Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Ky. Tornadoes Render Owensboro’s Oldest Bar Unsalvageable
Oct 29 2007 // An Owensboro, Ky., bar that dates back to the end of Prohibition is being torn down after tornadoes that were part of storms that swept through western Kentucky caused irreparable damage to the structure. Martin’s...
House Leader: 120-Day Extension for Federal Terrorism Insurance Possible
Oct 29 2007 // A key House leader says he will push for a 120-day extension of the federal terrorism reinsurance program that expires at year’s end rather than simply accept the Senate bill that is narrower in scope than the House...
Analyst: Wildfire Losses Estimated To Be At Least $1.5 Billion
Oct 29 2007 // Using the latest information on current and forecast fire perimeters and observed wind speeds, catastrophe risk modeling company AIR Worldwide Corp. estimates insured losses from California wildfires will be at least 1.5...
Editor’s Note: No coasting
Oct 27 2007 // While Congress continues to debate whether to launch any sort of national disaster backup plan or add wind coverage to the federal flood program, states are coming up with some of their own ideas — big and small...
S.C. chief urges hurricane damage formula – before storms hit
Oct 27 2007 // News Currents South Carolina Insurance Director Scott Richardson is proposing a loss-allocation method that he hopes will alleviate any confusion between water damage and wind damage the next time a hurricane reduces...
News Currents
Oct 27 2007 // Despite hurricane, coastal insurance ‘road show’ goes on Agents help spread the message about necessary coverages Tropical storms and hurricanes tend to put a hitch in the most well crafted plans. Such was the...
Assessing and managing wildfire risk
Oct 27 2007 // This summer, much of the western United States was in flames. Wildfires spurred by above-normal spring and summer temperatures, and one of the worst droughts in decades charred several million acres across the 11 western...
Insurers Rebut Claims Policies Will Be Cancelled Due to Wildfires
Oct 26 2007 // Insurance industry associations in California are hoping to quell concerns stirred up they say by the media and politicians that indicate homeowners’ policies would be cancelled because of the wildfires. The...
Chubb Reports 3d Quarter Net Income Up 22%
Oct 26 2007 // The Chubb Corp. reported that net income in the third quarter of 2007 was $738 million or $1.87 per share, compared to $604 million or $1.43 per share in the third quarter of 2006. Operating income, which the company...
Fitch: Calif. Wildfires May Be Largest U.S. Wildfire Insured Loss Ever
Oct 25 2007 // Insured losses from wildfires continuing to spread in Southern California could likely become the costliest catastrophe insured loss event in 2007 and may potentially become the costliest wildfire catastrophe insured loss...
Slow, Plodding Hurricane Recovery Problems Await New La. Gov.
Oct 24 2007 // Newly elected Gov. Bobby Jindal will face a slew of hurricane recovery problems that plagued his predecessor, but Jindal isn’t charting a complete shake-up of Louisiana’s recovery efforts. Instead, Jindal, a...
Santa Ana Winds Continue to Fuel Southern California Wildfires
Oct 24 2007 // Major fires continue to burn in Southern California, in some cases fueling new fires. There are currently 15 fires burning 414,013 acres, according to the National Interagency Fire Center. The large number of separate...
Fireman’s Fund Offering Wildfire Recovery Services to Agents
Oct 24 2007 // Novato, Calif.-based Fireman’s Fund Insurance Co. announced it is offering all Southern California customers — homeowners and commercial customers — and independent agents free wildfire recovery...
AIR Worldwide Releases New Typhoon Model for China
Oct 23 2007 // AIR Worldwide Corp. (AIR) released the AIR typhoon model for China. The new probabilistic model will help insurers, reinsurers, and brokers better manage the very high typhoon risk intrinsic to one of the world’s...
Southern California’s National Banks Near Wildfires Told They Can Close
Oct 23 2007 // The federal Office of the Comptroller of the Currency today issued a proclamation allowing national bank offices affected by the wildfires in southern California to close at their discretion. In issuing the proclamation,...
Insurance Industry Assessing Calif. Wildfires, Sends in Assistance
Oct 23 2007 // Insurance industry professionals are rallying the troops, bringing in claims professionals and others to assist in battling several major wildfires burning across Southern California. On Sunday, Gov. Arnold Schwarzenegger...
Insurance Group Answers Consumer Questions Raised by Wildfires
Oct 23 2007 // After a wildfire, people usually have questions about the coverage provided by a typical homeowners or auto insurance policy. The Insurance Information Network of California offers answers to some of these basic...
Insurers Say Calif. Wildfire Claims May Reach $500 Million
Oct 23 2007 // Exclusive Video California Wildfires: Insurance Industry Assesses Impact California Wildfires: Insurers On Site at Evacuation Centers The insurance industry is estimating that the damage from the wildfires in southern...
More than 600 Southern California Homes Lost to Unchecked Wildfires
Oct 23 2007 // Hundreds of homes were reduced to ashes Monday as wildfires blown by fierce desert winds raced across a huge swath of Southern California extending from Malibu to the Mexican border, forcing a quarter of a million people...
Council says Hurricane Humberto Caused $30M in Losses in Texas
Oct 22 2007 // Officials with the Insurance Council of Texas say Hurricane Humberto, which hit the state last month, caused about $30 million in insured losses in Texas. Humberto made landfall on Sept. 13 near High Island, a coastal town...
