Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Putting Florida’s rate filing and reinsurance controversy in context
Aug 6 2007 // Currently underway in Florida is a controversy over the amount of private reinsurance homeowners insurers should purchase in addition to the now expanded $28 billion in reinsurance available from the Florida Hurricane...
Study: Wind coverage hard to find for Gulf Coast businesses
Aug 6 2007 // As a key House committee voted to add wind coverage to the federal flood insurance program over insurers’ objections, a new study reported that many businesses along the Gulf of Mexico coast have had a difficult time...
Lloyd’s America’s Baker: Time for action on climate change is now
Aug 6 2007 // For an insurer, understanding climate change is a matter of understanding trends in risk and changes in those trends. For Wendy Baker, president of Lloyd’s Amer-ica Inc., staying on top of those trends in the United...
News Currents
Aug 6 2007 // Won’t go away from the water Survey finds one-third on coast will resist evacuation According to a new survey of people in high-risk hurricane areas, one-third (31 percent) of residents said if government officials...
News Currents
Aug 6 2007 // Study: Wind coverage hard to find for Gulf Coast businesses As a key House committee voted to add wind coverage to the federal flood insurance program over insurers’ objections, a new study reported that many...
Putting Florida’s rate filing and reinsurance controversy in context
Aug 6 2007 // Currently underway in Florida is a controversy over the amount of private reinsurance homeowners insurers should purchase in addition to the now expanded $28 billion in reinsurance available from the Florida Hurricane...
Former National Hurricane Center Director Asks for Job Back
Aug 3 2007 // The ousted director of the National Hurricane Center has asked for his job back, saying his removal was improper. Lawyers for Bill Proenza wrote in an 11-page letter that the manner and timing of his removal in July was...
House Committee Advances Bill to Extend Terrorism Reinsurance Backstop for 15 Years
Aug 2 2007 // The House Financial Services Committee voted yesterday to extend and expand the federal terrorism reinsurance law, going against the wishes of the Bush Administration. The panel voted by 49 to 20 in favor of H.R. 2761, the...
Senate Banking Panel to Hear Natural Disaster Commission Bill Today
Aug 1 2007 // A Senate Banking committee is scheduled to mark-up a bill today to establish a natural catastrophe commission to examine how best to mitigate disaster risks and deal with the after-effects of these events. The Senate...
Mich. Forest Wildfire Damages Homes, Forces Evacuations
Jul 31 2007 // A wildfire that started in eastern Michigan’s Huron National Forest and spread across 500 acres forced the evacuation of 100 residents and damaged at least three homes, police said July 30. State police Sgt. Tim...
Okla. Leads Nation in Disaster Declarations
Jul 30 2007 // A combination of ice storms, flooding rains and tornadoes have left Oklahoma atop a dubious list. So far this year, the state has most federal disaster declarations in the country. Oklahoma has received two declarations...
Fla. Gov. Opens State Response Center for Disaster Preparedness
Jul 30 2007 // Florida Gov. Charlie Crist proclaimed July 26 “Get a Plan Day” by announcing the grand opening of Florida’s State Response Center in Orlando. Crist stressed the importance of disaster preparedness by...
RAND Study: Wind Insurance Scarce on Gulf Coast; Challenge for Both Insurers, Government
Jul 27 2007 // Many businesses along the Gulf of Mexico coast have had a difficult time obtaining wind insurance coverage since Hurricanes Katrina, Rita, and Wilma hit in 2005 and have often ended up paying more than twice as much for...
The Hartford Reports 32% Increase in Net Income for 2d Quarter
Jul 27 2007 // The Hartford Financial Services Group, Inc. reported second quarter 2007 net income of $627 million, or $1.96 per diluted share, a 32 percent increase over the second quarter 2006. The Hartford’s core earnings in the...
One-Third on Coast Will Resist Evacuation, Says Harvard Survey
Jul 26 2007 // According to a new survey of people in high-risk hurricane areas, one-third (31 percent) of residents said if government officials said they had to evacuate due to a major hurricane this season, they would not leave. This...
Terror Insurance Act Moves Forward in House with Lowered Event Triggers
Jul 25 2007 // The federal Terrorism Risk Insurance Revision and Extension Act moved out of the House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises this week and on to the full House...
N.Y. City Safety Officials Reassure Public After Steam Pipe Blast
Jul 25 2007 // Although last week’s steam pipe explosion in New York City raised worries about the city’s vulnerability to attacks, law enforcement officials said this week they aren’t concerned that it might have given...
Va. Evacuation Plan Adds 300 Hurricane Gates to Highways
Jul 24 2007 // Nearly 300 new hurricane gates are being installed between Richmond and Norfolk to make it easier to evacuate people fleeing the Hampton Roads area in case of a major storm. The $5.8 million project will add the gates to...
Of wind and floods
Jul 23 2007 // Is there a place for windstorm coverage in the National Flood Insurance Program? Not according to three major trade groups representing insurance companies — they have officially taken a stand against proposals to...
Of wind and floods
Jul 23 2007 // Is there a place for windstorm coverage in the National Flood Insurance Program? Not according to three major trade groups representing insurance companies — they have officially taken a stand against proposals to...
