Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Typhoon Chanchu Hits China Coast
May 18 2006 // Typhoon Chanchu came ashore on the Southern coast of the Chinese mainland early this morning, May 18, local time. The powerful storm, packing winds in excess of 100 mph (168 kph), has reportedly caused 11 deaths and...
A.M. Best Details Catastrophe Stress Test Criteria
May 18 2006 // A.M. Best Co. has published an outline of the criteria it looks for when evaluating the strength of an insurance company’s catastrophe risk management. Last month, A.M. Best hosted a conference call on the recent...
Insurance Economist Predicts Profitable 2006, Sees Premium Growth Grinding to a Halt
May 18 2006 // The last 24 months have been traumatic for the insurance industry, but the profit picture for 2006 is quite good overall, according to Robert P. Hartwig, Insurance Information Institute senior vice president and chief...
Florida Certifies Hurricane Model for the Tenth Consecutive Year
May 17 2006 // The Florida Commission on Hurricane Loss Projection Methodology has certified AIR Worldwide Corp.’s 2006 Hurricane Model. This marks the tenth consecutive year that AIR has met the rigorous standards of the...
Tropical Depression: Hurricane Linked to Long-Term Mental Distress
May 17 2006 // Florida State University sociologists in Tallahassee have found that some South Floridians who survived 1992’s Hurricane Andrew suffered mental health problems many years later, a finding that has led the researchers...
La. Bill Would Extend Time to File Hurricane Insurance Lawsuits
May 17 2006 // Addressing a looming insurance deadline that could affect thousands of homeowners and businesses, the Louisiana House of Representatives passed a bill to give insurance claimants an extra year to file a lawsuit over...
Complaints Lead to Probe of La. Insurers’ Hurricane Claims Handling
May 17 2006 // Lousiana Commissioner of Insurance Jim Donelon announced the Department of Insurance is set to begin market conduct examinations on two insurers, Allstate and St. Paul/Travelers. Donelon said he ordered the exams in...
China’s P&C Insurer Licenses AIR’s Quake Cat Models
May 17 2006 // Boston-based AIR Worldwide Corporation announced that China’s PICC Property and Casualty Company Limited has licensed CLASIC/2™ and CATRADER®, AIR’s catastrophe risk management systems, to manage the...
Fla. Hurricane Commission Reviews, Re-Certifies Residential Model
May 17 2006 // The Florida Commission on Hurricane Loss Projection Methodology has re-certified the Risk Management Solutions Hurricane model for use in establishing residential insurance rates in Florida. This year’s review...
RMS Partners With China Earthquake Administration’s Institute of Engineering Mechanics to Develop China Earthquake Risk
May 16 2006 // Newark, Calif.-based Risk Management Solutions (RMS) has formed a partnership with the China Earthquake Administration scientific and engineering arm, the Institute of Engineering Mechanics (IEM). “This partnership...
AccuWeather Predicts Six Hurricanes Will Make Landfall
May 16 2006 // The AccuWeather.com Hurricane Center in State College, Pa. led by Chief Forecaster Joe Bastardi, has released its 2006 hurricane season forecast. An active hurricane season appears imminent, which could have major...
Citizens Property Insurance Increases Upset Policyholders in Florida
May 15 2006 // Marci L. Rose’s home and rental properties in Key West, Fla. escaped serious damage when hurricanes battered the state in 2004 and 2005, but she might lose them anyway. Like thousands of Floridians, the real estate...
Royal Palm to Offer Coverage to Allstate Floridian Customers
May 15 2006 // St. Petersburg, Fla.-based Allstate Floridian has reached an agreement with Royal Palm Insurance Co., a new property insurer in the state, to offer Allstate Floridian customers and Florida consumers property insurance...
Texas Regulators Urge Coastal Residents to Review Insurance Coverages
May 12 2006 // As hurricane season approaches, officials at the Texas Department of Insurance are reminding all Gulf Coast home and business owners that it is important to periodically review their insurance policies to ensure that...
Three Dead in North Texas Tornado
May 11 2006 // Late-night tornadoes swept through rural North Texas on May 9, killing three people, hospitalizing 10 and reducing homes to bare concrete slabs, officials said. An elderly couple were found dead in a destroyed home in the...
White Paper Cautions Reliance on Near-term View of Hurricane Risk
May 10 2006 // AIR Worldwide Analysis Concludes That Significant Uncertainty AIR Worldwide Corporation (AIR) issued a white paper that reviews the current state of research on climatological impacts on hurricane activity and explains the...
La. Senate Approves Bill Extending Hurricane Claims Deadline
May 10 2006 // The Louisiana Senate approved a bill that would extend the deadline for victims of Hurricanes Katrina and Rita to file claims with their insurance companies. Sen. Julie Quinn’s bill would give policyholders through...
Despite Hurricane Losses, Soft Insurance Market Continues
May 9 2006 // Although property & general liability insurance rates increased in the first quarter of 2006, all indications point to a continuing soft commercial insurance market according to the Risk and Insurance Management...
Marinas Slowly Make Comeback in Hurricane-hit La.
May 9 2006 // A growing number of marina owners and operators in southern Louisiana have scraped together whatever resources they can find to reopen their businesses. In a recent summary of the state’s fishing infrastructure, 80...
Agents Learn U.S. Insurers Withstood Record Catastrophe Losses with Strong Capitalization, Sound Risk Management
May 9 2006 // Strong capitalization, sound risk management and efficient global risk sharing enabled the U.S. property/casualty insurance industry to withstand record-setting catastrophe losses in 2005, but the industry also should keep...
