Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Willis Re, Thomson Reuters Launch Online Catastrophe Price Index
Apr 28 2009 // Willis Re, the reinsurance arm of global broker Willis Group Holdings, and Thomson Reuters today announced the launch of the Willis Re Catastrophe Price Index™ on the Thomson Reuters Insurance Linked Securities...
Florida Rep. Proctor Challenges Commissioner McCarty’s Insurance View
Apr 28 2009 // In my opinion, Florida Insurance Commissioner Kevin McCarty’s assertions that our state has “one of the most” competitive property insurance markets in the country and that easing rate regulation will not...
RMS’ Paradex Model Plays Key Role in Munich Re, Tokio Marine Cat Swap
Apr 27 2009 // Risk Management Solutions announced that Munich Re and Tokio Marine Nisshin Fire have closed a private catastrophe swap based on its industry loss index, Paradex-Europe Windstorm. “This transaction now brings the...
Willis Research Network Reports on Hazard Risk Assessment Conference
Apr 27 2009 // Last Thursday, April 23, the Willis Research Network (WRN), which is supported by Munich Re, Risk Management Solutions and Swiss Re, held a conference at the General Assembly of European Geosciences Union (EGU) in Vienna....
Has Globalization Made the World More Catastrophe-Prone?
Apr 27 2009 // As the world grapples with the worst economic downturn in decades and the possibility of a flu pandemic, a growing body of research suggests the complexity of the modern global economy may make us more vulnerable than ever...
South Carolina Gov. Sanford Backs Cut in Wildfire Fighting Budget
Apr 27 2009 // South Carolina Gov. Mark Sanford is not backing down from his proposal to trim $1 million in state spending from wildfire fighting, even as damages mount in a fire near Myrtle Beach. Sanford spokesman Joel Sawyer said that...
Report: Levees Won’t Save New Orleans in Extreme Events
Apr 27 2009 // Levees and floodwalls surrounding New Orleans – no matter how large or sturdy – cannot provide absolute protection against overtopping or failure in extreme events, according to a new report by the National...
Mississippi to Study Hurricane Mitigation Efforts’ Costs, Benefits
Apr 24 2009 // Mississippi has hired a wind engineering firm to assess the various steps that property owners might take to reduce damage from hurricanes. Mississippi Insurance Commissioner Mike Chaney and wind engineering firm AIR...
Wildfire Burns Homes Near South Carolina’s Myrtle Beach
Apr 24 2009 // A coastal wildfire spread early Thursday toward one of the busiest tourist stretches in South Carolina, burning dozens of homes and forcing hundreds to flee in the middle of the night. No injuries were reported. Police...
Florida’s Property Insurance Market: An Overview by Commissioner McCarty
Apr 24 2009 // It is always interesting, and frequently amusing, to read various “research” pieces on the Florida property insurance market. While I, like every other insurance regulator, industry professional and observer in...
Texas Agents Rate Companies on 2008 Hurricane Response
Apr 24 2009 // Insurance companies responding to last year’s hurricanes Dolly and Ike were given generally good marks by independent agents along the Texas coast in a recent member survey by the Independent Insurance Agents of...
Insurers, Environmental Advocates Urge Changes to Protect U.S. Coastlines
Apr 23 2009 // A coalition of insurers, public officials, risk experts, builders and conservation groups introduced a blueprint of policy changes and common sense actions that could reduce economic losses from future storms and rising...
California AIG Sylmar Wildfire Survivors To Receive Additional Coverage
Apr 22 2009 // The California Department of Insurance (CDI) has secured between $37 million and $46 million in additional coverage from AIG for Sayre Fire survivors in Sylmar. Commissioner Poizner was joined by Los Angeles City...
Severe Storm Season Like 2008 Could Occur Once Every 4 to 5 Years, RMS Predicts
Apr 22 2009 // As the peak tornado season rapidly approaches in May, Risk Management Solutions (RMS), a provider of products and services for catastrophe risk management, has released a special report analyzing the impact of the 2008...
Hawaii’s Big Island Rattled by Strong Earthquake
Apr 21 2009 // Officials say a strong earthquake shook parts of Hawaii’s Big Island but no damage has been reported. U.S. Geological Survey’s Hawaiian Volcano Observatory says a temblor with a magnitude of 5.0 struck Tuesday,...
Signs Around Los Angeles Beaches Warn of Tsunami Threat
Apr 20 2009 // Like many Californians who put down roots in earthquake country, Robin Rudisill knows the “Big One” could strike without warning. Yet from her Venice beachfront duplex, Rudisill worries about a different...
Moderate Earthquake Rattles Northwest China; No Injuries Reported
Apr 20 2009 // Chinese seismological authorities say a moderate earthquake registering a magnitude of 5.5 Sunday struck China’s far western Xinjiang region. No injuries were immediately reported. An official from the Xinjiang...
Forecaster WSI Reduces 2009 Season Hurricane Count to 6
Apr 20 2009 // The 2009 Atlantic hurricane season will produce 11 tropical storms, of which six will become hurricanes, WSI Corp predicted Monday. The Andover, Massachusetts, private forecaster reduced its forecast from the one it issued...
Oklahoma Wildfire Damage Estimates Increased to $30M
Apr 20 2009 // An Oklahoma insurance official says insured losses from recent wildfires that destroyed more than 100 structures in Oklahoma are expected to reach $30 million. Assistant Insurance Commissioner Marc Young says that figure...
<em>09.13.08, Hurricane Ike</em>: Must See TV
Apr 20 2009 // For Galveston, Texas, and nearby coastal areas, the recovery from Hurricane Ike, the massive storm that devastated the Texas coast on Sept. 13, 2008, has been a slow and painful process. Now, a powerful new documentary...
