Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Fla. Residents Keep an Eye on Tropical Storm Tammy
Oct 5 2005 // With more than a month left in the hurricane season, folks in Florida shouldn’t be surprised that someone is once again knocking on their door. Tropical Storm Tammy gained formation Wednesday off Florida’s east...
More than 70 Dead as Hurricane Stan Bashes Mexico, Surrounding Areas
Oct 5 2005 // Parts of Mexico and surrounding regions witnessed major destruction from Hurricane Stan earlier this week, with more than 70 people reported dead in Central America. Formerly a Category 1 storm, the storm was reportedly...
Record First-Half, Surplus Boost P/C Insurers’ Ability to Pay Hurricane Losses
Oct 5 2005 // The U.S. property/casualty insurance industry’s net income after taxes rose 29.1 percent to a record $30.9 billion in first-half 2005 from $23.9 billion in first-half 2004. Reflecting the industry’s income, its...
Hurricane Katrina Will Not Disrupt Market, Insurers Say
Oct 5 2005 // While property/casualty industry expects insured losses from Hurricane Katrina to reach a record high of $34.4 billion, the Property Casualty Insurers Association of America says insurers will weather the storm of more...
Agriculture Losses in La. from Hurricane Rita to Top $472 Million
Oct 4 2005 // The Louisiana Department of Agriculture and Forestry reported that with preliminary estimates in, it appears agriculture and forestry will take at least a $472 million hit from Hurricane Rita. Coupled with the growing...
PartnerRe Updates Impact of Q3 Catastrophic Events
Oct 4 2005 // Bermuda-based PartnerRe Ltd. has provided a further update on the catastrophic events of the third quarter, and the potential impact on the company’s shareholders’ equity. The company currently estimates that...
Zurich Estimates Hurricane Katrina Losses at $600 Million, After Tax
Oct 4 2005 // Zurich Financial Services Group (Zurich) announced that it expects aggregate claims payments related to Hurricane Katrina of approximately $600 million after tax. This figure is net of reinsurance recoverables. It includes...
South Carolina Tweaking Hurricane Preparedness Plans
Oct 3 2005 // Emergency workers along the South Carolina coast are tweaking hurricane preparedness plans in the wake of Gulf Coast storms Katrina and Rita. According to the Columbia State, officials are looking into whether there are...
AIIA LAUNCHES HURRICANE KATRINA ‘BLOG’
Oct 3 2005 // Alabama Independent Insurance Agents have launched a Hurricane Katrina “blog” where information commentary or thoughts about the hurricane can be posted. AIIA created the blog to present all information the...
Picking Up the Pieces
Oct 3 2005 // Although Hurricanes Katrina and Rita are behind us, hurricane season continues through the end of November. And while it does, residents on the Gulf and Atlantic Coasts are picking up the pieces and rebuilding their lives,...
Hurricane Katrina: The Legal Saga Begins
Oct 3 2005 // The New Orleans tragedy may spawn a wave of litigation related to flood protection and levee failures. Public statements, which may serve as a foundation for massive public safety legal claims, began Sept. 1. Based on the...
How Did Catastrophe Models Weather Katrina?
Oct 3 2005 // While it’s too early to tell if the highly touted computer catastrophe models met expectations for Hurricane Katrina, there are indications the models didn’t work as well as some insurers had hoped. Several...
Stand-Alone Terrorism
Oct 3 2005 // Nuts & Bolts: Insurance Company of the West announced it will offer admitted stand-alone property terrorism coverage for most states. Additional states, including New York, New Jersey, Vermont, Connecticut, Dela-ware,...
After the Wreckage, Hurricane Katrina Spawns Lawsuits
Oct 3 2005 // Shortly after Hurricane Katrina devastated parts of Louisiana, Mississippi and Alabama, the U.S. Chamber Institute for Legal Reform issued a statement warning that the financial wreckage caused by Hurricane Katrina could...
Hurricane Rita Losses Not as High as Previous Storms
Oct 3 2005 // But destruction will add to totals from Dennis, Katrina and Ophelia. While indications are that damages from Hurricane Rita won’t come close to equaling those of its immediate predecessor, Hurricane Katrina, that...
How Did Catastrophe Models Weather Katrina?
Oct 3 2005 // While it’s too early to tell if the highly touted computer catastrophe models met expectations for Hurricane Katrina, there are indications the models didn’t work as well as some insurers had hoped. Several...
California May Lower Quake Insurance Rates in Wake of Katrina
Oct 3 2005 // As federal, state and local officials grapple with the financial and physical ruin wrought by Hurricane Katrina, momentum is building to make earthquake insurance offered by the semipublic California Earthquake Authority...
New Report Warns of Rising Threat to US Insurers from Climate Change
Oct 3 2005 // Higher premiums, coverage restrictions already hitting many parts of country Hurricane Katrina is a poignant reminder that U.S. insurers, government and consumers are at enormous risk from escalating losses from hurricanes...
Citizens COO Quits; Investigations Ongoing After Kickback Accusations
Oct 3 2005 // Citizens Property Insurance Corp. Chief Operating Officer R. Paul Hulsebusch is facing accusations by Universal Risk Insur-ance Services in Houston, Texas, that after last year’s hurricanes he sought kickbacks from...
News Briefs
Oct 3 2005 // ALABAMA Ala. Commissioner Asks Carriers for 60 Day Grace Period Alabama Insu-rance Commissioner Walter Bell has asked all carriers to provide a 60-day grace period for customers who have claims related to Hurricane Katrina...
