Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
A Year Later: La. Issues Updated Hurricane Katrina Insurance Figures
Aug 29 2006 // The Louisiana Department of Insurance has issued an updated statewide estimate of reported claims and insured losses paid-to-date (information as of July 31, 2006) for damage caused by Hurricane Katrina in Louisiana. This...
Texas Insurers Say They Learned Lessons from Hurricane Katrina
Aug 29 2006 // Texas insurers were thankful that Hurricane Katrina avoided the state’s coastal property, but the storm provided the industry valuable lessons in dealing with future catastrophes. Hurricane Katrina forced companies...
In Advance of Windstorm Hearing, AIA Provides Input for Texas Legislators
Aug 29 2006 // The American Insurance Association (AIA) announced it has submitted information regarding residual insurance markets and natural catastrophes to the Texas Joint Committee on Windstorm Coverage and Budgetary Impact for its...
Texas Agent Group Urges Lawmakers to Address Windstorm Problems
Aug 29 2006 // At its Board of Directors meeting in Austin on Aug. 25 and 26, the Texas Insurance Professionals (PIA Texas) discussed the current situation facing the Texas insurance market as it relates to the Texas Windstorm Insurance...
Risk Management Solutions Analyzes Calif. Wildfire Data
Aug 28 2006 // Risk Management Solutions, Newark, Calif., has applied its RMS Wildfire Hazard Data to analyze recent fires that have burned almost twice as much area as the five-year average for the same time period. The RMS data was...
UPDATE 1: Hurricane Ernesto Menaces Haiti, Cuba; Florida in Storm’s Path
Aug 27 2006 // As of 11:00 am EDT, when the National Hurricane Center in Miami issued its latest bulletin, Tropical Storm Ernesto had become a Category 1 hurricane, the first of the current season. The hurricane’s center was...
FARA Launches Property Services Division for Non-Catastrophe Claims
Aug 27 2006 // Mandeville, La.-based FARA announced the creation of its latest division, FARA Property Services. The company’s newest operation will manage non-catastrophe claims in connection with FARA Catastrophe Services Inc....
Florida Declares State of Emergency in Response to Ernesto Threat
Aug 27 2006 // As of 11 a.m. EDT, Tropical Storm Ernesto was moving over eastern Cuba bringing heavy rains, floods and mudslides, according to the National Hurricane Center. A hurricane watch has been extended along Florida’s...
National Hurricane Center Chief Mayfield to Retire
Aug 27 2006 // Max Mayfield, long-time director of the National Hurricane Center in Miami, Fla., will retire at the end of the year after 34 years of federal service. Mayfield said he wishes to spend more time with his wife and family,...
Reinsurers Tell Fla. Panel Rate Freedom Key to Insurance Fix
Aug 27 2006 // The basic solution to Florida’s hurricane insurance crisis is for consumers to pay more, despite double-digit increases already levied over two years, insurance officials said Thursday, the anniversary of Hurricane...
TS Ernesto Threatens Gulf; Could Become Season’s First Hurricane
Aug 26 2006 // Miami’s National Hurricane Center is currently tracking Tropical Storm Ernesto as it enters the Gulf of Mexico. As of 11:00 a.m. EDT the storm’s center was located near latitude 15.1 north/longitude 71.2 west...
6 in 10 Business Now Buying Terror Coverage, Marsh Reports
Aug 25 2006 // Nearly six in 10 large and mid-sized U.S. businesses obtained insurance to cover property terrorism risks during 2005, a dramatic increase from the 2003 average of 27 percent and up from 50 percent in 2004. Meanwhile, the...
Tornadoes Hit Northern Ind., Minn., Causing Damage and One Death
Aug 25 2006 // Severe thunderstorms and tornadoes swept off Lake Michigan Wednesday evening, downing trees and power lines and causing some injuries in Indiana and killing one resident in Minnesota. In LaPorte County, Ind., 911 Assistant...
Washington Governor Declares Wildfire Emergency
Aug 25 2006 // Washington Gov. Chris Gregoire declared a statewide wildfire emergency as several large fires burned in the state and forecasters predicted more thunderstorms and high winds. “Numerous wildfires across Washington...
Best Affirms Swiss Re, GEIS, GE Frankona Ratings; Off Review
Aug 24 2006 // A.M. Best Co. has affirmed the financial strength rating (FSR) of “A+” (Superior) and the issuer credit rating (ICR) of “aa” of Swiss Reinsurance Company and its rated subsidiaries. Best also...
Coalition Says Insurer Group’s Disaster Plan is Insufficient
Aug 22 2006 // With the first anniversary of Hurricane Katrina one week away, the American Insurance Association (AIA) has unveiled a National Catastrophe Agenda designed to reinforce resilience to catastrophic hurricanes. But not...
Trial Attorneys Claim Insurers Putting Profits Over People in Katrina’s Wake
Aug 22 2006 // One year after Hurricane Katrina swept across the Gulf Coast, the Academy of Florida Trial Lawyers (AFTL) and the Association of Trial Lawyers of America (ATLA) are launching a national petition drive calling on insurance...
A Year Later, Insurers Report 95% of Katrina Claims in La. and Miss. Settled
Aug 22 2006 // One year after Hurricane Katrina, the insurance industry says that nearly 95 percent of homeowners insurance claims have been settled in Louisiana and Mississippi, insurance companies have paid billions in storm damage...
Insurers: Trial Bar Short on Facts in Katrina Charges
Aug 22 2006 // Trial attorneys’ charges that the insurance industry is putting profits over people in the handling of claims from Hurricane Katrina are being dismissed by industry trade groups. The Florida Insurance Council (FIC),...
Texas AG Says Hotel and Owner Exploited Hurricane Evacuees
Aug 21 2006 // Texas Attorney General Greg Abbott announced he has sued an economy motel operator for charging exorbitant rates to evacuees fleeing Hurricane Rita in September 2005. The suit alleges the Lone Star Motel in Waco, Texas,...
