Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Hawaii Insurance Commissioner Issues Notice of Earthquake Coverage
Oct 27 2006 // The Hawaii Department of Commerce and Consumer Affairs Insurance Division has issued a notice to residents that some relief for earthquake related losses may be available under homeowners’ policies. “As you...
AIR Sees Possible $50 Billion European Windstorm Insured Losses
Oct 26 2006 // Boston-based consultant and catastrophe risk modeler AIR Worldwide Corporation has released a new analysis of European extratropical cyclones, which confirms that Europe could experience a winter storm resulting in insured...
RMS Licenses Cat Model to Lloyd’s Beaufort Syndicate.
Oct 24 2006 // Newark, Calif.-based Risk Management Solutions (RMS), which provides products and services for the management of catastrophe risk, announced that Beaufort Underwriting Agency Ltd., on behalf of its managed syndicate MSF...
Declarations
Oct 23 2006 // Virginia flooding “I really feel for the business owners in the heart of downtown who have fought so hard to come back after Floyd in 1999.” Virginia Gov. Timothy M. Kaine in declaring a statewide emergency...
Declarations
Oct 23 2006 // Back on track “With these new appointments, the Commission is committed to a new focus for the Division of Insurance, making New Mexico a more friendly place to do insurance business, while making the industry...
News Currents
Oct 23 2006 // Damage from Hawaii’s 6.6 earthquake predicted to be widespread Officials have begun inspecting bridges and roads across Hawaii, following the strongest earthquake to rattle the islands in more than two decades, a...
Hurricane risk reduces prospective profit of homeowners insurance
Oct 23 2006 // Increases in homeowners insurance rates have not been sufficient thus far to provide an adequate return on equity on homeowners insurance, making further increases necessary, according to an analysis by Aon Re. With...
P/C insurers’ profitability drops in first-half of 2006
Oct 23 2006 // The U.S. property/casualty insurance industry’s net income after taxes fell 9.3 percent to $28.3 billion in first-half 2006 from $31.2 billion in first-half 2005 as investment results deteriorated. Reflecting the...
Fla. Honors Retiring Hurricane Forecaster Mayfield
Oct 20 2006 // Governor Jeb Bush and members of the Florida Cabinet passed a resolution this week honoring Max Mayfield’s career in public service. As director of National Oceanic and Atmospheric Administration’s (NOAA)...
Best Puts Catlin ‘Under Review;’ Group Says ‘Concerns are Unwarranted’
Oct 20 2006 // A.M. Best Co. has placed the financial strength rating (FSR) of “A” (Excellent) and issuer credit rating (ICR) of “a” of the Bermuda-based Catlin Insurance Company Limited (CICL) under review with...
Oregon Hosts Wildfire Summit Workshops in November
Oct 20 2006 // The Oregon Department of Forestry and Office of the STate Fire Marshall, in partnership with Allstate Insurance Co., is offering workshops for insurance producers on wildfires. Sessions will be held from 8:15 a.m. to 3:15...
Hawaii Damage Estimated at $73 Million, Possibly from Two Quakes
Oct 20 2006 // Maj. Gen. Robert Lee, Hawaii’s director of civil defense, said 1,173 homes on the Big Island were damaged from Sunday’s earthquake, including 29 considered uninhabitable. Preliminary damage estimates from the...
Allstate Swings to $1.16 Billion Gain in 3rd Quarter with Fewer Hurricanes
Oct 19 2006 // Northbrook, Ill.-based Allstate Corp., the second-largest U.S. personal-lines insurer behind State Farm, reported a $1.16 billion third-quarter profit Wednesday as it benefited from a quiet hurricane season. The company...
Hurricane Center Identifies 10 Most Hurricane Vulnerable Areas
Oct 18 2006 // The entire East and Gulf Coasts are subject to hurricane impacts, but some areas are much more vulnerable than others. Dr. Stephen P. Leatherman, director of the International Hurricane Research Center at Florida...
Calif. State Fund to Hold Emergency and Disaster Preparedness Seminar
Oct 18 2006 // California’s State Compensation Insurance Fund is partnering with the California Department of Health Services to offer a free seminar to policyholders and the public on October 19 in Monterey Park, Calif., that will...
Hawaii Vulnerable, but Tremor Does Not Signal More Quakes to Come
Oct 18 2006 // Another massive earthquake could strike the Hawaiian isles at any time, but last weekend’s 6.7 magnitude tremor does not signal an increase in ground-shaking activity, researchers said. Hawaii is always vulnerable to...
Ind. Protective Insurance Enters into Agreement with Paladin Catastrophe
Oct 18 2006 // Indianapolis-based Baldwin & Lyons, Inc. announced that its subsidiary, Protective Insurance Company, has entered into an agreement with newly formed Paladin Catastrophe Management to produce property catastrophe...
Inspectors Check for Damage after Hawaii’s 6.6 Magnitude Earthquake
Oct 17 2006 // Officials began inspecting bridges and roads across Hawaii yesterday, following the strongest earthquake to rattle the islands in more than two decades, a 6.6-magnitude quake that caused blackouts and landslides but no...
Maritime Terrorism Risk Extends to Cruise Ships, Ferry Boats, Study Says
Oct 16 2006 // Cruise ships and ferry boats need more protection against terrorist attacks that could kill and injure many passengers and cause serious financial losses, according to a new RAND Corporation report. “Attacks on...
Hawaii Feels 6.6 Level Earthquake
Oct 16 2006 // The island of Hawaii, Hawaii, felt temblors from a 6.7 magnitude earthquake on Sunday, according to the National Earthquake Center of the U.S. Geological Survey. According to reports shortly after the quake, there were...
