Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
While the industry can almost certainly handle a single storm such as Katrina, should we realistically expect it to hand
Feb 5 2006 // There is no doubt that 2005’s unprecedented hurricane season stretched the human resources of the entire claims industry. Qualified, experienced adjusters were in high demand and short supply. While there are still...
News Currents
Feb 5 2006 // Bill Bailey, director of the Hurricane Insurance Information Center Windstorm Conference speaker doesn’t think Mississippi wind vs. flood suits will succeed After 2004, 2005 hurricane season, record attendance...
News Currents
Feb 5 2006 // Insurers seek bond measures for Texas catastrophe fund Taking a cue from the Scout motto “Be Prepared,” a group of insurers is recommending legislation that would allow for generating funds to help pay for the...
Editor’s Note:
Feb 5 2006 // The insurance industry is expected to pay out a record $56.8 billion for 2005 insured residential and business property losses. Is this the year Texas will be hit by the “big one?” Last year, Louisiana and...
News Currents
Feb 5 2006 // Bill Bailey, director of the Hurricane Insurance Information Center Windstorm Conference speaker doesn’t think Mississippi wind vs. flood suits will succeed The controversy over litigation about wind vs. flood damage...
Time to reflect on hurricane lessons learned
Feb 5 2006 // There is no doubt that 2005’s unprecedented hurricane season stretched the human resources of the entire claims industry. Qualified, experienced adjusters were in high demand and short supply. While there are still...
Government estimates its cost under terrorism insurance extension
Feb 5 2006 // The Congressional Budget Office is projecting a government cost of $1.5 billion through the next 10 years under the legislation extending the Terrorism Risk Insurance Act of 2005 (S. 467). However, despite weighing...
Treasury clarifies liability under terrorism reinsurance
Feb 5 2006 // Insurers writing monoline farm policies and incidental professional liability coverage may face additional work to clarify coverage for their insureds under the federal terrorism reinsurance program. Officials of the U.S....
High Winds Leave Heavy Damage in Hurricane-Hit Areas of New Orleans
Feb 3 2006 // A violent thunderstorm swept through neighborhoods in New Orleans hit hard by Hurricane Katrina, tearing off roofs, knocking down utility poles and collapsing at least one previously storm-damaged house early on Feb. 2,...
Experts Predict Devastating Ariz. Wildfire Season
Feb 3 2006 // Dry conditions this year and heavy moisture last year could combine to make Arizona’s imminent wildfire season the most devastating yet, experts told Arizona Gov. Janet Napolitano at a roundtable discussion. While...
I.I.I. Says Nearly 70% of Katrina Homeowner Claims Settled in Louisiana, Mississippi
Feb 2 2006 // Homeowners insurers have settled nearly 70 percent of claims from Hurricane Katrina in Louisiana and Mississippi, according to the Insurance Information Institute (I.I.I.). The I.I.I. estimated that more than 732,000...
Allstate Earnings Drop 9% on Hurricane Damages from 3 Storms
Feb 2 2006 // Insurer Allstate Corp. says it has settled about 75 percent of the property claims and nearly all auto claims stemming from Hurricanes Katrina, Rita and Wilma. But the company cited Wilma, which battered south Florida in...
National Hurricane Director to Speak at Windstorm Conference
Feb 1 2006 // National Hurricane Center Director Max Mayfield and former NFL Player Danny Wuerffel will be among the keynote speakers sharing their experiences of last year’s hurricane season at the Seventh Annual Windstorm...
Thousands of Hurricane Evacuees In Georgia Missed FEMA Deadline
Feb 1 2006 // Thousands of hurricane evacuees around the state will have to start paying their own hotel bills next Tuesday after missing a deadline to register for additional federal funds. Evacuees in nearly 2,000 hotel rooms missed a...
Florida Condo, Carrier Reach Hurricane Repair Agreement
Feb 1 2006 // Southern Family Insurance representatives have met with 200 Century Village condominium owners in Boca Raton, Fla. and agreed to pay for extensive hurricane repairs including the replacement of five roofs. Bob Goolman,...
Guy Carpenter Unveils Report on Jan. 1 Property Reinsurance Renewals
Jan 31 2006 // Guy Carpenter & Company Inc. reported the publication of Property Specialty Update – 1 January 2006 Renewal Season Overview, an in-depth report on the Jan. 1, 2006 property renewal season. The study, which...
Buoys to Detect Tsunamis to be Placed Off East Coast
Jan 31 2006 // Federal officials say they will place the first tsunami-detecting buoys in the Atlantic Ocean this spring to give residents more time to escape the giant waves. The National Oceanic and Atmospheric Administration announced...
Miss. Commissioner Dale: Leader, Follower or Shill?
Jan 30 2006 // George Dale walks a tightrope in his job as Mississippi’s insurance commissioner. He is charged with the responsibility of regulating the industry that provides most of his election support while protecting consumers...
Survey Confirms 4th Quarter Spike in Property Insurance Rates Due to Hurricanes
Jan 30 2006 // Property insurance rates increased sharply in the fourth quarter of 2005, according to the RIMS Benchmark Survey by the Risk and Inurance Management Society Inc. Reversing a two-year trend of steadily falling property...
Florida Didn’t Make Sure Hurricane Payments Were Legit
Jan 30 2006 // Florida officials didn’t confirm the legitimacy of some hurricane claims before it paid out more than $150 million as part of an agreement to share the cost with Washington, a state audit has found. As part of a deal...
