Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Mike Geeslin, Texas, Texas Insurance Commissioner
Feb 11 2007 // It could be said the first year of Mike Geeslin’s term as Texas Insurance Commissioner was one of “trial by fire.” Gov. Rick Perry appointed Geeslin to the post in June 2005, just months before Hurricanes...
Commercial clients ‘swallow a bitter pill’ when it comes to cat coverage
Feb 11 2007 // When it comes to property catastrophe insurance coverage, many commercial clients are being forced to swallow a bitter pill in the form of steep prices, new limits on policies, higher deductibles and a shortage in the...
News Currents
Feb 11 2007 // Study shows Texas economy vulnerable to Cat 3-sized coastal storm A study commissioned by the Independent Insurance Agents of Texas (IIAT) shows that the economy of the entire state of Texas would be severely impacted if a...
8 Feds, Corps not immune in La. flood suit
Feb 11 2007 // Judge refuses to dismiss case 10 Texas economy vulnerable to massive coastal storm Study shows how whole state could be affected N1 Forecast predicts slower premium growth in 2007 and 2008 Underwriting profits expected but...
Lessons learned from 2005’s Katrina and 2006’s calm hurricane season
Feb 11 2007 // It’s been more than a year since Katrina made landfill and businesses are still recovering. Then the 2006 Atlantic hurricane season came and went with barely a blip — despite initial projections by some that...
8 Calif. to examine broker disclosure, workers’ comp reform
Feb 11 2007 // Commissioner wants to fine-tune system to protect consumers 8 Agents, brokers set sight on political involvement Meeting with legislators helps them relate to insurance issues 9 West has highest number of...
Forecasters predict active hurricane season to come in 2007
Feb 11 2007 // A return to high hurricane activity in 2007 is likely following the below-average 2006 hurricane season, according to the consortium of experts on insurance, risk management and seasonal climate forecasting led by the...
Industry forecast predicts slower premium growth in 2007 and 2008
Feb 11 2007 // News Currents Most insurance industry analysts predict slower P/C premium growth for 2007, according to an Insurance Information Institute’s annual survey of Wall Street stock analysts and industry professionals...
Mitigating the everyday catastrophe
Feb 11 2007 // The exposures faced by businesses in catastrophe-prone areas have been well-documented post-Katrina and facility owners and managers have responded by focusing mitigation efforts on these high priority risks. But what they...
Top 10 tornado cities
Feb 11 2007 // The violent thunderstorms in Central Florida in early February, spawned powerful tornadoes that killed at least 20 people is a deadly reminder of the constant threat insurers face against tornado exposures. Tornado-related...
P/C industry may be long overdue for massive losses from an extreme “great” earthquake
Feb 11 2007 // The U.S. property/casualty insurance industry is long overdue for heavy losses from a massive earthquake, reports A.M. Best in its recent “2006 Annual Earthquake Study.” It is likely that if an earthquake of...
Lloyd’s climbs on the climate change bandwagon
Feb 11 2007 // There’s little doubt that the world is getting warmer. But this raises more questions. To what extent are greenhouse gasses, particularly CO2, responsible? Will the warming trend continue? Are there any effective...
S&P Puts Eurus Notes on CreditWatch/Negative after Windstorm
Feb 9 2007 // Standard & Poor’s Ratings Services has placed a CreditWatch with negative implications on its “BB” rating on the $150 million principal at-risk variable-rate notes issued by Eurus Ltd. “The...
Agents Welcome Windstorm Debate; Insurers Warn Against Subsidies
Feb 9 2007 // The Independent Insurance Agents & Brokers of America (the Big “I”) says the debate over windstorm coverage is crucial for consumers and independent agents and brokers in many regions throughout the...
Kent Wholesale Offers DIC Earthquake and Flood Coverage
Feb 9 2007 // Kent Wholesale Insurance Brokers headquartered in Portland, Ore., is providing DIC including earthquake and flood coverage on admitted paper for Oregon and Washington risks. The product is rated in-house, and indications...
Fla.: Citizens Tornado Claims Payments Top $500,000
Feb 8 2007 // Citizens Property Insurance Corp. paid out more than $520,000 in claims payments to policyholders affected by the Feb. 2 storms according to a company official. “We’ve paid $521,951 in damage claims and have...
La. Officials Urge Federal Role in Hurricane Insurance
Feb 8 2007 // Louisiana state senators say they will ask Congress to have the federal government insure homes against hurricane damage, as it does for floods. “Y’all won’t sell it, so why not get the federal government...
Fla. Gov. Crist Visits Citizens Catastrophe Response Center; Claims Count Rising
Feb 7 2007 // Gov. Charlie Crist talked with Citizens Property Insurance Corporation catastrophe response employees Tuesday at one of four Emergency Operations Centers serving Central Florida residents affected by tornadoes and high...
RenaissanceRe Reports Record 2006 Net Income of $761.6 Million
Feb 7 2007 // Bermuda’s RenaissanceRe Holdings Ltd. bounced back strongly from last year’s catastrophes to post net income for 2006 of $761.635 million, compared to a $281.3 million loss in 2005. Operating income for the...
Fla. Commissioner Prohibits Cancellation of Tornado Victims’ Policies
Feb 7 2007 // Florida Insurance Commissioner Kevin McCarty issued an emergency order prohibiting insurance companies from canceling personal lines insurance policies for residents affected by last week’s tornadoes in central...
