Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Biggest U.S. property cat losses in 2006 were away from coasts
Jan 29 2007 // Property casualty insurers increasingly steered clear of the water out of fear of catastrophe losses during the past year. But while they were keeping a wary eye on the coasts in 2006, and escaped relatively unscathed in...
CALIF. HOSPITALS MAY NOT MEET EARTHQUAKE SAFETY STANDARDS
Jan 29 2007 // Nearly half of California hospital buildings in danger of collapsing during a major earthquake will not meet a state deadline for safety improvements, according to a new study. Standards passed after the deadly 1994...
Agents, brokers ready to pursue ambitious legislative agenda in 2007
Jan 29 2007 // There is a new political dynamic in Congress that presents both opportunities and pitfalls. Last year, the President signed into law pension and health care reform that will greatly benefit insurance consumers. House...
Now Is No Time to Ease Up on Loss Prevention, Warns Risk Expert
Jan 29 2007 // The insurance industry and its customers must not let down their guard concerning loss prevention despite a mild hurricane season and a quiet time on the terrorism front in the U.S., advises an expert in risk and...
Fla. Pols Ready to Lead Lobbying Effort for National Catastrophe Fund
Jan 29 2007 // Now that the Florida Legislature has passed a bill that lawmakers say will address the state’s insurance problems, Gov. Charlie Crist and legislative leaders said Thursday their attention will be on pushing for a...
Agents, brokers ready to pursue ambitious legislative agenda in 2007
Jan 28 2007 // There is a new political dynamic in Congress that presents both opportunities and pitfalls. Last year, the President signed into law pension and health care reform that will greatly benefit insurance consumers. House...
Agents, brokers ready to pursue ambitious legislative agenda in 2007
Jan 28 2007 // There is a new political dynamic in Congress that presents both opportunities and pitfalls. Last year, the President signed into law pension and health care reform that will greatly benefit insurance consumers. House...
A look behind the very good P/C results for 2006
Jan 28 2007 // This is the most remarkable statistic of all. The combined ratio we estimate to be about 94 for the year. That would be the best result since 1955. News Currents The numbers, or estimates, for the property casualty...
Windstorm expected to be major insurance issue for Texas lawmakers
Jan 28 2007 // Funding for the Texas Windstorm Insurance Asso-ciation (TWIA) may not be the only insurance issue on lawmakers’ plates during the 2007 session of the Texas Legislature, but it will likely be the most high profile...
In 2006, largest P/C losses occurred inland
Jan 28 2007 // Coastal states got a relative reprieve in 2006, while inland states racked up most of the nation’s property/casualty losses for the year. According to the Insurance Services Office’s Property Claim Services...
Calif. hospitals may not meet earthquake safety standards
Jan 28 2007 // Nearly half of California hospital buildings in danger of collapsing during a major earthquake will not meet a state deadline for safety improvements, according to a new study. Standards passed after the deadly 1994...
Building Codes Worked During Hurricane Rita, Study Shows
Jan 26 2007 // A study of 9,835 reported claims on residential dwellings damaged in Hurricane Rita conducted by the Texas Windstorm Insurance Association (TWIA) shows that building codes work, the association announced. TWIA is the...
La. Gov. Criticizes Bush for No Mention of Hurricane Recovery in Speech
Jan 25 2007 // Louisiana Gov. Kathleen Blanco angrily criticized President George W. Bush on Jan. 24 for leaving out of his State of the Union speech any mention of the hurricanes that devastated Louisiana in 2005 and complained that her...
Survey: Commercial Prices Continue Declining in Non-Catastrophe Areas
Jan 24 2007 // Commercial insurance premiums continued their decline in all but catastrophe-exposed areas during the fourth quarter of 2006, with insurers willing to lower prices and place fewer restrictions on coverage to get new...
Swiss Re Backs Independent European Agency to Assess Nat Cat Risks
Jan 23 2007 // Swiss Re has issued a “focused report,” which assess the growth of the catastrophe bond market and calls for the establishment of an independent agency to “aggregate European claims data and provide the...
Fla. Lawmakers Agree on Insurance Relief Plan; Bill Sent to Gov. Crist
Jan 23 2007 // Florida homeowners could see property insurance rates cut by as much as 40 percent under a plan finalized by lawmakers hoping to reverse hurricane-fueled increases many residents say have threatened to price them out of...
Earthquake Rattles Indonesia, But No Major Destruction
Jan 23 2007 // A 7.3-magnitude earthquake rattled buildings in northeastern Indonesia Sunday, causing panicked residents to flee homes, churches and shopping malls in fear of a tsunami that never came, officials and witnesses said. A...
Study: Many California Hospitals Will Not Meet Deadline for Earthquake Safety Measures
Jan 22 2007 // Nearly half of California hospital buildings in danger of collapsing during a major earthquake will not meet a state deadline for safety improvements, according to a new study. Tough standards passed after the deadly 1994...
Biggest U.S. Property Cat Losses in 2006 Were Away From Coasts
Jan 19 2007 // Property casualty insurers increasingly steered clear of the water out of fear of catastrophe losses during the past year. But while they were keeping a wary eye on the coasts in 2006, and escaped relatively unscathed in...
AAIS Files Terrorism Loss Costs in Commercial Properties
Jan 19 2007 // The American Association of Insurance Services (AAIS) is introducing loss costs for pricing terrorism coverage in its Commercial Properties Program. A countrywide manual supplement filing, now underway, will substitute the...
