Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Hurricane Ike Claims Total Nearly $12B in Texas
Jan 29 2010 // Hurricane Ike, which struck Galveston on Sept. 13, 2008, has proved to be the costliest weather catastrophe in Texas history by a large margin. The storm racked up nearly $12 billion in windstorm and flood insurance claims...
RMS Analyzes Haiti Earthquake, Regional Repercussions
Jan 29 2010 // Risk Management Solutions has released a report on the impact of the earthquake that struck near the Haitian capital Port-au-Prince on January 12. The 7.0 magnitude quake destroyed much of the city and surrounding...
Texas Agent and Former Windstorm Association Chair Dies at 81
Jan 29 2010 // Corpus Christi independent insurance agent and former Texas Windstorm Insurance Association chairman, Lloyd L. Grove Jr., passed away Jan. 24 at the age of 81. Throughout his 50-year career Grove was actively involved in...
Haitian Government Receives $7.75 Million from CCRIF
Jan 28 2010 // The Caribbean Catastrophe Risk Insurance Facility (CCRIF) has paid the Government of Haiti US $7,753,579 following the Magnitude 7.0 earthquake which struck close to Port-au-Prince on January 12, causing damage of...
Prime Insurance Syndicate, Inc. Jury Verdict Rules in Favor of Insurer in Hurricane Katrina Claim
Jan 27 2010 // Reassured by jury’s unbiased decision Chicago, Illinois and Salt Lake City, Utah (January 27, 2010). Prime Insurance Syndicate, Inc. was successfully defended in a Hurricane Katrina lawsuit in the United States...
Tragedy in Haiti; XL Moves to Ireland; NYC Exchange Doesn’t Worry London; WEF Prepares for Davos
Jan 24 2010 // The tragedy in Haiti is a reminder of how fragile life can be in developing countries.Despite the massive loss of life and widespread destruction in and around the capital Port-au-Prince, vital rescue efforts have been...
Tropical Storm Magda Threatens Northeastern Australia
Jan 22 2010 // A report from Risk Management Solutions on tropical storm Magda places it at around 500 miles (800 kms) northeast of Port Hedland, Australia, and 520 miles (830 kms) west-southwest of Darwin, according to the Joint Typhoon...
Only 20% of Oregonians Insured for Earthquake Risks
Jan 19 2010 // Although Oregon is among the states at highest risk for a major earthquake, only about 20 percent of Oregonians have earthquake insurance, according to a Department of Consumer and Business Services (DCBS)...
Calif. Earthquake Damage To Top $28M, ‘State of Emergency’ in Humboldt County
Jan 14 2010 // California Gov. Arnold Schwarzenegger has declared a state of emergency in the Northern California county struck by a weekend earthquake, saying damage from the magnitude-6.5 temblor was expected to top $28...
Private Insurance Market in Haiti Small
Jan 14 2010 // Haiti’s private insurance market is very small but its government did provide a level of insurance coverage to its citizens by participating in a regional risk sharing pool. “Haiti is the poorest country in the...
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...
