Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Fla. Forum Topic: Disappearing Markets, Looming Hurricanes
Mar 14 2006 // Challenges like disappearing markets, looming hurricanes and the quest to add more to the bottom line will all be addressed during a Professional Insurance Agents of Florida Member Forum on May 12 in Orlando at the Caribe...
Hurricane-related Jobless Benefits Extended in La.
Mar 13 2006 // President Bush has authorized the extension of disaster unemployment benefits to individuals affected by hurricanes Katrina and Rita, the Louisiana Department of Labor announced. “Approximately 92,000 people whose...
100 Tornadoes Hit Midwest, Damage, Injury Totals Still Being Assessed
Mar 13 2006 // Heavy windstorms and tornadoes hit the Midwest yesterday causing major damage in five states. Illinois, Indiana, Missouri, Kansas and Oklahoma were ravaged by high winds, rain and hail in addition to tornadoes. Several...
N.C. Committee Petitioned to Strengthen Building Codes
Mar 8 2006 // Tougher building code standards aimed at reducing future hurricane damage in North Carolina have been forwarded to a state committee studying disaster management by Insurance Commissioner Jim Long. Long petitioned the...
Insurers’ Photography Tells Story of ’06 San Francisco Quake
Mar 7 2006 // Finding old photographs to mark the centennial of California’s 1906 “Great Quake” and fire was the easy part of Corey Keller’s job as an assistant curator at the San Francisco Museum of Modern...
Preparing for the worst
Mar 6 2006 // According to a new report released by GE Insurance Solutions, massive growth along the nation’s coastlines has dramatically increased the potential for insured losses, even without a cyclical increase in the...
TWIA to present Texas Legislature with a two-fold agenda
Mar 6 2006 // Unlike insurers of last resort in states like Louisiana and Florida, the Texas Windstorm Insurance Association does not enjoy federal tax-exempt status. TWIA’s Board of Directors and its Executive Director Jim Oliver...
Max Mayfield gives wind conference ‘bad news’
Mar 6 2006 // There is no reason to think there will be any change in hurricane patterns in the near future; the number of hurricanes have been increasing since 1995 and there is no doubt that they will continue to do so for the next...
ICT: $1.5B Paid on Hurricane Rita Claims in Texas
Mar 6 2006 // The Insurance Council of Texas reported that insurance companies have settled 90 percent of property claims in Texas that were the result of the devastation caused by Hurricane Rita that struck in late September...
Fla. Congressman Files Catastrophe Savings Account Legislation
Mar 6 2006 // Legislation to create Catastrophe Savings Accounts to give Florida homeowners the opportunity to put aside tax-free money to financially prepare for major catastrophes has been filed by Congressman Tom Feeney from Orlando,...
Insurance Trade Group Sees Storm Brewing in Texas
Mar 6 2006 // Hurricane season is just a few short months away and the head of a Texas-based insurance trade group already sees some dark clouds on the horizon. “The Texas Windstorm Insurance Association is considerably under...
Windstorm panelists: Carriers hesitant to write policies in Florida
Mar 6 2006 // A panel of eight insurance experts agreed unanimously that carriers are closely scrutinizing Florida and are hesitant to renew homeowners policies. Bill Bailey, director of the Hurricane Insurance Information Center,...
Incentives could improve earthquake protection
Mar 6 2006 // There are opportunities to make California more earthquake-safe, according to the Institute for Business & Home Safety (IBHS). At the recent meeting of the Little Hoover Commission, a state oversight agency that...
Commissioners Face Long List of Topics in Orlando
Mar 3 2006 // Reference to the National Catastrophe Insurance Plan is prominently absent from the National Association of Insurance Commissioner’s agenda as NAIC kicks off its March 4-7 Spring National Meetings in Orlando,...
Allied World Posts $23.9 Million Q4 Net Loss; $159.8 Million Full Year
Mar 3 2006 // Bermuda-based Allied World Assurance Holdings, Ltd. has reported a net loss of $23.9 million for the fourth quarter 2005, compared to net income of $103 million for the fourth quarter 2004. The net loss for the twelve...
Quanta Reports Increased Q4 Loss; Best Lowers Ratings
Mar 3 2006 // Quanta Capital Holdings Ltd. has reported preliminary financial results for the fourth quarter and full-year ended Dec. 31, 2005, “subject,” the company said, “to completion of review by its...
Texas Windstorm Underwriting Workshops Planned for May/June
Mar 2 2006 // The Texas Windstorm Insurance Association announced it will hold “underwriting basics workshops” in various locations throughout the state. TWIA noted that these workshops will help new agents/agency personnel...
Study Says Californians Unmotivated to Prepare for Next Disaster
Mar 2 2006 // Californians believe that their state is prone to disasters, but see little motivation to prepare for nature’s crushing blows, a new poll has found. The poll, sponsored by the Insurance Information Network of...
RMS CEO Discusses Cat Models at Bermuda Conference
Mar 1 2006 // Speaking at the World Insurance Forum in Bermuda, Hemant Shah, Risk Management Solutions CEO, warned that insurers should be preparing to increase their reserves for catastrophe losses, not only due to the unprecedented...
NAMIC Focuses Federal Affairs Agenda on Regulatory and Asbestos Reform
Mar 1 2006 // The National Association of Mutual Insurance Companies (NAMIC) – which has more than 1,400 member companies that underwrite 43 percent ($196 billion) of the property/casualty insurance premium in the United States...
