Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
S&P Lowers United Fire & Casualty’s Rating to ‘A-‘ from ‘A’
Dec 21 2006 // Standard & Poor’s Ratings Services has lowered its counterparty credit and financial strength ratings on United Fire & Casualty Co. and its wholly owned subsidiaries to ‘A-‘ from...
2006 Catastrophes Cost World’s Insurers $15 Billion, Lightest Hit in Years, Swiss Re Estimates
Dec 20 2006 //
Skyrocketing Insurance Rates Part of Gov. Bush’s Legacy
Dec 19 2006 // Earlier this year, Ginny Stevans began compiling the “book of tears” – dozens of e-mails from Floridians who are suffering because of skyrocketing property insurance rates. Stevans, president of a Pasco...
Hurricanes Provide Florida with Practice for Handling Possible Pandemic
Dec 19 2006 // Hurricanes and flu outbreaks wouldn’t seem to have much in common. But Florida officials say that if a global outbreak of influenza emerges, sickening millions, many of the lessons learned responding to storms would...
Best Affirms Montpelier Re ‘A-‘ Ratings; Raises Outlook to ‘Stable’
Dec 18 2006 // A.M. Best Co. has affirmed the financial strength rating (FSR) of A- (Excellent) and the issuer credit rating (ICR) of “a-” of Bermuda-based Montpelier Reinsurance Ltd. Concurrently, Best affirmed the ICR of...
Swiss Re Releases New <em>sigma</em> Study on Securitization
Dec 14 2006 // Swiss Re’s new sigma study – Securitizations,” also called “insurance linked securities (ILS),” notes that they “provide insurers with a financing vehicle and a means of transferring...
Best Affirms RenRe Ltd., Europe FSR Ratings; Raises Debt Ratings to ‘a+’; Outlook Positive
Dec 12 2006 // A.M. Best Co. has affirmed the financial strength ratings (FSR) of “A” (Excellent) and upgraded the issuer credit ratings (ICR) to “a+” from “a” of Renaissance Reinsurance Ltd. and...
TSR Predicts Active 2007 Atlantic Hurricane Season
Dec 11 2006 // In an early assessment Tropical Storm Risk (TSR) forecast “a return to high hurricane activity in 2007.” The London-based consortium of experts on insurance, risk management and seasonal climate forecasting led...
Experts Warn Insurance Regulators About Dangers of New Madrid Fault
Dec 11 2006 // Earthquake, insurance and building code experts from across the country today warned state insurance regulators of the catastrophic consequences when middle America experiences a replay of the 1811 and 1812 New Madrid...
Number of western businesses buying property terrorism coverage increases dramatically
Dec 11 2006 // Nearly six in 10 large and mid-sized U.S. businesses obtained insurance to cover property terrorism risks during 2005, an increase from the 2003 average of 27 percent and up from 50 percent in 2004. A report from insurance...
Can the stand-alone market withstand TRIA ending?
Dec 11 2006 // The market of last resort may soon become the only option for thousands of policyholders if the Terrorism Risk Insurance Act (TRIA) sunsets and property/casualty carriers stop offering terrorism coverage. With a recent...
8 Texas commissioner allows windstorm rate hike
Dec 10 2006 // Although welcome, some think it’s not enough 9 Louisiana’s special session Despite protests, governor calls for 10-day session 10 Judge says water may be covered in New Orleans canal case Ambiguities in...
Number of western businesses buying property terrorism coverage increases dramatically
Dec 10 2006 // Nearly six in 10 large and mid-sized U.S. businesses obtained insurance to cover property terrorism risks during 2005, an increase from the 2003 average of 27 percent and up from 50 percent in 2004. A report from insurance...
Can the stand-alone market withstand TRIA ending?
Dec 10 2006 // The market of last resort may soon become the only option for thousands of policyholders if the Terrorism Risk Insurance Act (TRIA) sunsets and property/casualty carriers stop offering terrorism coverage. With a recent...
It’s ‘haves’ vs. ‘have-nots’ in insurance technology race for survival
Dec 10 2006 // News Currents Spurred by intensifying competition, breakthroughs in analytics are transforming insurance markets, according to an industry leader. Sophisticated insurers able to harness large volumes of high-quality data...
Tornado Hits London
Dec 8 2006 // A freak tornado struck a section of northwest London on Thursday morning, Dec. 7, tearing the roofs off and causing other damage to as many as 150 homes, wrecking a number of cars and leaving six people injured....
La. Lawmakers See Little Hope for Insurance Reform
Dec 8 2006 // Louisiana lawmakers will debate changes to state insurance laws beginning Dec. 8, but several said there’s little chance of passing major initiatives to address the problems homeowners face in finding and affording...
Guy Carpenter Issues Report on Impact of Typhoon Saomai
Dec 6 2006 // Guy Carpenter & Co., the global risk and reinsurance specialist of the Marsh & McLennan Companies announced that its Instrat(R) unit has published “Typhoon Saomai: Impact and Historical...
RMS Appoints Zoback VP of Earthquake Risk Applications
Dec 6 2006 // Risk Management Solutions, Newark, Calif., announced that Mary Lou Zoback has joined the firm as vice president of earthquake risk applications. A 28-year veteran of the United States Geological Survey (USGS), Zoback is a...
Florida Program Exceeds Goal of 12,000 Free Home Inspections
Dec 5 2006 // After completing 12,000 free home inspections by the end of the 2006 hurricane season – a goal that was exceeded by nearly 1,000 inspections – the pilot phase of the My Safe Florida Home program ended last...
