Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
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...
Figures
Jul 23 2007 // $2.175 Billion U.S. property/casualty insurers are expected to pay homeowners and businesses an estimated $2.175 billion for second-quarter property losses resulting from six catastrophes in 25 states — tying the...
The tale of two states
Jul 23 2007 // For years the insurance industry has fought desperately to reduce or eliminate burdensome governmental regulation, insisting that competitive market forces will adequately regulate the industry. Deregulation has dominated...
Editor’s Note: 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...
News Currents
Jul 23 2007 // Wind insurance costly, scarce on Gulf Coast A study recently issued by the RAND Corporation recognizes what many businesses along the Gulf of Mexico coast have known for a couple of years now: They have had difficult time...
Calif. workers’ comp earthquake losses could exceed $150 million annually
Jul 23 2007 // California workers’ compensation insurers will need $180 million annually to pay for workers’ compensation losses induced by earthquakes, according to a recently released study by the Workers’...
The tale of two states
Jul 23 2007 // For years the insurance industry has fought desperately to reduce or eliminate burdensome governmental regulation, insisting that competitive market forces will adequately regulate the industry. Deregulation has dominated...
Editor’s Note: Of wind and floods
Jul 23 2007 // Whether or not H.R. 920 is successfully passed, it’s becoming increasingly clear that the federal government is taking notice of the problems certain areas of the country face with regard to windstorm insurance. Is...
Calif. Earthquake Authority pushes for industry assessments
Jul 23 2007 // Southbound Highway 880 traffic was routed around a damaged section of Highway 580 in Oakland, Calif., Monday, April 30, 2007. Crews sifted Monday through the wreckage of a collapsed freeway overpass, and emergency response...
