Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
S.C. Coastal Homeowners Offered Catastrophe Coverage Product
Mar 20 2006 // A homeowners catastrophe product for residential dwellings in South Carolina’s coastal counties has been introduced by International Catastrophe Insurance Managers, LLC and Praetorian Financial Group, Inc....
Scruggs: Whistleblower Helping in Hurricane Katrina Lawsuit
Mar 20 2006 // A high-profile litigator in Moss Point, Miss. said that a whistleblower is helping him build a case against insurers that allegedly denied thousands of claims from policyholders whose homes were destroyed in Hurricane...
Hurricane fatigue
Mar 20 2006 // One decried a system in which wealthy waterfront property owners are being subsidized by less affluent property owners and taxpayers: “If the state is going to continue to attract new residents, it will have to make...
Ensuring someone brings home the gold, silver, bronze — and green
Mar 20 2006 // While Italians sadly said farewell to the Torino 2006 XX Olympic Winter Games, held Feb. 10-26, insurers are happy the event came and went without a hitch. For the first time, the International Olympic Committee purchased...
Study says Californians unmotivated to prepare for next disaster
Mar 20 2006 // Californians believe that their state is prone to disasters, but they see little motivation to prepare for nature’s crushing blows, a new poll has found. The poll, sponsored by the Insurance Information Network of...
Earthquakes, floods and wildfires … oh my!
Mar 20 2006 // “First and foremost, have some sort of plan. It doesn’t have to be a million dollar plan for the smaller operators but communication needs to be spelled out.” – David Losson In the wake of Hurricane...
Legislators hear insurance industry’s resounding voice after the storm
Mar 20 2006 // Sound, up-to-date and successful building codes are essential for construction, but codes must also be enforced and continuously updated to effectively contribute to disaster mitigation, said Leonard C. Brevik, National...
Fla. Insurance Council to push mitigation efforts
Mar 19 2006 // FIC supports efforts to strengthen the Florida Uniform Statewide Building Code by requiring shutters, impact-resistant glass or other opening protections on all new construction where winds of 120 miles or greater have...
RMS CEO sees bigger catastrophe losses
Mar 19 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...
News Currents
Mar 19 2006 // Berkshire’s Buffett still high on insurance despite catastrophe risk Gen Re misfortunes overcome by Geico’s stellar performance, Buffett says Warren E. Buffett, the billionaire chairman of giant Berkshire...
SPECIAL REPORT: Surplus Lines
Mar 19 2006 // Earthquakes, floods and wildfires oh my! Solid disaster recovery plan keeps surplus lines brokerage firm afloat in New Orleans In the wake of Hurricane Katrina, the New Orleans area office of Crump Insurance Services was...
W.Va. Commissioner Cline Tells Big ‘I’ about Fraud Unit’s status; group hears catastrophe tips
Mar 19 2006 // David Daniel gives tips about how independent agents can prepare for disasters. The Insurance Commission’s status was discussed by Commissioner Jane Cline, and J. David Daniel, a member of the Big “I”...
National Council of Insurance Legislators
Mar 19 2006 // Panelists agreed unanimously that uniform statewide building codes are necessary to have everyone prepared for hurricanes and that local building departments had to enforce stronger codes. Up-to-date building codes,...
Editor’s Note: 72 days and counting until
Mar 19 2006 // Legislators are meeting across the Southeast to discuss a wide variety of insurance issues: Proposals in Florida would designate hurricane tax revenue to help pay for hurricane repairs; there are a dozen proposals in...
Cat Bonds Becoming a Common Alternative to Reinsurance, S&P Says
Mar 17 2006 // The insurance industry is turning more frequently to catastrophe bonds, according to an article titled “Catastrophe Bonds: Assessing A Risky Business,” which was published by Standard & Poor’s...
Judges in New Orleans Trying to Fast Track Hurricane Lawsuits
Mar 17 2006 // Civil courts in New Orleans, La., have begun trying to speed up storm-related lawsuits – many of them against insurance companies – that deal with who should pay for property damages caused by hurricanes...
Insurers Seek to Boost Hurricane Insurance Along Texas Coast
Mar 16 2006 // Texas insurers are seeking state approval of a plan to bolster a windstorm insurance pool for coastal property owners at risk during hurricane season. The industry wants the Legislature to approve $800 million in bonds to...
AIG Issues 2005 Annual Report; Net Income for Year was $10.48B
Mar 16 2006 // American International Group Inc. (AIG) has filed its Annual Report on Form 10-K for the year ended Dec. 31, 2005 with the Securities and Exchange Commission. Net income for the full year 2005 was $10.48 billion or $3.99...
ICAT, National Fire and Marine Launch New Catastrophe Product
Mar 16 2006 // In response to unmet capacity needs created by the devastating natural disasters of 2005, International Catastrophe Insurance Managers, LLC (ICAT), and National Fire and Marine Insurance Company (Berkshire Hathaway Group)...
Dale Reports Miss. Insurers Have Made Solid Progress
Mar 15 2006 // A report in Jackson, Miss. by Insurance Commissioner George Dale shows that six months after Hurricane Katrina struck a devastating blow to the Gulf Coast, major insurers have made solid progress and are committed to...
