Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Liberty Mutual Absorbs $800 Million in Catastrophe Losses in Q3
Nov 11 2008 // Quarterly profits nosedived by nearly 99 percent at Boston-based Liberty Mutual group, which saw its third quarter earnings fall to $6 million – down from $404 million in the same quarter last year. “Given the...
Paloma Downgraded to Tropical Depression
Nov 10 2008 // Paloma, which had reached Category 4 hurricane strength, lost its punch as it stalled over Cuba Sunday and was downgraded to a tropical depression after coming ashore as a powerful hurricane that battered the island, which...
Deadlines Loom in Louisiana for Post-Hurricane FEMA Assistance
Nov 10 2008 // The Louisiana Recovery Authority says even people who have insurance should register with FEMA if they were affected by hurricanes Gustav or Ike – and they need to do it soon. The deadline is Dec. 3 for people...
Hawaii Gets New Hurricane Forecaster
Nov 10 2008 // The National Weather Service’s Honolulu Forecast Office is getting a new director of operations. Richard Knabb is currently a hurricane specialist at the National Hurricane Center in Miami, Fla. He will manage the...
New Maps Reveal Evansville’s Earthquake Risk
Nov 6 2008 // The U.S. Geological Survey is completing maps that will indicate earthquake hazards in the Evansville area. Geophysicist Oliver Boyd tells the Evansville Courier & Press that he hopes the final maps will be ready next...
Small Earthquake Reported in East Tennessee
Nov 3 2008 // The U.S. Geological Survey reported a small earthquake occurred in East Tennessee, but emergency officials say no damage has been reported. The agency recorded the earthquake was centered near Maryville and occurred at...
Small Earthquakes Hits Arkansas County, Dallas Area
Nov 3 2008 // Federal officials say a 2.7-magnitude earthquake struck on Nov. 1 near the community of Magnet Cove in Hot Spring County, Arkansas. The U.S. Geological Survey reports the earthquake hit three miles northeast of Rockport...
$395 Million Approved for Flood, Tornado Recovery in Iowa
Nov 2 2008 // Iowa communities are getting help recovering from a series of natural disasters this year with nearly $395 million in state and federal funding. The money will go to at least 3,200 projects. The biggest chunk of it, about...
Kentucky Weathering AIG and Ike Hurricanes
Nov 2 2008 // Sharon P. Clark, a 17-year veteran of Kentucky state government, was appointed commissioner of the Kentucky Department of Insurance (DOI) in June. Clark’s experience includes five years as director of the Consumer...
Bright Spots and Challenges Go Hand in Hand in Louisiana
Nov 2 2008 // Despite the challenges faced by the state of Louisiana since Hurricanes Katrina and Rita wrought their havoc in 2005, there are bright spots in the state’s property casualty insurance industry, says Louisiana...
Willis Report: California May See Less Shaking in Earthquake
Nov 2 2008 // Ground view of collapsed building and burned area as a result of an earthquake at Beach and Divisadero, Marina District. Photo courtesy of C.E. Meyer, U.S. Geological Survey. California buildings are less likely to shake,...
California Recovers Nearly $13 Million Following 2007 Wildfires
Nov 2 2008 // Nearly one year after the October 2007 wildfires, the California Department of Insurance has recovered more than $12.7 million from insurance companies by standing up for consumers who had been shortchanged. The $12.7...
Study: California Earthquake Could Cause $200 Billion in Losses
Oct 31 2008 // If a magnitude 7.0 earthquake occured on California’s Hayward Fault today, it would result in economic losses between $210 billion and $235 billion, with only up to $30 billion likely to be insured, according to a...
Northwest Could Learn From 2004 Indonesian Tsunami
Oct 31 2008 // The tsunami that killed 230,000 people in 2004 was the biggest in the Indian Ocean in some 600 years, and it has lessons for the Pacific Northwest, geologists said. Geologists say the long gap between tsunamis in the...
Aspen Posts $116.7 Million Q3 Loss; $91.4 Million 9 Month Profit
Oct 31 2008 // Aspen Insurance Holdings has reported a third quarter 2008 net loss after tax of $116.7 million, compared with a net profit after tax of $117.2 million in Q3 2007. Operating earnings per share also posted a loss in the...
Exposure to Florida Catastrophe Fund Triggers A.M. Best Review
Oct 30 2008 // A.M. Best Co. says based on the credit market contraction and the uncertainty regarding the Florida Hurricane Catastrophe Fund’s ability to fund its claims-paying capacity, it placed several insurers’ ratings...
The Hartford’s Q3 Loss Reported at $2.6 Billion
Oct 30 2008 // Hartford Financial Services Group Inc. joined other insurers in reporting a loss in the third quarter due to large investment losses and catastrophe claims. The Hartford reported a third quarter 2008 net loss of $2.6...
3 Months After Tornado, Some in New Hampshire Still Fighting Red Tape
Oct 30 2008 // Three months after a tornado ripped a 50-mile swath through central New Hampshire, some residents still are caught in a swirl of red tape as they fight to rebuild their damaged or destroyed homes and get on with their...
2008 a Rough Year for Texas Insurers
Oct 28 2008 // Insured losses in Texas lead all other states by a wide margin as claims from the state’s hurricanes continue to pour in, the Insurance Council of Texas (ICT) reported. Insured losses from the first three quarters of...
Texas Lawmakers Critical of Federal Response to Hurricane
Oct 28 2008 // Lawmakers in Texas praised the state’s response to Hurricane Ike but some blasted the efforts of the Federal Emergency Management Agency (FEMA) at a recent meeting of the state Senate’s Transportation and...
