Latest Catastrophe Headlines

More U.S. Firms Buying Terrorism Insurance; Prices Decline: Marsh

Jun 24 2010 // U.S. terrorism insurance purchase rates continued to climb in 2009 as companies of all sizes and across all industries continued to buy terrorism coverage, according to a report by global broker Marsh. Sixty-one percent of...

Earthquake, Tornado, Storms Hit Canada’s International Summit Site

Jun 24 2010 // International leaders might be forgiven if they nervously eye the skies above and the ground below as they gather for summits of the Group of Eight and the Group of 20 in Canada’s province of Ontario this weekend. In...

P/C Insurers Return to Profitability in Q1 With $8.9B in Net Income

Jun 23 2010 // The property/casualty industry returned to profitability in the first quarter of 2010 despite continuing declines in both written premiums and earned premiums. Private U.S. property/casualty insurers’ net income...

Arizona Wildfire Incurs $1.8 Million in Claims

Jun 23 2010 // An Arizona wildfirethat has burned 14,000 acres and incurred $1.8 million in claims to date might be the first example of the fire risks the Western United States are facing in 2010. But, the National Interagency...

Arizona Fire Burns 10,000 Acres

Jun 22 2010 // The wildfire burning near Flagstaff, Ariz., has claimed more than 10,000 acres and is only 10 percent contained three days after it started, the National Interagency Coordination Center has reported. NICC’s latest...

Insurers Revive Cat Bond Market

Jun 21 2010 // Insurers are issuing catastrophe bonds again to complement traditional and cheaper reinsurance and to spread the risks in buying protection against events that could cost them tens of billions of dollars in claims. The...

Storm Management

Jun 21 2010 // The Atlantic hurricane season forecasts are in and they aren’t pretty. All the major forecasters have predicted the season will be much more active than last season. The National Oceanic and Atmospheric...

Double Trouble: Oil and Hurricanes in the Gulf Coast

Jun 21 2010 // AIR Worldwide Reviews Implications of the Gulf Oil Spill for Hurricane Season The current oil spill in the Gulf of Mexico followed soon after a large explosion on the Deepwater Horizon oil drilling platform, 50 miles off...

Double Trouble: Oil and Hurricanes in the Gulf Coast

Jun 21 2010 // AIR Worldwide Reviews Implications of the Gulf Oil Spill for Hurricane Season The current oil spill in the Gulf of Mexico followed soon after a large explosion on the Deepwater Horizon oil drilling platform, 50 miles off...

Jun 21 2010 // 71 As of June 5, the Louisiana Department of Health and Hospitals had received 71 reports of health complaints thought to be caused by exposure to pollutants from the British Petroleum oil well blowout off the coast of...

Storm Management

Jun 21 2010 // The Atlantic hurricane season forecasts are in and they aren’t pretty. All the major forecasters have predicted the season will be much more active than last season. The National Oceanic and Atmospheric...

May Storms in Oklahoma Caused $1B in Damage

Jun 21 2010 // One of the most destructive weather months in Oklahoma history could end up having the state’s highest insurance loss payout in recent memory, industry experts have said. It will be months before all the claims are...

Lloyd’s Team to Assess Chile Earthquake

Jun 18 2010 // Lloyd’s has confirmed that a team has been sent to Chile to “help the market better understand the impact of February’s earthquake and assist in ensuring the speedy payment of valid claims.” The...

Aon Benfield Report Identifies ‘Mega-Earthquake’ ‘Hotspots

Jun 15 2010 // Aon Benfield has published a new report – “When The Earth Moves: Mega-Earthquakes To Come?” – in conjunction with the Aon Benfield UCL Hazard Research Centre. The report was prompted by the recent...

Florida Certifies Updated AIR Hurricane Model

Jun 14 2010 // AIR Worldwide (AIR) is reporting the certification of its 2010 U.S. Hurricane Model by the Florida Commission on Hurricane Loss Projection Methodology. The commission certifies models for use by insurers for developing...

OECD Launches Platform to Coordinate International Terrorism Insurance

Jun 14 2010 // The heads of all the national terrorism insurance programs of the OECD (Organization for Economic Co-Operation and Development) member countries met earlier this month at the OECD headquarters in Paris in an attempt to...

Southwest Wildfire Season Poised to Ignite

Jun 10 2010 // Southwestern states could face a particularly troubling fire season this year, particularly in the next few days, according to AccuWeather.com reports. The company said moisture from winter storms has spurred spring growth...

Munich Re: ‘Ever Higher’ Nat Cat Costs; Ups Chile Quake Loss to $1 Billion

Jun 8 2010 // A bulletin from Munich Re, the world’s largest reinsurer, concludes that the “long-term trend towards ever higher natural catastrophe costs” looks set to continue, according to an analysis from its Geo...

Storm Management

Jun 7 2010 // The Atlantic hurricane season forecasts are in and they aren’t pretty. All the major forecasters have predicted the season will be much more active than last season. The National Oceanic and Atmospheric...

Florida Hurricane Fund In Better Shape

Jun 7 2010 // The Florida Hurricane Catastrophe Fund is as healthy as ever heading into the 2010 storm season. An advisory council to the fund reported that it has enough cash and bonding ability to pay off more than $25 billion in...