Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Texas Lawmakers Outline Hurricane Mitigation Recommendations
Feb 13 2009 // The state of Texas should require certain businesses like gas stations and nursing homes to have backup power generators to avoid the massive disruptions caused by Hurricane Ike, according to recommendations released by a...
Oklahoma Town Surveying Damage After Twisters Kill 8
Feb 12 2009 // Insurers such as Zurich and Farmers have announced they are sending catastrophe response teams to Arkansas, Oklahoma and Texas, areas pummeled by severe weather earlier this week. Especially hard hit by a cluster of...
Michigan Governor Opposes Hike in State’s Auto Catastrophic Claim Fee
Feb 9 2009 // Gov. Jennifer Granholm doesn’t want Michigan motorists to pay any more than they are now to support seriously injured accident victims. The governor asked the Michigan Catastrophic Claims Association to not increase...
USC Geographers Create U.S. ‘Death Map’ of Natural Event Fatalities by County
Feb 8 2009 // University of South Carolina geographers have produced a map of natural-hazard mortality in the United States. The map, featured in the International Journal of Health Geographics, gives a county-level representation of...
The Hartford Reports Loss for 2008, ‘Most Challenging’ Year in History
Feb 6 2009 // The Hartford Financial Services Group, Inc. reported a fourth quarter 2008 net loss of $806 million. For full year 2008, The Hartford reported a net loss of $2.7 billion, compared to net income of $2.9 billion in...
The Hanover Group Sees Profits Shrink
Feb 6 2009 // Fourth quarter profits at The Hanover Insurance Group fell 55 percent from $75.8 million a year ago to $34.1 million. Full-year net income dropped nearly 92 percent to $20.6 million, from the $253.1 million the Worcester,...
Alaskans Brace for Possible Volcanic Eruption
Feb 5 2009 // Maree Shogren knows firsthand the toxic power of a volcano, so don’t blame her for being a little freaked out about the expected eruption of Alaska’s Mount Redoubt. The Anchorage woman vividly recalls the 1992...
Ike Vendors Still Waiting for Texas to Pay Hurricane Response Bills
Feb 5 2009 // The state of Texas has accrued $134 million in unpaid bills from emergency response to Hurricane Ike – and vendors want their money. Jack Colley, the state’s director of emergency management, told the state...
Earthquake Reveals Cracks in Washington Alert System
Feb 4 2009 // When an earthquake larger than magnitude 3 strikes the Northwest, an automated system is supposed to page University of Washington seismologists and notify emergency managers. But that’s not what happened on Jan. 30,...
Texas Governor Calls for Reform of Texas Wind Pool Funding
Feb 4 2009 // Three of the five emergency items that Texas Gov. Rick Perry has outlined for the 2009 legislative session relate to hurricane recovery, including legislation to reform the Texas Windstorm Insurance Association (TWIA) and...
Third Earthquake Recorded In Southeastern Oklahoma
Feb 4 2009 // For the third time in less than a week a small earthquake has been recorded in Oklahoma, but geological experts say these occurrences are not uncommon or cause for alarm. The U.S. Geological Survey reported a magnitude 3.2...
Report Finds Cat Bond Market Resilient in Financial, Property Catastrophes
Feb 4 2009 // Catastrophe bonds withstood the impact of onerous market forces in 2008, brought on by turmoil in the global capital markets, according to a new briefing on catastrophe bond market activity. The cat bond market update,...
Recession, Credit Crisis Stall Louisiana’s Hurricane Recovery Bonds
Feb 2 2009 // The U.S. recession and credit crisis have stalled a financing program created to help Louisiana recover from 2005’s devastating hurricanes, the southern state’s secretary for economic development told...
Allstate Posts 9% Decline in Profit for 2008; Combined Ratio at 99.4%
Jan 29 2009 // Allstate reported consolidated revenues were $6.6 billion in the fourth quarter of 2008 and $29.4 billion for the 2008 year, a 9 percent drop from the previous year. The decrease in revenue of $2.4 billion and $7.4 billion...
Earthquake Reported in Central Oklahoma
Jan 29 2009 // The U.S. Geological Survey is reporting an earthquake southwest of Oklahoma City. The quake had a preliminary magnitude of 3.4 and no injuries or damage were reported. The U.S.G.S. say the earthquake was felt about 5:19...
Small Earthquakes Reported in Northeast Arkansas
Jan 28 2009 // A series of small earthquakes occurred Jan. 26 in northeast Arkansas. The U.S. Geological Survey said three quakes of magnitudes ranging from 2 to 2.8 occurred between 1 a.m. and 5:09 a.m. a few miles east of Walnut Ridge...
Study: Southern California Could be Overdue for Earthquake
Jan 28 2009 // Southern California could be overdue for a powerful earthquake along the notorious San Andreas fault line, according to a new study. New research to be published and carried out by scientists at the University of...
Hiscox Comments on Renewals, Investments, Currency, Hurricanes
Jan 27 2009 // Bermuda-based Hiscox Ltd. has issued a summary of the January renewals, its expected investment returns and the effect of currency fluctuations, as well as its hurricane loss estimates. Hiscox said it has “seen good...
Travelers Reports Solid Q4, Year-End Underwriting; ‘Well Positioned’ for 2009
Jan 27 2009 // The Travelers Companies, Inc. reported net income of $801 million for the quarter ended Dec. 31, 2008, compared to $1.063 billion, for the quarter ended Dec. 31, 2007. Operating income in the current quarter was $939...
How Lawyers Hope to Fix Catastrophe Insurance Problems
Jan 25 2009 // The nation’s lawyers who deal with insurance issues are developing policy recommendations designed to improve access to insurance coverage, reduce litigation over coverage and mitigate future losses involving natural...
