Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
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...
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...
