Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Munich Re Securitizes $80 Million for Europe Windstorm, U.S. Hurricanes
May 21 2010 // Munich Re has obtained cover for US hurricane and European windstorm risks amounting to US$ 80 million from special-purpose vehicle EOS Wind Ltd, which placed a catastrophe bond in the market. “MEAG, Munich...
Federal Aid for Mississippi Tornado Victims Tops $2.4 Million
May 21 2010 // Nearly one month after the April 23-24 tornadoes, federal disaster assistance provided to tornado survivors reached more than $2.4 million, according to the Mississippi Emergency Management Agency and the Federal Emergency...
Forecasters Expect Below Average Hurricane Season for Central Pacific
May 21 2010 // Weather forecasters said this week that a below-average total of two to three hurricanes are likely to pass through Central Pacific waters this year as ocean surface temperatures cool. But only one hurricane needs to hit...
Aon Benfield Broadens Academic, Industry Research Collaboration
May 20 2010 // Aon Benfield announced that it is “broadening its capabilities and bringing together its academic and industry research relationships under one banner – Aon Benfield Research.” Aon said the team will...
Florida Hurricane Fund Has $17 Billion in Cash for Claims
May 20 2010 // The Florida Hurricane Catastrophe Fund is as healthy as ever heading into the 2010 storm season. An advisory council to the fund reported Tuesday that it has enough cash and bonding ability to pay off more than $25 billion...
RMS Announces New Parametric Loss Index for Japan Quake Risks
May 19 2010 // Risk Management Solutions announced the addition of Japan earthquake to its existing suite of parametric industry loss indices covering U.S. hurricane, U.S. earthquake, and Europe windstorm. RMS said: “Paradex Japan...
Lloyd’s CEO Calls for ‘Underwriting Discipline’ In Face of a ‘Tough Year’
May 19 2010 // Lloyd’s CEO Richard Ward issued a warning to insurance chiefs to prepare for a tough year ahead with the fall-out from large scale catastrophes, such as the Chilean earthquake and Transocean oil spill, likely to be...
Chartis Expands Hurricane Services to Cape Cod
May 19 2010 // Chartis has expanded access of the advanced disaster preparedness and post-hurricane resources of its Private Client Group’s Hurricane Protection Unit to homeowners in the Massachusetts counties of Barnstable, Dukes...
Key Facts, Common Myths About Protecting Homes from Hurricanes
May 19 2010 // With weather forecasters calling for a worse-than-average 2010 Atlantic basin hurricane season, the Institute for Business & Home Safety (IBHS) is advising property owners on the most effective ways to protect their...
South Carolina Had Small Earthquake
May 18 2010 // Federal experts say a small earthquake struck near the South Carolina coast last week. The U.S. Geological Survey reported the quake occurred about 6 miles south southeast of Summerville shortly after 5 a.m. Wednesday. It...
Coming Hurricane Season Could Complicate Gulf Oil Spill Disaster
May 18 2010 // BP’s oil spill could make for one of the highest-stakes U.S. Gulf hurricane seasons on record. Storms may scuttle clean-up efforts, force containment vessels to retreat, or propel spilled crude and tar balls over...
U.S. Being Bankrupted By Disasters, Professor Tells Federal Reserve
May 17 2010 // America is emerging from a deep recession caused by financial messes on Wall Street, but Dr. J. David Rogers says the Federal Reserve is still being bankrupted by natural disasters. “The National Flood Insurance...
Property Insurers Watching Ominous Hurricane Forecasts
May 17 2010 // After significant catastrophe losses in first quarter 2010, U.S. property/casualty insurers and global reinsurers are hoping their balance sheets don’t face further financial risks, even as conditions appear ripe for...
Beyond the Flood Zone: Storm Surge Report Shows Coastal Vulnerabilities
May 17 2010 // Homeowners can mitigate against wind damage, but they’re powerless, really, to do anything against storm surge,” said one researcher whose job it is to develop ways to determine the vulnerability of homes and...
Florida Insurers Head Into Hurricane Season with Fingers Crossed
May 14 2010 // Florida’s property insurance companies haven’t suffered hurricane losses for nearly five years, but many claim to be losing money even while collecting hefty premiums. It’s a complex paradigm for almost...
Survivors Can’t Forget Fierce Hurricane That Hit Florida in 1935
May 14 2010 // The seven elderly guests on stage at Island Christian Church were just kids 75 years ago when a Category 5 hurricane barreled into their homes in the Upper Florida Keys, leaving a trail of destruction and death. A packed...
Louisiana Sales Tax Holiday for Hurricane Supplies: May 29-30
May 13 2010 // Hurricane season is fast approaching and the state of Louisiana wants to help residents prepare. On May 29 and 30, Louisianans can get a tax break when buying emergency supplies, including self-powered light sources like...
Florida Hurricane Funds Seeks $693 Million for Reopened 2005 Claims
May 12 2010 // The Florida Hurricane Catastrophe Fund is to begin selling $693 million in tax-exempt bonds to help repay insurers for new and reopened claims from 2005 storms. The bonds are secured in part by emergency assessments levied...
Northwest Faces Increased Wildfire Risk in 2010
May 12 2010 // El Nino weather patterns and a relatively mild winter left Idaho, eastern Washington and south central Oregon drier than normal and vulnerable to wildfire, accoridng to the Federal Emergency Management Agency (FEMA). In...
Tornado Shelter Legislation Killed in Oklahoma Senate
May 12 2010 // The Oklahoma Senate has killed a bill that would have required owners of mobile and RV parks to provide tenants with a plan to seek shelter. The bill’s author, State Rep. Pat Ownbey, praised a mobile home park south...
