Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
National Cat Fund Gains Congressional Support … But Is It Enough?
May 30 2007 // Unlike Florida’s Capitol in Tallahassee, where lawmakers have taken a number of actions to address the state’s insurance crisis with arguable results, solutions at the federal level have been hard to come...
Greenberg: TRIA Necessary But National Disaster Insurance Plan Isn’t
May 30 2007 // Exclusive Video Interview Greenberg Interview, Take 5: Product Innovation; TRIA; Cat Plan The nation needs the federal government to backup the private terrorism insurance market but does not need similar government...
U.S. Oil Industry Preps for Gulf Storm Season
May 30 2007 // If you think gasoline prices are high now, consider the eye-popping possibilities if another monster storm pummels the Gulf of Mexico this hurricane season, the way Katrina and Rita battered the petroleum-rich waters in...
Earthquake Rumbles Southeast Okla.
May 30 2007 // A small earthquake and two aftershocks rumbled parts of Pittsburg County, Okla., on Sunday, May 27, the Oklahoma Geological Survey reported. The earthquake happened about 4 p.m. and measured 3.2 on the Richter scale, said...
S.C. Gov. Sanford: Locals, Not Feds, Must Control Hurricane Response
May 29 2007 // South Carolina Gov. Mark Sanford repeated calls last week for state and local officials, not the federal government, to retain control during hurricane response efforts. The Republican governor said the lack of preparation...
Utilities, Insurers Say They’re Better Prepared for Hurricane Season
May 29 2007 // Forecasts for a busier-than-normal hurricane season mean added pressure on the utility and insurance industries, but they say they’re more prepared to absorb a catastrophic hit. Power utilities have invested in...
R.I. House Members to Introduce Hurricane Insurance Bills
May 29 2007 // The leaders of a special Rhode Island House commission studying the effects of natural disasters on property insurance costs plan to introduce legislation next week on insurance practices connected to hurricane...
Insurer Helps Develop Hurricane Plan for Newport’s Picturesque Mansions
May 25 2007 // Perched on the picturesque Rhode Island coastline, the 11 Newport Mansions are a national treasure. Once a summer getaway for the country’s wealthiest industrialists, today the historic mansions are a tourist...
Citizens Approves Liquidity Plan for 2007 Fla. Hurricane Season
May 25 2007 // Citizens Property Insurance Corp. board of governors approved a $1.95 billion financing plan that includes a letter of credit and bond sales to cover future hurricane losses in Florida. “A great deal has been...
Detailed Database of Global Terrorism Attacks Now Available Online
May 25 2007 // What researchers say is the world’s largest unclassified database of terrorism attacks is now available online for general use by researchers, policy-makers, media and the general public. The Global Terrorism...
Ala.: Sumter County Wildfire Apparent Arson
May 25 2007 // A wildfire apparently intentionally set scorched more than 700 acres in a remote area of Sumter County and sent heavy smoke over Alabama Highway 17, forcing an overnight traffic detour. Firefighters battled the flames for...
Fla. Plaintiffs Settle with State Farm on Hurricane Damaged Screen Enclosures
May 25 2007 // A Broward County Court has approved a class action settlement on behalf of more than 12,000 State Farm Insurance policyholders in Florida who will receive 100 percent of the damages they requested in a $6.8 million...
Study: Homeowners Could Save $11.6 Billion with Catastrophe Protections
May 24 2007 // American homeowners could save $11.6 billion annually if private funded catastrophe programs were enacted in disaster-prone states and backed by a similar national program, according to Milliman Inc., an actuarial and...
Easley: N.C. National Guard Could Handle Category 3 Hurricane
May 24 2007 // Gov. Mike Easley said he is comfortable the state could respond to a major hurricane strike, even though he has complained often that the demands of the Iraq War has left the North Carolina National Guard stretched too...
Gov. Proclaims Hurricane Preparedness Week in North Carolina
May 23 2007 // Gov. Mike Easley has proclaimed May 20-26 as “Hurricane Preparedness Week” and urged all citizens to prepare for this year’s predicted increase in storm activity by assembling disaster preparedness kits...
NOAA Predicts Busier-Than-Average East, Gulf Coast Hurricane Season
May 23 2007 // U.S. weather officials are the latest to predict above average hurricane activity for the Atlantic states this coming hurricane season that begins June 1. Experts at the National Oceanic and Atmospheric Administration...
RMS Parametric Model for Japan Typhoon Risk Securitization
May 23 2007 // Risk Management Solutions has designed the trigger mechanism and performed the risk analysis for a parametric securitization of typhoon risk in Japan. Issued by Akibare Ltd., a Cayman Islands special purpose vehicle (SPV),...
S&P Report Says Insurers’ Climate Change Concerns are Real
May 23 2007 // A new report from Standard & Poor’s Ratings Services – “Insurers Seek To Weather Changes In The Weather” – stresses that for the insurance industry, “climate’s impact...
Ga. Gov. Releases $7 Million to Fight Southeast Georgia Wildfires
May 22 2007 // Gov. Sonny Perdue issued an executive order that allocates $7 million in unspent state funds to fight the wildfires in southeast Georgia. The fires have burned over 130,000 acres in Georgia. “These additional funds...
Officials Plan for Fewer Hurricane Hunter Flights this Season
May 22 2007 // Although forecasters predict an active hurricane season, federal officials said crews will fly fewer hurricane hunter flights from the MacDill Air Force Base in Tampa, Fla.. Officials hope that reducing flights will make...
