Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
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...
Fla. Gubernatorial Candidates Offer Hurricane Fund Proposals
Oct 12 2006 // If he is elected governor, Florida homeowners would see lower property insurance rates as soon as next year and a guarantee of at least partial coverage by the state, Democratic gubernatorial nominee Jim Davis said this...
Hurricane Risk Reduces Prospective Profit of Homeowners Insurance
Oct 11 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, the...
Resource Constraints Hinder Risk Managers From Preparing For Catastrophes
Oct 10 2006 // Time and resource constraints are hindering risk managers’ efforts to help their organizations prepare for catastrophes, such as power outages, avian flu or extreme weather, according to the latest Economist...
Insurance damage price tag on New Mexico hailstorm tops $10 million
Oct 9 2006 // More than 2,200 auto claims and approximately 950 homeowner claims have been filed due to a hailstorm in southern New Mexico, an insurance industry association said. Pea to golf ball sized-hailstones battered Las Cruces,...
Hawaii to teach homeowners about hurricane retrofits
Oct 9 2006 // Hawaii’s Department of Commerce and Consumer Affairs’ Insurance Division has created a new Web site: www.hurricaneretrofits.hawaii.gov, which details the State’s Loss Mitigation Grant Program for Hawaii...
Finding a solution to natural disaster insurance
Oct 9 2006 // In 2005, our country faced several devastating and record-setting natural disasters that left the lives of many Americans in ruins, and roiled the insurance marketplace and the nation’s overall economy. Estimates for...
Terrorism insurance market hits federal radar
Oct 9 2006 // Two new federal reports have found that the long-term development of the private terrorism insurance market remains at best uncertain due to the unpredictable nature of terrorist attacks. Both reports acknowledged that a...
Finding a solution to natural disaster insurance
Oct 9 2006 // In 2005, our country faced several devastating and record-setting natural disasters that left the lives of many Americans in ruins, and roiled the insurance marketplace and the nation’s overall economy. Estimates for...
Insurance damage price tag on New Mexico hailstorm tops $10 million
Oct 9 2006 // More than 2,200 auto claims and approximately 950 homeowner claims have been filed due to a hailstorm in southern New Mexico, an insurance industry association said. Pea to golf ball sized-hailstones battered Las Cruces,...
