Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Massive Central Utah Wildfire Continues to Grow
Jul 9 2007 // A massive wildfire that has swept across two central Utah counties and closed two highways continued to grow over the weekend, officials said. So far, the Milford Flat Fire has burned an estimated 160,000 acres, or 250...
RMS Releases Report on Recent Pu’er, China Earthquake
Jul 5 2007 // A preliminary loss estimate report from Risk Management Solutions indicates that the recent earthquake that struck the Chinese province of Yunnan will cost some 1.91RMB ($250 million) in economic losses. “The...
Commerce Department to Probe Readiness of National Hurricane Center
Jul 5 2007 // The Commerce Department ordered an unscheduled review of the National Hurricane Center, whose director has publicly complained about insufficient funding but said he and his staff are well prepared to forecast...
Chertoff, Governors Appeal for Coast Residents to get Storm Ready
Jul 2 2007 // Homeland Security Secretary Michael Chertoff joined governors from Mississippi and Alabama in appealing for Gulf Coast residents to get prepared for the height of hurricane season. Some 400 delegates to the three-day...
House bill renews federal terrorism reinsurance for 10 years
Jul 2 2007 // Congress officially has a new bill to reauthorize the federal terrorism reinsurance program. Two Democrats from Massachusetts — U.S. Rep. Mike Capuano and the Chairman of the House Financial Services Committee Barney...
Builder’s risk: difficult but manageable
Jul 2 2007 // New capacity enters the market, but terms and conditions not easy for many The rest of 2007 will continue to be a difficult time for developers and builders to secure builder’s risk insurance for their projects, at...
House bill renews federal terrorism reinsurance for 10 years
Jul 2 2007 // Congress officially has a new bill to reauthorize the federal terrorism reinsurance program. Two Democrats from Massachusetts — U.S. Rep. Mike Capuano and the Chairman of the House Financial Services Committee Barney...
Builder’s risk: difficult but manageable
Jul 2 2007 // The rest of 2007 will continue to be a difficult time for developers and builders to secure builder’s risk insurance for their projects, at least in catastrophe prone regions. But outside of coastal areas and...
RMS Releases New European Earthquake Model
Jun 28 2007 // Risk Management Solutions has launched an extensive new model for earthquake risk in Europe, which it believes is the “most comprehensive model of its type.” It covers Austria, Belgium, Germany, Italy and...
La. Proposal Would Create State-chartered Bank for Hurricane Recovery
Jun 28 2007 // A Louisiana state-chartered bank would be created, touted as a way to spur private investment in the rebuilding of public infrastructure devastated by Hurricane Katrina, under a bill nearing final legislative passage. The...
Fla. Coalition: Briny Plan is Recipe for Chaotic Hurricane Evacuation
Jun 27 2007 // The Florida Coalition for Preservation has asked Secretary Thomas Pelham of the Florida Department of Community Affairs to consider a host of costs that will be borne by taxpayers if the agency accepts the...
Industry Supports Terror Bill But Not All Agree with NBCR Mandate
Jun 26 2007 // At a June 21 congressional hearing in Washington, D.C., insurance industry group representatives generally spoke in favor of a bill that would extend the federal backstop for terrorism insurance coverage for another 10...
N.H. Coast Again Experiences Minor Earthquake
Jun 25 2007 // A minor earthquake shook people on New Hampshire’s Seacoast last Wednesday night. The U.S. Geological Survey reports that the quake was centered in North Hampton. It registered as a magnitude 1.0. No damage was...
S&P: Insurance Execs Urge ‘Common Sense’ in Model Use
Jun 25 2007 // Standard & Poor’s Ratings Services’ Insurance 2007 conference, held June 3-5 in New York City, has yielded some valuable advice from three industry leaders on how to properly employ models. S&P noted...
RMS Sets Parameters for Brit’s Fremantle Sidecar
Jun 25 2007 // Risk Management Solutions has designed the trigger mechanisms and performed the risk analysis for a securitization of multi-peril, multi-event catastrophe risk relating to securities issued by Fremantle Ltd, a Cayman...
Risk Management Solutions Sets Up Multi-Peril Catastrophe Swap
Jun 25 2007 // Newark, Calif.-based Risk Management Solutions (RMS), a risk modeling company, has designed the trigger mechanisms and performed the risk analysis for a securitization of multi-peril, multi-event catastrophe...
UK’s Met Office Predicts 7-13 North Atlantic Tropical Storms
Jun 21 2007 // The Met Office, the UK’s official weather forecasting center, (http://www.metoffice.gov.uk.) has forecast 10 tropical storms in the North Atlantic during the July to November period, with a 70 percent chance of there...
Gallagher (UK), MAP Launch Israeli War & Terrorism Coverage
Jun 21 2007 // Arthur J. Gallagher (UK) Limited in conjunction with MAP, a specialist insurer at Lloyd’s, has launched an insurance facility for terrorism liability. The new product aims to provide coverage for tourist and study...
Hurricane Exit Plans for Alabama’s Elderly, Sick Upgraded
Jun 21 2007 // Some of the people whose lives are at stake during a hurricane are lying helpless in nursing homes and hospitals on the Alabama coast, where emergency computer and phone networks have been enhanced to help them when a...
Damaged Bridge on S.C. Hurricane Evacuation Route to Fully Reopen
Jun 21 2007 // A Beaufort County bridge severely damaged less then two months ago is scheduled to completely reopen this week. Only one lane of the J.E. McTeer Bridge has been open for limited hours since the steel beams under the span...
