Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
States Claim National Catastrophe Plan Would Save Taxpayers
Dec 4 2005 // Insurance regulators from California, Florida, Illinois and New York, on the heels of last month’s National Catastrophe Insurance Summit, are peddling a national catastrophe insurance program that they say would aid...
Editor’s Note: Preparing for Worse
Dec 4 2005 // Florida has survived eight hurricanes in 15 months, but more destruction is coming, according to experts at last month’s National Catastrophe Insurance Summit in Burlingame, Calif. It’s just a matter of time,...
Catlin Group Estimates Wilma Claims at $45 Million; Ups Katrina Loss
Dec 2 2005 // The U.K.’s Catlin Group Limited announced that its Bermuda operating subsidiary has completed its initial estimate of losses arising from Hurricane Wilma and has also reviewed its loss estimates for Hurricanes...
Calif. Court Rules in Favor of Earthquake Policyholders
Dec 2 2005 // An insurance broker was a representative for the California Fair Plan Insurance Co. with regard to the Northridge earthquake revival statute, which gave policyholders another year to file lawsuits against their insurers in...
Scruggs, Bailey to Debate Coverage in the Aftermath of Hurricanes at UT Insurance Law Institute
Dec 1 2005 // The Continuing Legal Education division of the School of Law at the University of Texas at Austin announced that its 10th Annual Insurance Law Institute, to be held Dec. 7 – 9 at the Four Seasons Hotel in Austin,...
Condominium Associations Urged: Use Fla. Mediation Program to Settle Hurricane Claim Disputes
Dec 1 2005 // A mediation program to help condominium associations resolve disputes with their insurance companies over hurricane claims has been suggested by Tom Gallagher, Florida CFO. Gallagher said the mediation program, established...
Everest Re Estimates Hurricane Wilma Losses at $230 Million
Nov 30 2005 // The Bermuda-based Everest Re Group, Ltd. announced that it estimates losses arising from Hurricane Wilma at $230 million on an after-tax basis. “This event, which impacted the Yucatan peninsula of Mexico and South...
Lloyd’s Ups Hurricane Losses to $3.27 Billion; Increases 2006 Capacity
Nov 30 2005 // Lloyd’s has issued an updated statement on the estimated financial impact on the market of Hurricanes Katrina, Rita and Wilma, based on the results gathered from “a Major Loss Return from each Managing...
Busiest, Costliest Atlantic Hurricane Season Ends; 2006 Could be Worse
Nov 30 2005 // The victims of the busiest and costliest Atlantic hurricane season on record may be comforted now that it’s finally ending Wednesday: No hurricane has been known to hit the United States between December and May. But...
Allmerica Financial Reports Pre-Tax Wilma Losses at About $5M
Nov 30 2005 // Massachusetts-based Allmerica Financial Corp., whose name and NYSE ticker symbol will change to “The Hanover Insurance Group Inc.” and “THG,” respectively, effective Dec. 1, 2005, announced...
Wilma’s $6 Billion Cost to Insurers Raises Industry’s Catastrophe Loss Total to Record $50 Billion
Nov 29 2005 // U.S. property/casualty insurers are expected to pay an estimated $6.1 billion to Florida policyholders for insured property losses from Hurricane Wilma, pushing year-to-date catastrophe losses to $50.3 billion, an all-time...
Experts Predict More Advances Soon in Ability to Predict Hurricanes
Nov 28 2005 // Hurricane Wilma was briefly the most intense Atlantic storm on record as it moved through the Caribbean toward the Gulf Coast. That was the last thing Gulf residents wanted to hear. Two months earlier, Hurricane Katrina...
Munich Re Issues $128.7 Million Windstorm Cat Bonds
Nov 28 2005 // Cat bonds seem to be enjoying something of a revival in Europe, largely as a response to increased windstorm and flood losses, as well as the passage of Hurricane Katrina. Munich Re recently increased its commitment to...
Wellington Increases Loss Estimates from Fall Hurricanes
Nov 28 2005 // The U.K.’s Wellington Underwriting plc, whose wholly owned subsidiary Wellington Underwriting Agencies Ltd. manages Syndicate 2020 at Lloyd’s, has released a further update about the extent of losses sustained...
From Snowfall to Tornadoes, Storms Cause Deaths and Property Loss
Nov 28 2005 // Piles of snow and icy roads definitely were not what most Thanksgiving travelers wanted to deal with on their way home from the long holiday weekend. Meantime, tornadoes tore through several states damaging...
Busiest Hurricane Season on Record Ends Nov. 30
Nov 28 2005 // Hurricane Season 2005 officially comes to a close Wednesday Nov. 30 and according to Tom Gallagher, Florida’s CFO, people will be dealing with the aftermath for years to come. Nationwide, this season was the busiest...
R.I. Researchers to Create Tsunami Hazard Maps for East Coast
Nov 25 2005 // Two University of Rhode Island researchers have been awarded an $86,000 grant from FM Global, one of the world’s largest commercial property insurers, to create maps of the East Coast of the U.S. that will identify...
Texas Recovering from Hurricane Rita
Nov 25 2005 // Most insurance agents in Texas have never faced the damage caused by a catastrophic storm. Thankfully, massive hailstorms, tornadoes and hurricanes have been few and far between in our state. But, Hurricane Rita changed...
A Year After Tornado, Insurers Still Assessing Olla, La., School
Nov 25 2005 // A year after tornadoes tore up Olla, La., the auditorium at LaSalle High School still has no roof. Boards cover school windows; the gym door swings open with each gust of wind. The building has been gutted, but no other...
Jacksonville Planners Preparing for 2006 Hurricane Season
Nov 25 2005 // Jacksonville, Fla. residents should begin to prepare now for the 2006 hurricane season according to Chip Patterson, chief of the city’s Emergency Preparedness Division. Patterson recently told the Chamber of...
