Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Restoration work continues after Florida tornadoes
Mar 26 2007 // 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 Emergency Response Team. The groundhogs in Sumter,...
The Commissioners: John Morrison
Mar 26 2007 // Montana fights for uninsured, seeks catastrophe fund and captives The hallmarks of John Morrison’s legacy as Montana State Auditor, the Commissioner of Insurance and Securities, is to help provide more affordable...
Scientists Disagree Over Hazard Posed by New Madrid Earthquake Fault
Mar 23 2007 // Scientists have struggled for years to figure out when the next big earthquake might strike the central United States. Now a geologist from Northwestern University believes he has evidence that the New Madrid Fault –...
TSR Updates Hurricane Forecast
Mar 21 2007 // The UK-based Tropical Storm Risk (TSR) weather forecaster has issued a revised assessment of the upcoming Atlantic hurricane season, which indicates that it will be a more active season than previously expected. TSR, which...
Insurer Delivers First Check to Aid Tornado-Stricken Ala. Town
Mar 21 2007 // Representatives from a Boston-based insurance company personally presented a $2 million check to Gov. Bob Riley and Enterprise city officials as the first installment toward the coverage of two Enterprise schools damaged...
Kentucky Competes for Captives, Follows Workers’ Comp Closely
Mar 20 2007 // With “firm but flexible regulation” in place, Kentucky Insurance Commissioner Julie Mix McPeak says her state is an attractive draw for the captive insurance market and she hopes to encourage continued broad...
Fla. Catastrophe Fund Changes Prompt Citizens Refunds
Mar 19 2007 // Rate decreases and in some cases, refunds, are on the way for almost 1.2 million Florida policyholders insured by Citizens Property Insurance Corp. The reduced rates are the result of expanded access to coverage from the...
Orlando Attorney Elected President of Windstorm Insurance Group
Mar 19 2007 // Attorney Janice A. Kelly was recently elected as the 2007- 2008 president of the Windstorm Insurance Network, Inc., a non-profit organization comprised of almost 1,000 individuals and groups interested in windstorm-related...
Hurricane Chief Voices Concerns About Forecasts from Aging Satellite
Mar 19 2007 // Certain hurricane forecasts could become less accurate if a key weather satellite that is already beyond its expected life span fails, the nation’s new top forecaster said. The change would mean placing longer...
Study Reveals Potential for $100 Billion Earthquake Loss in Beijing, China
Mar 16 2007 // Risk Management Solutions (RMS) announced the preliminary results of a study analyzing the impacts of the 1679 Sanhe-Pinggu Earthquake based on the 2007 population and property exposures of the Beijing, China area. The...
Washington Warming to National Disaster Plan Idea
Mar 16 2007 // A proposal for a national disaster plan to backup private hurricane and flood insurance markets appears to be gaining momentum in Washington. This week, Rep. Barney Frank, D-Mass., chairman of the House Financial Services...
Mich. Catastrophic Fund Assessment to Decrease
Mar 15 2007 // An assessment paid by auto insurance carriers to cover catastrophic injuries resulting from auto crashes will decrease on July 1. The Michigan Catastrophic Claims Association (MCCA) assessment, which covers costs for...
EPA Allows Demolition of 1,200 Hurricane-Damaged Homes in Miss.
Mar 15 2007 // About 1,200 hurricane-damaged homes in south Mississippi can be torn down under rules that have been extended by the Environmental Protection Agency. The EPA’s No Action Assurance program runs until Sept. 30 for...
La.’s Citizens Agrees to Mass Settlement of Hurricane Suits
Mar 12 2007 // Louisiana’s state-run insurer has agreed to a mass settlement with more than 100 policyholders, a deal believed to be the first of its kind in the state since hurricanes Katrina and Rita spawned thousands of...
Dodd Blasts Insurance Industry Response to Hurricanes
Mar 12 2007 // U.S. Sen. Chris Dodd, a Democratic presidential hopeful, said he’s angry with the insurance industry’s response to the 2005 Gulf Coast hurricanes and said Mar. 9 he will hold senate committee hearings on...
News Currents
Mar 12 2007 // Chicago Exchange, Carvill ready hurricane futures for insurers The Chicago Mercantile Exchange, the largest derivatives exchange in the United States, recently announced that it is launching contracts that will allow...
N.Y. City, other U.S. centers need federal terrorism insurance to compete globally, says Supt. Dinallo
Mar 12 2007 // A continuing federal role in terrorism insurance is important so that U.S. financial centers including New York City can continue to compete with international markets, many of which are already covered by similar...
Industry gears up for more federal terrorism insurance debates
Mar 12 2007 // Advocates say the coverage still vital to national security and a long-term solution is needed Insurance industry advocates urged Congress yet again to continue with a federal government role in terrorism risk insurance...
Caribbean nations establish joint disaster insurance pool
Mar 12 2007 // Caribbean countries joined by outside donors and international and regional organizations established a $47 million insurance pool to soften the blow from earthquakes and hurricanes. Called the Caribbean Catastrophe Risk...
Number of catastrophe-related laws enacted rose significantly in 2006
Mar 12 2007 // State lawmakers ready to exceed or outpace last year’s total Enacted catastrophe-related laws increased dramatically in the states last year, according to the annual survey of state insurance laws prepared by an...
