Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Editor’s Note: A Silver Lining?
Oct 17 2005 // The terrorist attacks of Sept. 11, 2001, the tsunami of December 2004, Katrina, Rita, the October 2005 earthquake in Pakistan/India. What can we make of all these man-made and natural catastrophes? They are bigger than...
News Briefs
Oct 17 2005 // Arkansas Employment up in Ark. A recent report from the Federal Deposit Insurance Corp. showed that employment in Ar-kansas is at a high point-1.1734million-but warned that hurricane refugees could strain state...
Dual Hurricanes Blew in Big Problems for Agribusiness in Louisiana,Texas
Oct 17 2005 // In addition to the immense destruction in heavily populated urban centers and coastal communities caused by Hurricanes Katrina and Rita, which hit the Gulf Coast region in August and September 2005, agricultural interests...
As Insured Acres Increase, Are Farmers Subsidizing High-Risk States?
Oct 17 2005 // The hurricane [Katrina] produced catastrophic Broward and Miami- Dade counties in Florida. As a direct result of the Agricultural Risk Protection Act of 2000 (ARPA), more farmers are insuring their cropland. Nationwide,...
Continuing Battle against Wildfires Fuels Need for Insurance
Oct 17 2005 // As firefighters battled into last week trying to contain one of a number of brush fires in the Los Angeles area, residents throughout California are keeping a close eye on weather conditions and their insurance policies,...
Hurricane Katrina to Cost $40-$55 Billion for Privately Insured Losses
Oct 17 2005 // Hurricane Katrina is expected to result in $40 to $55 billion in private insurance payments, according to a new white paper developed by the Tillinghast and Reinsurance businesses of Towers Perrin. “Hurricane...
News Briefs
Oct 17 2005 // Katrina Churns in $34.4B in Losses: Hurricane Katrina is expected to cost U.S. property/casualty insurers an estimated $34.4 billion in insured property losses, making it the costliest U.S. catastrophe ever, according to...
Hurricane Watch Issued for Cayman Islands; Storm May Impact U.S.
Oct 16 2005 // After a slight lull in the Atlantic hurricane season, things may be heating up again. A hurricane watch was in effect for the Cayman Islands as a tropical depression churned through the Atlantic on a path that may threaten...
Cincinnati Financial Lost $3 Mil on Rita
Oct 14 2005 // Cincinnati Financial Corporation today announced an estimate of $3 million for pretax catastrophe losses resulting from Hurricane Rita and updated its estimates of previously announced catastrophe losses. Total...
La.’s Hibernia Corp. Warns of Hurricane-Related Costs
Oct 14 2005 // Hibernia Corp., a Louisiana-based banking company trying to complete its $5 billion acquisition by Capital One Financial Corp., warned it faces substantial costs and financial uncertainties stemming from Hurricane...
Jobless Claims in La. Reach Historic Levels After Hurricanes
Oct 14 2005 // The Louisiana Department of Labor reported it has paid out more than $3 million in Unemployment Insurance and Disaster Unemployment Assistance benefits to victims of Hurricane Rita, while Katrina claims have topped $181...
Hurricanes Slow Aviation Premium Cuts, Report Says
Oct 14 2005 // The decline in airline insurance premium rates will slow during the October to December renewal season, despite a good industry safety record in 2005, according to the “Airline Insurance Market Review,” a new...
TDI Says Repairs After Rita May Need Windstorm Inspection
Oct 13 2005 // The Texas Department of Insurance issued a reminder to all homeowners along the Gulf Coast that damage to their dwellings by Hurricane Rita must be repaired in accordance with the Texas Windstorm Building Code (TWBC) if...
Ohio Casualty Unveils Q3 CAT Losses
Oct 13 2005 // Ohio Casualty Corporation announced that it estimates total net catastrophe losses for third quarter 2005 to be approximately $11.6 million after-tax. Approximately $9.8 million of the estimated catastrophe losses are...
Horace Mann Estimates Hurricane Loss
Oct 13 2005 // Illinois-based Horace Mann Educators Corporation estimates its financial impact from Hurricanes Katrina and Rita will total approximately $29 million to $33 million pretax, net of anticipated reinsurance...
Specialty Underwriters’ Alliance: No Expected Losses from Hurricanes
Oct 13 2005 // Chicago-based Specialty Underwriters’ Alliance Inc. reported that it does not expect any losses related to the recent hurricane activity. SUA President and Chief Executive Officer Courtney Smith stated, “Our...
CNA Takes $280M Hit from Hurricanes
Oct 12 2005 // CNA Financial Corporation announced that its preliminary estimate of losses relating to Hurricane Katrina is approximately $280 million, after-tax. This estimate includes pretax gross commercial losses and loss expenses of...
RMS Creates Online Terrorism and Security Risk Manager
Oct 12 2005 // Risk Management Solutions (RMS), Newark, Calif., has announced the launch of a Terrorism and Security Risk Manager online service, a new information source for insurers writing global terrorism risk. The service is...
Agreement Reached: Nationwide to Audit Last Year’s Florida Hurricane Claims, Correct Underpayments
Oct 12 2005 // Nationwide Insurance has reached an agreement with the Florida Office of Insurance Regulation to audit its claims from the 2004 hurricane season and correct any underpayments. OIR announced that under the agreement...
Three Mississippians Charged for Making False Hurricane Katrina Claims
Oct 11 2005 // Three Mississippi residents have been accused of making false claims to the Federal Emergency Management Agency for Hurricane Katrina relief funds. Dunn Lampton, U.S. Attorney for the southern district of Mississippi, told...
