Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Lawyers Hope to Fix Catastrophe- Related Insurance Problems
Jan 14 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...
Minnesota Family Blames Poor Construction, Not Tornado, for Death
Jan 13 2009 // The family of a 10-year-old girl who died in a 2006 tornado in Rogers is blaming a homebuilder for the girl’s death. In a wrongful death lawsuit in Hennepin County District Court, the family of Jaymi Wendt claims...
Windstorm Fund a Leading Issue With Lawmakers at Texas Capitol
Jan 12 2009 // Hurricane Ike was the big storm Texas officials feared would hit the coast – and the state’s way of paying for it afterward. When lawmakers convene Jan. 13, they’ll face the financial devastation left by...
California Wildfires May Take Longer to Settle
Jan 11 2009 // Industry analysts are predicting insured losses from the Freeway Complex, Sayre and Tea Fires that burned Southern California in mid-November will range from $600 million to $800 million, as of estimates gathered in early...
Group Targets Hurricane Products That Don’t Meet Florida Code
Jan 11 2009 // A new consumer group in Florida is promising to track down products that are touted as hurricane protection but fail to meet state safety standards. Bill Feeley, president of the International Hurricane Protection...
California Hosts Insurance Recovery Forum for Wildfire Survivors
Jan 9 2009 // California Insurance Commissioner Steve Poizner is hosting town hall-style Insurance Recovery Forums for survivors of the November 2008 wildfires. The first of such town hall meetings was held Jan. 8 in Sylmar, Calif....
Reinsurance Renewals Are Firming, Concludes Aon Benfield Report
Jan 9 2009 // Global reinsurance prices firmed for Jan. 1, 2009 renewals and are expected to remain firm for the April through July 2009 renewals, according to the January 2009 “Reinsurance Market Outlook” issued by...
AIR Worldwide Analyzes Recent Earthquakes in Indonesia
Jan 7 2009 // According to catastrophe risk modeling firm AIR Worldwide, a series of strong earthquakes shook the West Papua province of Indonesia this past weekend. The U.S. Geological Survey reported that the initial quake measured...
Study: California Earthquake Would Accelerate US Mortgage Meltdown
Jan 6 2009 // In light of current economic conditions, a major catastrophe such as an earthquake in California would bring new misery to both U.S. and international financiers, according to an analysis released by Impact Forecasting...
Gusts Blow in Colorado’s 4th Most Expensive Windstorm, Damage Estimated at $7M
Jan 5 2009 // Some Colorado residents spent the New Year making repairs and calling their insurance companies after strong winds pounded the Front Range, Colorado Springs, the Eastern Plains and Southern Wyoming on Dec. 30, 2008. A...
2008: Top Stories of the Year
Jan 5 2009 // 2008 can be described as a year like no other in the property/casualty insurance world. This year we saw the near death of the world’s largest and most successful insurance company, AIG. The soft market continued to...
Climate Change Raises 2008 Cat Losses to $200 Billion Says Munich Re
Dec 31 2008 // Munich Re has released its annual report on the natural catastrophes that occurred in 2008, which it describes as “one of the most devastating years on record.” 2008’s major catastrophes included a number...
Catastrophe Losses Up 7% in 2008, Making It One of Costliest Years for Insurers
Dec 30 2008 // The high frequency and severity of Atlantic hurricanes in 2008, coupled with other weather-related and man-made losses, placed the year among the costliest on record for insured catastrophe losses. That’s according...
Munich Re 2008 Catastrophe Report Cites Role of Climate Change
Dec 30 2008 // Munich Re has released its analytical report on the natural catastrophes that occurred in 2008, which the reinsurer describes as, “one of the most devastating years on record.” 2008’s major catastrophes...
Group Tackles Hurricane Products That Don’t Meet Florida Code
Dec 23 2008 // Bill Feeley, president of the International Hurricane Protection Association (IHPA), announced the formation of the Consumer Safety Task Force for Hurricane Protection Products, intended to act in unison with the Florida...
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’...
