Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Ratings II: Zurich (Spain), HDI (Italy), National Grid, Cat Bonds of Ajax, Carillion, Newton
Dec 23 2008 // Standard & Poor’s Ratings Services has raised its counterparty credit and insurer financial strength ratings on non-life insurer Zurich Espana, Compania de Seguros y Reaseguros, S.A.(Zurich España) to...
‘Death Map’ Geographers Compare Natural Event Fatalities by County
Dec 22 2008 // University of South Carolina geographers have produced a map of natural-hazard mortality in the United States. The map, featured in the Dec. 17 issue of the International Journal of Health Geographics, gives a county-level...
2008: A Year of Financial Storms
Dec 21 2008 // 2008 can be described as a year like no other in the property/casualty insurance world. This year, the industry witnessed the near death of the world’s largest and most successful insurance company, AIG. The soft...
Top Regional Stories of 2008
Dec 21 2008 // West California Passed Agent-Broker Law The most notable bill affecting California agents was AB 2956, which clarifies the duties of an insurance agent versus a broker. Prior to the new law, confusion existed within the...
A.M. Best Restores Ratings of Insurers Tied to Florida Hurricane Fund
Dec 19 2008 // Following the completion of the 2008 hurricane season, A.M. Best Co. has removed from under review and affirmed several insurers’ ratings it had issued in October when there was concern over the insurers’...
Farmers Insurance Claims California County Contributed to Wildfire Damage
Dec 19 2008 // The giant Farmers Insurance Group blames Santa Cruz County for contributing to the spread of the summertime Trabing wildfire, which destroyed dozens of homes. Farmers filed $3 million worth of claims saying the county...
South Carolina Coastal Residents Feel Effects of Mini-Earthquake
Dec 18 2008 // A weak earthquake shook parts of the South Carolina coast Tuesday, tipping over people’s Christmas trees, knocking pictures off walls and causing minor injuries. The temblor with a preliminary magnitude of 3.6 was...
Best Affirms First Hawaii ‘A’ Ratings
Dec 18 2008 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of First of Hawaii Group and its members. The outlook for all ratings is...
Swiss Re Study: 238,000 Dead, Losses $225 Billion from 2008 Catastrophes
Dec 18 2008 // According to initial estimates from the forthcoming Swiss Re sigma study on catastrophes, more than 238,000 people lost their lives to natural catastrophes and man-made disasters in 2008 – the fourth largest number...
Forecast Pioneer Clark Says Short-Term Hurricane Models Overstate Losses
Dec 17 2008 // A new report finds that hurricane risk models designed to predict insured losses in the U.S. from Atlantic hurricanes for the five-year period ending in 2010, significantly overestimated these losses for the cumulative...
Colo. Forecasters Expect Busy 2009 Hurricane Season
Dec 16 2008 // Hurricane forecasters at Colorado State University on Wednesday predicted above-average activity in the Atlantic next year: 14 named storms, including seven hurricanes — three major. The 50-year average is 9.6 named...
3 Months After Ike: 730K Claims Filed; 2,300-Plus Complaints Received
Dec 16 2008 // By Dec. 13, 2008, the three-month mark since Hurricane Ike’s landfall on Galveston Island, more than 730,000 insurance claims had been filed, a number that will continue to climb in the year ahead, the Texas...
FEMA Extends Deadline to Ask For Hurricane Help in Texas
Dec 15 2008 // The Federal Emergency Management Agency is giving Texas victims of Hurricane Ike an extra 29 days to ask for financial help. FEMA extended the application deadline for homeowners, renters and business owners to Jan....
S&P: Challenging Times Loom For U.S. Insurers in 2009
Dec 15 2008 // The deteriorating U.S. economy – with its waves of layoffs, dislocations in the credit and equity markets, and falling home prices – will present a challenge in 2009 for almost every domestic business sector,...
California Earthquake Authority Selects Broker Team for Reinsurance Program
Dec 12 2008 // The California Earthquake Authority Governing Board today approved a team of reinsurance intermediaries to work on the CEA’s behalf to meet its reinsurance needs. AON Benfield will act as lead intermediary, with Guy...
Several Mississippi Counties Hit by Tornadoes
Dec 11 2008 // The National Weather Service says several possible tornadoes were reported in several counties late Tuesday night, damaging homes and knocking down trees and power lines. However, no injuries have been reported. Forecaster...
Texas Windstorm Insurance Association: 63% of Ike Claims Closed
Dec 11 2008 // Texas’ insurer of last resort for wind and hail coverage along the coast reports that 63 percent of claims from Hurricane Ike have been closed and that more than $519 million has been paid to policyholders so...
Willis Research Scientists Unveil ‘Groundbreaking’ Hurricane Models
Dec 11 2008 // Scientists from the Willis Research Network (WRN), part of Willis Group Holdings Limited, have outlined groundbreaking new research on future hurricane activity and storm clustering in a presentation at Willis London...
Insurers Seek Cut in Florida Hurricane Fund Charges to Reflect Reality
Dec 10 2008 // Property/casualty insurers in Florida believe they are being overcharged for coverage from the state’s hurricane fund and some of them are looking for a refund. Insurers contend that the state fund is only...
AIR Updates Earthquake and Typhoon Models for Japan
Dec 10 2008 // AIR Worldwide Corporation announced that it has updated its probabilistic catastrophe risk models for Japan. AIR said the “enhanced models will improve the management of earthquake and typhoon risk in Japan. The AIR...
