Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Haiti Earthquake to Cost Insurers Millions: Equecat
Jan 13 2010 // The earthquake that struck Haiti may have caused hundreds of millions of dollars in damages, according to risk assessor Eqecat, which will likely lead to losses even for insurers of well-designed buildings. Eqecat said...
Much of Haiti Damage Uninsured
Jan 13 2010 // The insurance industry is unlikely to face large losses from a major earthquake that struck Haiti Tuesday, because many properties in the impoverished country lack insurance coverage, according to catastrophe modeler Risk...
Tens of Thousands Feared Dead, Capital in Ruins From Haiti’s Catastrophic Quake
Jan 13 2010 // Traumatized Haitians slept out in parks and streets Thursday, fearing aftershocks to the catastrophic earthquake that flattened homes and government buildings and buried countless people. Tens of thousands of people were...
Companies Offer Aid for Haitians; Caribbean Risk Pool Pays $8M
Jan 13 2010 // Companies pledged millions of dollars in aid Wednesday to help victims of a powerful earthquake in Haiti that devastated much of the impoverished country’s capital and killed thousands. Digicel Group, a top mobile...
Mississippi-Based Hurricane Hunters Also Patrol Winter Skies
Jan 12 2010 // On a bitterly cold morning in Anchorage, Alaska, the Hurricane Hunters lift off to scout a weather track that may bring snow to the Northeast or flooding rains in California in the next five days. The winter mission of the...
Most Property Reinsurance Rates Down at January Renewal As Capital Rebounds
Jan 10 2010 // Reinsurance rates across most lines of property catastrophe business declined at the Jan. 1, 2010 renewal, according to a briefing by Guy Carpenter & Co. LLC. Guy Carpenter’s World Catastrophe Rate on Line (ROL)...
RMS Forecasts Increased Growth for Insurance Linked Securities in 2010
Jan 7 2010 // A bulletin from Risk Management Solutions notes that the fourth quarter of 2009 was the “most active… ever for catastrophe bond issuance, reaching almost $1.1 billion in total volume, eclipsing the previous...
Hurricane Forecasters Promise Earlier Warnings
Jan 7 2010 // The National Hurricane Center said this week it will begin issuing storm watches and warnings about half a day sooner in the biggest change to its warning system in decades. When a storm is approaching land, forecasters...
UPDATE: 1,000 People Left Homeless on Solomons after Tsunami
Jan 6 2010 // A disaster management official says an earthquake and a tsunami have destroyed 200 homes on one island in the Solomons leaving about one-third of the population homeless. Disaster management office director Loti Yates says...
Swiss Re Obtains $150 Million Cat Bond Cover for Calif. Quakes
Jan 5 2010 // Swiss Re has entered into a transaction with Redwood Capital XI Ltd., a Cayman Islands exempted company financed through the offering of insurance-linked securities, to receive up to $150 million in the event of a...
Quakes Shake Solomon Islands; No injuries or Damage Reported
Jan 5 2010 // The Solomon Islands were shaken by a string of earthquakes Monday – including one registering a powerful 7.2 magnitude – but officials in the South Pacific country said there were no immediate reports of...
Most Property Reinsurance Rates Down at January Renewal As Capital Rebounds
Jan 5 2010 // Reinsurance rates across most lines of property catastrophe business declined at the Jan. 1, 2010 renewal, according to a briefing by Guy Carpenter & Co., LLC. Guy Carpenter’s World Catastrophe Rate on Line...
Wet, Cool Year in Arkansas; Fewer Tornadoes Than ’08
Jan 5 2010 // First there was the ice that blanketed the northern third of Arkansas. Then the tornado that ripped through Mena. Next came rain – record-breaking amounts of it in 15 Arkansas cities and areas. Long, soaking rains...
Wildfires Destroy Homes in Western Australia
Dec 31 2009 // Wildfires roared across a swath of Western Australia on Wednesday, razing almost 40 homes and sending hundreds of people fleeing for their lives, officials and witnesses said. At least three people were injured. Two major...
Munich Re Analyzes 2009 Nat Cats; A Lot, But Few Big Ones
Dec 30 2009 // A report from Munich Re confirms that losses from natural catastrophes “were far lower in 2009 than in 2008 due to the absence on the whole of major catastrophes and a very benign North Atlantic hurricane...
Swiss Re Forecasts Increasing Demand for Natural Catastrophe Coverage
Dec 29 2009 // Swiss Re has concluded that, despite the unusually quiet 2009 hurricane season, “overall natural catastrophe losses have increased significantly over time and are expected to grow further. “The premium for our...
5 Years After Deadly Indonesia Tsunami, Communities Better Prepared
Dec 23 2009 // Five years after a Sumatra Indonesia tsunami killed 230,000 people, officials say that more communities are taking the threat seriously, implementing warning systems and understanding that swift action is needed if a...
P/C Industry’s Net Income Up; Combined Ratio at 100.7 for Q3
Dec 22 2009 // Private U.S. property/casualty insurers’ net income after taxes rose to $16.2 billion through nine-months 2009, partially recovering from the 91.2 percent decline to $4.4 billion through nine-months 2008 from $49.6...
Indonesia’s Next Big Quake Due under Mentawais Islands
Dec 22 2009 // A massive undersea earthquake is long overdue beneath the Mentawai islands in Indonesia and could trigger another deadly tsunami, say scientists mapping one of the world’s most quake-prone zones. Unlike the 2004...
Scientists Update California Tsunami Maps
Dec 21 2009 // Scientists have released updated tsunami maps pinpointing California coasts vulnerable to giant waves generated by an undersea earthquake. Previous hazard maps only covered select coastal communities and focused on...
