Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
United Fire & Casualty Earned Premiums Down in Q1, Net Income Up
Apr 26 2010 // Cedar Rapids, Iowa-based insurance company United Fire & Casualty Co. reported a dip in premiums earned in the first quarter of 2010 compared with that in the same period in 2009, but total revenues and net income...
Tornadoes Rip Southern States; 10 Dead; 1,000 Homes Destroyed
Apr 26 2010 // Dozens of tornadoes left a path of destruction more than 50 miles long throughout the southern U.S.—including Alabama, Arkansas, Georgia, Louisiana, Mississippi and Tennessee—over the weekend. Ten people were...
Travelers Reports Catastrophe Losses Hurt Profits in Q1
Apr 23 2010 // The Travelers Cos. Inc. reported net income for the first quarter 2010 dropped just $15 million, to $647 million in Q1 2010, compared to $662 million in Q1 2009. Operating income in the current quarter declined as well to...
Florida CEOs Urge ‘Cost Driver’ Reforms as Legislature Nears End
Apr 21 2010 // The Florida-Based Property Insurers CEO Group, representing 21 carriers, held a media conference today to discuss legislation to address the problems in the state’s property insurance market. The group downplayed the...
Gray to Lead Catastrophe Services for Dallas-based Cunningham Lindsey
Apr 20 2010 // Dallas-based independent insurance claims services company, Cunningham Lindsey, has expanded Randy Gray’s leadership responsibilities to include the Catastrophe Division. Gray currently is the vice president of...
European Insurers Expect Little Hit from Volcano Fallout
Apr 16 2010 // Airlines which stand to lose millions of euros from a cloud of Icelandic volcanic ash disrupting flights and closing airports across northern Europe are expected to have little recourse to recoup losses from insurance...
San Francisco Voters Urged to Pass $412M Earthquake Bond Measure
Apr 15 2010 // The mayor and other San Francisco officials are urging residents to approve a $412 million bond measure on the June ballot to help prepare for the next major earthquake. The measure would allocate $104 million to reinforce...
Louisiana Hurricane Researcher and Corps Critic Fails to Win Job Back
Apr 15 2010 // A federal judge refused to immediately reinstate Louisiana State University hurricane and coastal researcher Ivor van Heerden, who was stripped of most of his duties last year. Van Heerden claims he is losing his job...
Key Mississippi Katrina ‘Wind v. Water’ Case Settled Out of Court
Apr 15 2010 // A Mississippi couple and the insurer they were suing over hurricane damage to their coastal home from Hurricane Katrina have settled their closely-watched case out of court. The terms were not disclosed. The case, Corban...
P/C Industry’s Net Income Up $25B in 2009; Combined Ratio Improves
Apr 15 2010 // The U.S. property/casualty industry’s profitability as measured by their rate of return on average policyholders’ surplus (or statutory net worth) increased by 5.8 percent in 2009, while private P/C...
Italy’s Mt. Vesuvius Ranked as Europe’s Most Dangerous Volcano
Apr 15 2010 // A major eruption of Italy’s Mount Vesuvius could result in 8,000 fatalities, 13,000 serious injuries and total economic losses of more than $24 billion, says a new study. According to the Willis Research Network...
Icelandic Volcano Eruption Intensifies; Airline Travel No-Go
Apr 15 2010 // A volcanic eruption in Iceland, which has thrown up a 6-km (3.7 mile) high plume of ash and disrupted air traffic across northern Europe, has grown more intense, an expert said on Thursday. The eruption under the...
Death Toll from Southwestern China Earthquake Now at 300
Apr 14 2010 // The death toll from an earthquake in the mountainous Tibetan plateau in southwestern China has reached about 300, with more than 8,000 injured, state television reported on Wednesday, quoting a government official.
Minor Earthquake Reported in Southwest Virginia
Apr 14 2010 // There are no reports of damage from a minor earthquake that struck Southwest Virginia. The National Geological Survey’s Web site says the 2.5-magnitude temblor struck at 12:12 a.m. Tuesday. The epicenter was 8 miles...
Report: Q1 Catastrophe Bond Market Sees Sustained Improvement
Apr 14 2010 // Catastrophe bond issuance conditions saw sustained improvement in the first quarter of 2010, reflecting the increase in prominence of the insurance linked securities (ILS) asset class. Despite the continued improvement in...
Florida Chief McCarty: Facts, Not Fear, Should Guide Insurance Debate
Apr 12 2010 // Florida Insurance Commissioner Kevin McCarty sent a letter to the state’s media outlets on April 9 regarding the current property insurance system and what should be done to improve it. In it, he says the exodus of...
Arkansas, Oklahoma Record Minor Earthquakes
Apr 12 2010 // The U.S. Geological Survey has recorded another earthquake in central Oklahoma, and an additional one in central Arkansas as well. A 3.2 magnitude earthquake was recorded at 7:42 a.m. April 8 about two miles southwest of...
Florida Gov. Crist Vows to Veto Bills Favoring Insurers
Apr 8 2010 // Gov. Charlie Crist says he will veto any legislation that raises homeowners insurance rates. “If a bill gets to my desk that favors the insurers, I will veto it,” Crist told a group of Realtors convening at the...
Forecasters Predict Above-Average Hurricane Season in 2010
Apr 8 2010 // The 2010 Atlantic hurricane season will produce an above-average eight hurricanes, four of them major, posing a heightened threat to the U.S. coastline, the Colorado State University hurricane forecasting team predicted...
7.8 Earthquake Rocks Indonesian Island of Sumatra
Apr 7 2010 // A major earthquake of 7.8 magnitude shook the northwestern coast of the Indonesian island of Sumatra, the U.S. Geological Survey said on Tuesday. A local tsunami watch was in effect for Indonesia, the Pacific Tsunami...
