Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
ProCentury Sees $6 Mil Hurricane Losses in Q3
Oct 28 2005 // ProCentury Corporation reported after-tax losses for the third quarter from hurricanes Katrina and Rita of approximately $6.0 million, or $0.46 per diluted share, net of expected reinsurance and including estimates of...
U.S. RE Takes Lead on Public/Private Facility for Terrorism Reinsurance
Oct 28 2005 // While backers of an extension of the federal terrorism reinsurance program are still hoping that at least a short term fix will be approved before the Terrorism Risk Insurance Act officially expires at year’s end,...
Vesta Subsidiary Estimates Hurricane Wilma Losses at $4.5 to $8.5 Million
Oct 28 2005 // Vesta Insurance Group, Inc. announced that its preliminary net loss estimate from Hurricane Wilma for its subsidiary, Florida Select Insurance Company, is expected to be in the range of $4.5 to $8.5 million, after recovery...
ACE Reports $112 Million Q3 Net Loss
Oct 27 2005 // Bermuda’s largest insurer, ACE Limited, did a bit better than its counterpart in the third quarter (See previous article), reporting a net loss of “only” $112 million or $(0.43) per common share after...
XL Says Q3 Cats Will Cost $1.47 Billion; Fitch Lowers Ratings
Oct 27 2005 // XL Capital Ltd. will officially announce its third quarter results on Monday, Oct. 31, but it has already indicated in a preliminary announcement that it expects to report an impressive $1.47 billion in net losses for the...
Hurricane Katrina Causes Unemployment Rate in La. to Double
Oct 27 2005 // The Louisiana Department of Labor reported that the preliminary September unemployment rate for Louisiana soared to 11.5 percent after Hurricane Katrina, marking the highest unemployment rate in the state since January of...
Adjusters Dispatched to Southeast Florida: Face Uncertain Conditions After Hurricane Wilma
Oct 26 2005 // Insurance adjusters are converging on Orlando this morning to regroup and then after short meetings, be assigned to Florida’s southwest and southeast coasts, where they begin to access the damage caused by Hurricane...
Fitch: Hurricane Wilma Further Strains a Delicate Florida Insurance Market
Oct 26 2005 // Fitch Ratings today said Hurricane Wilma represents a major blow to an already weak Florida property insurance market. If actual insured losses come in at the high end of the estimated range ($4 billion to $10 billion),...
Study Finds Only 18% of Americans Approve of Insurance Industry’s Job Post-Hurricane Katrina
Oct 26 2005 // In the wake of Hurricane Katrina, an online study of approximately 1,000 U.S. adults conducted by the research group Ipsos Public Affairs shows that while nearly all respondents approve of the job being done by charities...
La. DOL Says Nearly $250 Million Paid to Hurricane Victims
Oct 25 2005 // Jobless benefits for victims of hurricanes Katrina and Rita now stand at $242.8 million, with Katrina-related claims totaling $233.8 million and Rita claims totaling $8.9 million, according to the Louisiana Department of...
RMS Estimates Wilma Insured Losses Will Total $6 Billion-$10 Billion
Oct 25 2005 // Insured losses in the United States from Hurricane Wilma are likely to range from $6 billion to $10 billion, predicted Risk Management Solutions (RMS). The Newark, Calif.-based company said its estimate is based on current...
Nationwide Claims Reps Provide Hurricane Relief to Victims in Naples
Oct 25 2005 // Nationwide claims representatives and humanitarian relief teams stood by on Tuesday in the Lowe’s parking lot on 6415 Naples Blvd. in Naples, Fla. to provide aid to Hurricane Wilma victims. Nationwide teams brought...
S&P Comments on Wilma’s Potential Impact on Florida Coverage
Oct 24 2005 // A statement, issued by Standard & Poor’s Ratings Services, notes that Florida has already sustained about $1 billion in insured losses during the current hurricane season. Hurricane Wilma is expected to hit...
Cat 3 Hurricane Wilma Bashes Naples, Fla.; Eye Passes West Palm Beach
Oct 24 2005 // As if being precisely orchestrated by the National Hurricane Center in Miami, Wilma thundered ashore in Naples, Fla. at 6:30 a.m. EDT, as a Category 3 hurricane, bringing with it pounding waves, torrential rain and...
Hurricane Wilma Losses on Florida’s West Coast Estimated at $6B to $9B
Oct 24 2005 // Catastrophe risk modeling company AIR Worldwide Corporation estimates U.S. insured losses from Hurricane Wilma at $6 billion to $9 billion. Wilma strengthened overnight and made landfall at 6:30 a.m. this morning at Cape...
Florida Dispatching Search-and-Rescue Officers to Areas Hit by Hurricane Wilma
Oct 24 2005 // More than 300 search-and-rescue officers are now fanning out over southwest Florida and are heading toward southeast Florida to assist in search and rescue efforts, according to Tom Gallagher, Florida’s State Fire...
Crawford & Co. Reports Third Quarter Results; Hurricanes Reduced Income
Oct 24 2005 // Atlanta-based Crawford & Company, an independent provider of claims management solutions to insurance companies and self-insured entities, has announced its financial results for the third quarter ended Sept. 30,...
Fla. Attorney General Cautions Hurricane Wilma Victims To Use Care In Hiring Workers
Oct 24 2005 // Attorney General Charlie Crist has advised Floridians to use extra caution when hiring workers to help clean up the damage caused by Hurricane Wilma. In particular, Crist warned those who are victims of water damage and...
Florida Keys, Southwest Coast Prepare for Hurricane Wilma’s Arrival
Oct 22 2005 // The National Hurricane Center reported on Sunday evening that Hurricane Wilma was speeding up, moving northeast at 14 mph and expected to make landfall on Florida’s west coast early Monday morning. When Wilma makes...
Vesta Insurance Statement Confirms Reinsurance to Cover Hurricane Wilma
Oct 21 2005 // Birmingham, Ala.-based Vesta Insurance has confirmed it has complete reinsurance coverage if Hurricane Wilma results in claims in Florida. “As previously disclosed, Vesta’s losses from Hurricanes Katrina and...
