Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
AIR Describes Hurricane Norbert’s Passage over Baja California, Mexico
Oct 13 2008 // AIR Worldwide’s latest bulletin on Pacific Ocean Hurricane Norbert traces the storm’s passage over the southern Baja Peninsula, the Gulf of California, and its eventual landfall on the west coast of Mexico....
Best Lowers Debt Ratings on 3 Lehman-linked Cat Bonds
Oct 10 2008 // A.M. Best Co. has downgraded the debt ratings to “c” from “b+” on $100 million principal at-risk variable rate Series 1, Class A notes of Ajax Re Ltd., to “c” from “bb+” on...
Hurricane Norbert Threatens Baja California
Oct 9 2008 // The most recent bulletin from Miami’s National Hurricane Center warns that Hurricane Norbert is now threatening “the Southern Baja California peninsula.” Maximum sustained winds are near 135 mph (215...
Donegal Insurance Reports 3Q to Reflect Hurricane, Securities Events
Oct 9 2008 // Marietta, Pennsylvania-based Donegal Group Inc. reported that its net income for the third quarter of 2008 will reflect realized investment losses related to its equity securities and claim activity resulting from...
Hurricane Ike’s Windstorm Costs Insurers $550 Million in Ohio Damages
Oct 9 2008 // Winds from Hurricane Ike will cost insurance companies at least $553.1 million to cover property damage and other losses in Ohio, making it the state’s most expensive natural disaster in more than three decades, a...
Ike Claims for Texas Windstorm Pool May be Less Than Expected
Oct 9 2008 // Two weeks after Hurricane Ike hit Galveston, Texas, on Sept. 13, the Texas Windstorm Insurance Association, the state’s insurer of last resort for wind coverage along the coast, was fielding thousands of claims per...
Endurance Releases Hurricane, Financial Loss Estimates
Oct 8 2008 // Bermuda-based Endurance Specialty Holdings Ltd. announced its initial loss estimate related to Hurricanes Ike and Gustav at around $145 million pretax and net of reinsurance and reinstatement premium. The company also...
CCRIF Pays Turks and Caicos $6.3 Million in First Hurricane Recovery
Oct 8 2008 // The Caribbean Catastrophe Risk Insurance Facility (CCRIF) has made its first ever hurricane payout from the multi-country risk pool. Turks and Caicos Premier the Hon. Dr. Michael Misick accepted $6.3 million from the...
Ohio’s Recent Windstorm Could Rival State’s Costliest at $600 Million
Oct 8 2008 // Ohio insurers say losses from last month’s windstorm will rival those from the state’s costliest natural disaster of recent decades. The 1974 tornado that devastated the western Ohio city of Xenia caused about...
Louisiana Lawmakers Seek Limit on Named Storm Deductibles
Oct 7 2008 // Key Louisiana lawmakers plan to challenge property insurers by trying to limit the special deductibles they can impose when homes are damaged by tropical storms and hurricanes. The so-called “named-storm”...
More to Come in Busy Atlantic Hurricane Season
Oct 6 2008 // The 10 tropical storms and hurricanes that ripped through the Atlantic and Caribbean during this busy hurricane season savaged Haiti, Cuba and the U.S. Gulf coast, and conditions are now ripe for more. Residents of the...
More to Come in Busy Atlantic Hurricane Season
Oct 6 2008 // The 10 tropical storms and hurricanes that ripped through the Atlantic and Caribbean during this busy hurricane season savaged Haiti, Cuba and the U.S. Gulf coast, and conditions are now ripe for more. Residents of the...
Louisiana’s Crops, Forests, Fisheries Suffered From Hurricanes
Oct 6 2008 // Louisiana agriculture, forestry and fisheries suffered an estimated $950 million in losses and damages from Hurricanes Gustav and Ike, according to the Louisiana State University AgCenter. The figure is expected to rise as...
Declarations
Oct 6 2008 // A Case by Case Basis “TWIA’s guidelines are, and will continue to be, to look at each claim on an individual case by case basis and determine if the damage claim is covered under their policy.” —Jerry...
Geeslin: It May be 90 Days Before Ike’s True Cost is Known
Oct 6 2008 // Texas’ top insurance regulator told lawmakers on Sept. 24 that the industry estimates there will be around 300,000 property claims — including commercial property claims — stemming from Hurricane Ike, which...
Carvill Offers Options on Individual Named Storms
Oct 6 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...
Adjusters Working Ike Claims from Texas Coast to Arkansas Border
Oct 2 2008 // Thousands of insurance claims adjusters are examining the damage left behind by Hurricane Ike from the Texas coast to the Arkansas border, the Insurance Council of Texas (ICT) reported. Millions of dollars in insurance...
Minnesota New Home for Dogs Displaced by Hurricane Ike
Oct 2 2008 // More than 100 dogs displaced by Hurricane Ike will soon be awaiting new families in Minnesota. The Animal Humane Society received 59 dogs in the Twin Cities on October 1 and expects to get another 60 in the next week or...
Earthquake-Damaged School Gym in Illinois Causing Controversy
Oct 1 2008 // An earthquake that shook much of the Midwest months ago is giving a Metro East, Ill. school district some financial aftershocks. Officials in East Alton say the April quake caused as much as $1.2 million in damage to the...
Texas Windstorm Insurance Association Answers Policyholder FAQs
Oct 1 2008 // In an attempt to clear-up some of the confusion regarding claim filing and what is covered by the Texas Windstorm Insurance Association, the group has issued answers to the following frequently asked questions: Question:...
