Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Ike Insured Damage Estimates Range from $6B to $18B
Sep 15 2008 // Estimates of insured damage from Hurricane Ike vary widely – from $6 billion to $18 billion, according to several catastrophe risk modeling firms, but Texas Insurance Commissioner Mike Geeslin has pointed out that...
S&P Report Analyzes 10 Years Of Natural Catastrophe Bonds
Sep 12 2008 // A report from Standard & Poor’s Ratings Services notes that the “natural catastrophe (nat-cat) bond market has come a long way since S&P rated its first true nat-cat bond a decade...
Experts Meet in South Carolina, Discuss Making Homes Hurricane Ready
Sep 12 2008 // Getting people back in their homes quickly is vital to hurricane recovery, the head of a national program to build more storm-resistant homes said at a conference in South Carolina. “The faster you get the people...
Okla. Gov. Declares Emergency Ahead of Hurricane Ike
Sep 12 2008 // Gov. Brad Henry has declared a state of emergency for Oklahoma in case hurricane evacuees from Texas are brought to the state. Hurricane Ike is expected to hit Texas Saturday and Oklahoma Department of Emergency Management...
State Offices Close in Advance of Ike in 2 SW Louisiana Parishes
Sep 12 2008 // Still recovering from Labor Day’s Hurricane Gustav, south Louisiana braced Sept. 11for a brush with Ike, a powerful hurricane on a projected course for the Texas Gulf Coast. Calcasieu Parish officials in...
Hurricane Ike Idles Texas Oil Industry, Threatens Floods
Sep 12 2008 // Powerful Hurricane Ike bore down on the heart of the U.S. energy sector in Texas Friday, leaving most production idled and threatening a fifth of the nation’s refining capacity with howling winds and a possible...
Like Ike, Insurance Exposures Along Texas Coast Are Massive
Sep 12 2008 // With a giant Hurricane Ike taking aim at the upper Texas coast, the value of insured property at risk is huge, according to the Insurance Information Institute. The total value of insured coastal property in Texas was more...
Louisiana Won’t Be Spared by Ike
Sep 12 2008 // Although Galveston, Texas, is expected to experience the brunt of the storm, Hurricane Ike is a very, very large storm, extending nearly 900 miles across according to some estimates. Louisiana figured it might have been...
Ferocious Hurricane Ike in Gulf of Mexico, Headed for Texas
Sep 11 2008 // Hurricane Ike gathered strength as it churned through the Gulf of Mexico’s warm waters Thursday on a track that would skirt the heart of the U.S. offshore oil patch before slamming into the Texas coast late Friday or...
Thousands Flee Texas Coast as Hurricane Ike Shifts Northward
Sep 11 2008 // On Sept. 10, it looked like Hurricane Ike was going to make landfall along the middle Texas coast, with Corpus Christi being the largest city with the most to lose from the storm, which is expected to make landfall...
Louisiana Still Mopping up From Gustav as Ike Enters Gulf
Sep 10 2008 // Hurricane Ike entered the Gulf of Mexico on Sept. 9 and the latest path projected by the National Hurricane Center has the storm making landfall in Texas, possibly near Corpus Christi. Meanwhile, Louisiana is still mopping...
UPDATE: Ike ‘Growing in Size and Strength’ Says NHC
Sep 10 2008 // Although Hurricane Ike weakened considerably as it passed over Cuba, the most recent bulletin (11:00 a.m. EDT) from Miami’s National Hurricane Center warns that is now “growing in size and strength in the...
North Carolina Committee to Study Beach Plan’s Ability to Cover Risks
Sep 9 2008 // The North Carolina Legislature mandated a committee to study the North Carolina Insurance Underwriting Association’s (Beach Plan) ability to respond financially to a significant hurricane landfall. State Rep. Bruce...
Texas Bracing for Possible Strike by Hurricane Ike
Sep 9 2008 // As Hurricane Ike barrels over Cuba and heads toward the Gulf of Mexico, it has the potential to become the storm that insurance companies in Texas have feared most, according to the Insurance Council of Texas. As of Sept....
Rendezvous Roundup: Guy Carpenter; Aon Global Re; Munich Re
Sep 8 2008 // The Annual Reinsurance Rendezvous in Monte Carlo convened this weekend amid concerns over the ongoing credit crisis, the softening of the market and the onslaught of storms in the Caribbean. The current climate for the...
CCRIF Named Re/Insurance Initiative of the Year
Sep 8 2008 // The Caribbean Catastrophe Risk Insurance Facility (CCRIF) has been honored as the “Re/Insurance Initiative of the Year” at the 2008 Review Worldwide Reinsurance Awards. It’s the first such recognition for...
Florida Closes Last Hurricane Gustav Shelter
Sep 8 2008 // The last American Red Cross shelter in Florida for Hurricane Gustav evacuees closed Sept. 6. As Hurricane Ike moves in from the west, Florida evacuees from Hurricane Gustav are finally able to return home. Craig Fugate,...
Weather, Fuel, Chief Factors in ’07 Idaho Wildfire
Sep 8 2008 // A state and federal report concluded that last summer’s lightning- and cheatgrass-stoked Murphy Complex fire that torched 1,000 square miles of Idaho and Nevada backcountry would have overwhelmed efforts by ranchers...
4.1-Magnitude Earthquake Rattles Northern Nevada
Sep 8 2008 // An earthquake has shaken the area around Swedes Place in northern Nevada. The U.S. Geological Survey’s preliminary report put the quake at a 4.1-magnitude. The temblor hit just before 4:30 a.m. Saturday, Sept. 6,...
Army Corp of Engineers Wins Flood Fight During Hurricane Gustav
Sep 8 2008 // No breaches. Limited brash talk. No “no word” from the Army Corps of Engineers. Few foul ups. Clear risk analysis. And the flood fight got done during Hurricane Gustav. Under a microscope since the catastrophic...
