Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Sept. 11 is Reminder of Need for Terror Reinsurance, Say P/C Insurers
Sep 11 2007 // Six years after September 11, 2001, the threat of terrorist attack remains a source of tremendous uncertainty for the United States economy, with potentially negative consequences for both business interests and...
Colorado Forecaster Calls for 5 More Atlantic Hurricanes
Sep 10 2007 // Hurricane expert William Gray downgraded his 2007 Atlantic storms forecast slightly, but he still predicted above-average activity for the rest of the season, with five more hurricanes, two of them major. As Hurricane...
EQECAT, AIR Estimate Japan Typhoon Losses – Less than $1 Billion
Sep 10 2007 // Catastrophe modeling firms EQECAT and AIR Worldwide have indicated that losses from Typhoon Fitow, which came ashore on Friday, Sept. 7 in Japan’s Shizuoka prefecture, would not exceed $1 billion The storm, rated...
Gabrielle Aiming at North Carolina Coast
Sep 10 2007 // Tropical Storm Gabrielle began to shower North Carolina’s Outer Banks with rain and batter them with high winds Sunday as the storm slogged slowly toward the coast. Forecasters expected the storm to increase its wind...
Tornado-Ravaged N.D. Town Tallies $3.5M in Uninsured Losses
Sep 10 2007 // Data collected from residents in tornado-ravaged Northwood, N.D., show about $3.5 million in uninsured losses, Gov. John Hoeven’s office says. Hoeven and members of North Dakota’s congressional delegation have...
Cat Modeling Pioneer Clark Honored by Reinsurance Industry
Sep 7 2007 // Karen Clark, the founder of modern day catastrophe risk modeling, has been awarded The Review Worldwide Reinsurance Awards’ Lifetime Achievement award. The award recognizes an individual who has made the most...
Guy Carp Issues Annual Cat Report; Rates Down by 6%
Sep 6 2007 // Guy Carpenter & Company, LLC has published its annual, comprehensive study of the global property catastrophe reinsurance market – “The World Catastrophe Reinsurance Market: New Capital Stabilizes...
Industry Skeptical, While Treasury Opposes, Natural Disaster Pool
Sep 6 2007 // Federal legislation that encourages states to pool their catastrophe pool risks and then transfer them to the private market as been greeted with a lukewarm insurance industry reaction at best and outright opposition from...
Mont.’s Wildfire Funding Process Convoluted, Analysts Say
Sep 6 2007 // Montana legislative analysts agreed that more money is needed to fight fires in Montana but called the state’s current system for funding wildfire suppression “convoluted” and raised concerns about some...
Costs of Wildfires go to Montana Lawmakers
Sep 5 2007 // The speaker of the Montana House says he has no quarrel with Gov. Brian Schweitzer’s request for $55 million to pay for fighting wildfires as lawmakers convene in a special legislative session this week. But Speaker...
AIR, RMS Comment on Felix
Sep 4 2007 // Both AIR Worldwide and Risk Management Solutions have issued bulletins commenting on Hurricane Felix. Its sudden formation and rapid strengthening into a category 5 storm are virtually unprecedented. “Since 1900,...
Felix the Cat – 4 or 5
Sep 4 2007 // Hurricane Felix, which is poised to come ashore along the border of Nicaragua and Honduras later today, is a strange storm (See following article). It developed suddenly from a tropical depression on Friday, Aug. 31 into a...
Henriette Reaches Hurricane Strength; Threatens Baja Calif.
Sep 4 2007 // Felix has a little sister in the Pacific Ocean that has already caused the deaths of 8 people from landslides triggered by heavy rains near Acapulco. The storm first formed last Thursday, Aug. 30, and has been steadily...
Calif. Bill to Lower Industry Support for Earthquake Coverage
Sep 4 2007 // California homeowners who buy earthquake insurance through the state-run California Earthquake Authority (CEA) could see their premiums rise under a bill that passed an Assembly committee over opposition from the state...
House Panel to Hear Catastrophe Insurance Plan Bill on Sept. 6
Sep 4 2007 // A House subcommittee will hear testimony this week on a bill to encourage states to pool their catastrophe pool risks and then transfer them to the private mamrket. Rep. Paul E. Kanjorski, chairman of the Subcommittee on...
States, federal agencies try to keep up with wildfires
Sep 3 2007 // The National Interagency Fire Center has raised the national wildfire preparedness level to its highest degree to free up help from cooperating firefighting agencies at home and abroad in places such as Canada. Meanwhile,...
Insurance company protecting pricey Idaho homes from wildfire
Sep 3 2007 // Idaho’s Sun Valley Insurance is doing everything it can to keep claims at bay during wildfire season — including sending in a fire truck to cover million-dollar homes threatened by a wildfire outside the...
States, federal agencies try to keep up with wildfires
Sep 3 2007 // With major fires burning in more than a dozen states and officials on high alert for more, authorities are scrambling to contain the blazes and keep new ones from igniting, despite unfavorable weather and strained...
Cat modeling pioneer Clark forms consulting firm
Sep 3 2007 // Catastrophe modeling pioneer and founder of the firm AIR, Karen Clark, has formed a new firm –Karen Clark & Co. — to help companies better use catastrophe models. The Boston firm will offer consulting...
Insurance company protecting pricey Idaho homes from wildfire
Sep 3 2007 // Idaho’s Sun Valley Insurance is doing everything it can to keep claims at bay during wildfire season — including sending in a fire truck to cover million-dollar homes threatened by a wildfire outside the...
