Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Industry Reports Progress on Terrorism Risk Modeling But Challenges Remain
Apr 5 2007 // Sophisticated catastrophe models are greatly aiding commercial insurance actuaries in establishing underwriting and pricing guidelines for terrorist attacks, according to industry experts at this week’s Casualty...
Forecasters Warn of Very Active Hurricane Season Ahead in 2007
Apr 3 2007 // Atmospheric science experts at Colorado State University have increased their forecast for the 2007 hurricane season, largely due to the rapid dissipation of El Niño conditions. The Colorado team is now calling for a very...
Tsunami Strikes Solomon Islands; 12 Reported Dead
Apr 2 2007 // Early this morning, local time) a strong undersea earthquake – estimated at 8.0 – caused a tsunami with waves up to three meters (app. 10 feet) in height. They came ashore shortly after the quake on the island...
Aon Re Global Study Finds Reinsurance Rates ‘Flat to Lower’
Apr 2 2007 // Aon Re Global’s analysis of reinsurance rates found premiums for “personal lines, standard commercial lines and complex commercial lines,” are “likely to be flat to lower during mid-year renewals of...
RMS Defends ‘Near Term’ Hurricane Model, Denies Collusion
Mar 30 2007 // In the wake of a flurry of critical comments made by consumer activist groups aimed at the methodology Risk Management Solutions employed to establish “near term” hurricane models, RMS’s public policy...
Tornadoes Kill 2 people in Oklahoma, 1 in Colo.
Mar 30 2007 // An early spring storm swept across the central U.S. early on March 29, spinning off tornadoes that killed an Oklahoma couple in a home that was blown to pieces and a Colorado woman whose small town was nearly destroyed. A...
Firm Releases Study of Possible La. ‘Catastrophe Fund’
Mar 30 2007 // A private firm has released its study of how Louisiana would operate a “catastrophe fund,” one of several ideas lawmakers are considering to help ease the state’s property insurance crisis. The study...
Fla. Considers Storm Supply Tax Break, New Claims Law Glitch
Mar 30 2007 // Flashlights, radios, tarps and other hurricane supplies would be tax free for 12 days at the beginning of hurricane season, under a measure the Florida House has under consideration. Floridians received a similar tax break...
‘Near Term’ Hurricane Models Used by Insurers Under Fire
Mar 29 2007 // Recent “near term” hurricane prediction models based on five-year forecasts are being skewered by consumer groups urging state regulators to reject them as a basis for hiking coastal property insurance...
Officials Laud New Japanese Quake Alert System
Mar 29 2007 // Authorities hailed Japan’s new earthquake alert system as a success this week after it allowed officials to issue a tsunami warning just one minute after a magnitude 6.9 quake jolted the country’s coast a day...
Fla. Commissioner Testifies for States on National Disaster Insurance
Mar 28 2007 // Speaking on behalf of the National Association of Insurance Commissioners, Florida Insurance Commissioner Kevin McCarty testified before a key subcommittee of the U.S. House of Representatives on the role of insurance in...
Let Private Markets Handle Most Disasters, Insurers Advise Congress
Mar 28 2007 // The best way for the federal government to help property owners recover from a natural disaster is to let private insurers do what they know, except in the case of a megadisaster, when federal aid would be needed. That was...
Insurers Reject Critics Who Say Big Profits Are at Claimants’ Expense
Mar 28 2007 // The headline numbers were eye-popping: Allstate reported a record $5 billion profit for 2006. State Farm Insurance’s profit climbed 65 percent for the year. St. Paul Travelers’ earnings rose sixfold in the...
First Responders, Businesses Tell Congress U.S. Needs Disaster Plan
Mar 27 2007 // A coalition of first responders, emergency management experts, businesses and insurers told Congress that America needs a comprehensive public-private, federal-state partnership to protect against a massive hurricane or...
News Currents
Mar 26 2007 // Restoration work continues after Florida tornadoes With the final death toll standing at 20, the tornadoes that slammed central Florida on Feb. 2 have been dubbed “Ground-Hog Day Tornadoes” by The Florida State...
Swiss Re sigma study details 2006 natural, man-made disasters
Mar 26 2007 // in its just released sigma study, “Natural catastrophes and man-made disasters in 2006”, Swiss Re notes that “losses due to natural catastrophes and man-made disasters were below the long-term trend in...
Washington warming to national disaster plan idea
Mar 26 2007 // Sen. Dodd says hurricane and flood disasters are not just a local issue, but a national one A proposal for a national disaster plan to backup private hurricane and flood insurance markets appears to be gaining momentum in...
Powerful Earthquake Rocks Japan; 1 Dead, 170 Injured
Mar 26 2007 // A powerful earthquake struck Japan on Sunday, killing at least one person and injuring 170 others as it damaged buildings and triggered a small tsunami along the coast, officials said. The magnitude-6.9 quake struck at...
Swiss Re sigma study details 2006 natural, man-made disasters
Mar 26 2007 // In its just released sigma study, “Natural catastrophes and man-made disasters in 2006”, Swiss Re notes that “losses due to natural catastrophes and man-made disasters were below the long-term trend in...
News Currents
Mar 26 2007 // Washington warming to national disaster plan idea Sen. Dodd says hurricane and flood disasters are not just a local issue, but a national one A proposal for a national disaster plan to backup private hurricane and flood...
