Claims Surpass $140 Million
Jul 4 2011 // The financial toll from tornadoes that ravaged several Massachusetts communities has risen dramatically. The state’s Division of Insurance estimated that residents have filed 8,200 insurance claims totaling $140...
Report: SoCal Quake Would Rattle Economy
Jul 4 2011 // A new study says a big Southern California earthquake would rattle the region’s economy and its buildings. The U.S. Bureau of Labor Statistics said a magnitude-7.8 quake in the southern segment of the San Andreas...
Totals: U.S. Spring Tornado Losses for P/C Carriers
Jul 1 2011 // Record-breaking tornadoes devastated parts of the United States in April and May, generating substantial losses for insurance companies. Following is a list of maximum losses reported by some insurers and reinsurers for...
Analysis: Reinsurers at Risk If Hurricane Season Is Big
Jul 1 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,...
Many South Texas Windstorm Inspections Turn Out to Be Bogus
Jun 30 2011 // Owners of more than 400 homes and businesses in South Texas will be notified that their windstorm insurance reviews were done by a bogus inspector. The Texas Windstorm Insurance Association says coverage for the Corpus...
TS Arlene Lashes Central Mexico with Heavy Rains
Jun 30 2011 // Large swathes of central Mexico were hit by torrential rains as Arlene, the first tropical storm of the Atlantic hurricane season, touched down near coastal sand barrier Cabo Rojo Thursday. Mexican officials advised...
