Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
EQECAT Updates Japan Quake/Tsunami Analysis; Insured Losses $12-$25 Billion
Mar 17 2011 // Insured losses from the magnitude 9.0 earthquake and tsunami that struck Japan last Friday are between $12 billion and $25 billion, according to catastrophe modeler EQECAT. In its latest update, the firm describes the...
RenRe Estimates Australia Flood Losses $30 Mn; NZ Quake $190 Mn
Mar 17 2011 // Bermuda-based RenaissanceRe Holdings Ltd. announced its initial loss estimates for the 2011 Australian flooding as well as the February 2011 New Zealand earthquake. The Company said it currently expects the Australian...
U.S. Western Tsunami Losses Climb
Mar 16 2011 // As states in the West clean up tsunami damage, loss estimates are climbing, according to local officials. In Hawaii, the estimate — tallied by Gov. Neil Abercrombie’s office to be in the millions — combines...
Arkansas Earthquakes Decline After Injection Well Closures
Mar 16 2011 // The number and strength of earthquakes in central Arkansas have noticeably dropped since the shutdown of two injection wells in the area, although a state researcher says it’s too early to draw any...
SCOR Gives Preliminary View on Japanese Natural Catastrophes
Mar 16 2011 //
Best Comments on Rating Impact of Japanese Earthquake/Tsunami
Mar 16 2011 // A.M. Best Co. has issued a bulletin indicating that it does not “expect an immediate rating impact on Japanese non-life insurers and reinsurers due to the March 11, 2011 earthquake in Japan. However, the...
Debate Begins: Will Japan Disaster Raise Insurance Rates?
Mar 16 2011 // Losses from the Japanese earthquake will reduce insurers’ capital reserves, insurance brokers said Tuesday, as sector shares continued their sharp declines on fears the disaster’s size could grow. Ace, a...
Japan Scrambles to Pull Nuclear Plant Back from Brink of Disaster
Mar 16 2011 // Japan’s nuclear crisis appeared to be spinning out of control on Wednesday after workers withdrew briefly from a stricken power plant because of surging radiation levels, but desperate efforts to avert a catastrophic...
GeoVera Insurance Launches Hurricane Product in Hawaii
Mar 15 2011 // GeoVera Insurance Co. has launched a residential windstorm-hurricane insurance product in Hawaii. The policy will insure residential properties against the single peril of windstorm during a hurricane. GeoVera is...
Fitch Ratings: Japan Quake/Tsunami Losses ‘Appear Manageable’
Mar 15 2011 // Fitch Ratings has issued a bulletin, indicating that it “believes that while the 11 March earthquake in Japan will be among the largest insured losses in history, such losses can be absorbed by the insurance and...
Swiss Re Reaffirms Commitment to Japanese Market
Mar 15 2011 // Swiss Re issued a statement which stressed that it is “committed to the Japanese insurance market and to supporting the country’s recovery from the devastating earthquake and tsunami which claimed many lives...
Japan Recovery and Reconstruction Cost ‘at Least $180 Billion’
Mar 15 2011 // Quake-hit Japan faces a recovery and reconstruction bill of at least $180 billion, or 3 percent of its annual economic output and more than 50 percent higher than the total cost of 1995’s earthquake in Kobe. Even...
Japan Quake/Tsunami Loss Estimates Continue to Hit Insurers’ Shares
Mar 15 2011 // Investors sold insurance shares Monday in fear of how high the total losses from Japan’s earthquake and tsunami will go, though it will take weeks to determine how much was actually lost. At least one set of experts...
EQECAT Analyzes Specific Exposures from Japan Quake/Tsunami
Mar 15 2011 // Catastrophe modeling firm EQECAT has issued a bulletin describing the potential insured market losses and summarizing the various impacts of Japan’s insurance market with its specific inclusions and...
Lloyd’s Statement on Japanese Earthquake/Tsunami
Mar 15 2011 // Lloyd’s of London has issued the following statement on the Japanese earthquake: “Our thoughts are still with those affected by the major earthquake and tsunami events in Japan. “Lloyd’s is...
Western U.S. Tsunami Damage Exceeds $50 Million
Mar 14 2011 // Tsunami waves following Japan’s massive earthquake are estimated to have caused more than $50 million in damage in the Western United States, according to local officials. In Hawaii, Gov. Neil Abercrombie issued an...
Commentary: The World Responds to Japan’s Agony
Mar 14 2011 // The magnitude 8.9 earthquake, 6 miles down in the Japan Trench and 130 kms (81 miles) off Japan’s northeast coast, triggered a tsunami that devastated cities and towns over a wide area. Pictures of the onrushing...
Aflac CEO Says Exposure to Japan Quake/Tsunami is ‘Limited’
Mar 14 2011 // U.S. insurer Aflac Inc , which is the largest foreign insurer in Japan, has “rather limited” financial exposure to the devastating earthquake and tsunami, Aflac’s chief executive said. “Are we going...
Analysts Describe Quake/Tsunami Impact on Japan’s P/C Insurers as ‘Limited’
Mar 14 2011 // A decline in shares of Japanese non-life insurers including MS&AD Insurance Group [Mitsui Sumitomo] is expected to be temporary as the impact on their earnings of the earthquake and tsunami in northeast Japan should be...
“Unexpected Nature” of Japan Quake Complicates Insured Loss Estimates
Mar 14 2011 // The unexpected nature of this week’s earthquake in Japan, plus the damage from the subsequent tsunami and fires, makes estimating insured losses from the disaster especially difficult, senior executives at two top...
