Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
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...
Texas Windstorm Insurance Pool’s Mobile Claim Office Closing Nov. 5
Oct 28 2008 // The Texas Windstorm Insurance Association (TWIA) reported that adjusters have now made contact with all policyholders except those who have recently reported claims. As a result TWIA will close its mobile catastrophe claim...
Insurers to Pay $11.5 Billion in Q3 Catastrophe Claims
Oct 27 2008 // U.S. property/casualty insurers are expected to pay homeowners and businesses an estimated $11.5 billion for third-quarter property losses resulting from a total of 11 catastrophes in 22 states — the fourth-largest...
Hurricane, Investment Losses Cut Into Chubb’s Q3 Profit
Oct 24 2008 // Like many of its property/casualty competitors, Chubb Corp. saw its third quarter profit cut by investment losses and Hurricane Ike but the New Jersey-based insurer still emerged with $264 million in net income, $300...
Haiti Hurricane Damage Estimated at $1 Billion
Oct 23 2008 // The storms that have battered Haiti since August caused nearly $1 billion of damage, World Bank President Robert Zoellick said Wednesday. “That’s a lot for a country of 8 million people and there’s been a...
Allstate Posts $923M Net Loss for Q3
Oct 23 2008 // Catastrophe losses and the global financial crisis contributed to a $923 million net loss for the third quarter of 2008, which reflects an operating loss of $190 million and net realized capital losses of $728 million, The...
Idaho Residents Remember Strong Earthquake
Oct 22 2008 // Holly Seefried was in bed sleeping beside her husband, Bill, at 8:06 a.m. on Oct. 28, 1983, when they awoke to a roar outside their ranch home near Mackay. The noise grew louder by the second. “There was this...
Oregon Proposes Sharing Wildfire Costs
Oct 22 2008 // The only sure things about wildfires is that they will cost more to put out than they used to and that they remain as unpredictable as ever. Hotter, drier summers, rising labor and equipment costs, buildup of forest fuels...
Travelers Takes Q3 Hit from Hurricanes
Oct 22 2008 // Travelers Cos. Inc.’s net income dropped to $214 million for the third quarter, down from $1.2 billion for the same period last year, as the company absorbed losses from Hurricanes Ike, Gustav and Dolly. The...
California Opens Local Assistance Center for Wildfire Victims
Oct 22 2008 // California Gov. Arnold Schwarzenegger announced the establishment of a Local Assistance Center to help victims of the recent Southern California wildfires. The center, located at Dexter Park, in Sylmar, Calif., will...
California Recovers Nearly $13 Million Following 2007 Wildfires
Oct 21 2008 // Nearly one year after the October 2007 wildfires, California Insurance Commissioner Steve Poizner announced that the state’s Department of Insurance has recovered more than $12.7 million from insurance companies by...
Willis Report: California May See Less Shaking in Earthquake
Oct 21 2008 // Willis Group Holdings, a global insurance broker, has released a report summarizing recent changes in the scientific view of seismic hazard in the United States. The report has been added to the curriculum of the Associate...
$395 Million Approved for Flood, Tornado Recovery in Iowa
Oct 20 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...
Storms’ Toll Takes on Many Forms
Oct 20 2008 // The industry group says at least $553.1 million in insured losses were left by remnants of Hurricane Ike, which swept through the state on Sept. 14. The economic crisis with the failures of Lehman Brothers, then AIG, and...
Carvill Offers Options on Individual Named Storms
Oct 20 2008 // Carvill Capital Markets recently listed named storm contracts on the Chicago Mercantile Exchange, providing coverage for live hurricanes and for an entire hurricane season. Patrick Gonnelli, president of Carvill Capital...
Wisconsin Insurance Commissioner Sean Dilweg
Oct 20 2008 // From tornadoes, hail and flooding to the impact of the AIG bailout and the federal versus state regulation debate, Sean Dilweg has a lot on his plate as Wisconsin’s insurance commissioner. Appointed by Wisconsin...
