Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Lloyd’s Estimates Katrina Impact at $2.54 Billion
Sep 15 2005 // Following a review by all of its 44 managing agents, who operate its 62 active syndicates, Lloyd’s issued a bulletin indicating that its preliminary estimate of losses from Hurricane Katrina are approximately 1.4...
Meadowbrook Insurance Group Expects No Big Hits from Hurricane Katrina
Sep 15 2005 // Meadowbrook Insurance Group Inc. on Thursday reported that, although potential claims information is very preliminary, it does not expect its net losses to be significant from Hurricane Katrina. Meadowbrook President and...
Best Takes Various Rating Actions in Wake of Katrina
Sep 15 2005 // Due to the evolving effects of Hurricane Katrina, A.M. Best Co. has been aggregating public and private information in order to assess the financial impact it will have on insurers. A.M. Best expects all rated companies...
AXA RE Estimates Impact of Hurricane Katrina Losses at $200 Million
Sep 15 2005 // AXA RE, the active reinsurer of France’s AXA Group, said the impact from Hurricane Katrina will probably result in total net losses of approximately $200 million before tax. “This estimate is net of reinsurance...
Crawford & Co. Adjusting Claims in Unusual Circumstances Following Hurricane Katrina
Sep 15 2005 // The aftermath of Hurricane Katrina, which looks to be the worst natural disaster the United States has ever experienced, has created unusual circumstances that even the most seasoned of Crawford & Company’s...
Industry Opens Hurricane Insurance Information Center
Sep 15 2005 // In the aftermath of the Hurricane Katrina, the U.S. insurance industry has established the Hurricane Insurance Information Center (HIIC) in Jackson, Mississippi. Additional centers will be opened in other Gulf Coast...
XL’s Katrina Net Losses 1.75% of Industry Totals (Around $700 Million)
Sep 14 2005 // Bermuda-based XL Capital Ltd. announced that, based on initial analyses performed by the Company and preliminary estimates received to date, its “net losses (excluding net reinstatement premiums) relating to...
Endurance Estimates Net Katrina Losses Between $375-$450 Million
Sep 14 2005 // Bermuda-based Endurance Specialty Holdings Ltd. said its initial estimates of losses, net of reinsurance, reinstatement premiums, and tax benefits, related to Hurricane Katrina are between $375 and $450 million. The...
Pa. Planners Turn Focus to How to Handle Potential Katrina-like Crisis
Sep 14 2005 // The size and complexity of the Hurricane Katrina disaster are forcing Pennsylvania’s emergency planners to confront new questions about how well the state might handle a civil emergency of similar magnitude. Floods...
Hurricane Ophelia Packs 85 mph Winds, Pounds the Coast 40 Miles East of Wilmington, N.C.
Sep 14 2005 // Hurricane Ophelia, a Category One hurricane packing 85 mph sustained winds, is raking the North Carolina coast with strong winds and blowing rain. The center of Ophelia is 40 miles east of Wilmington, N.C. and about 50...
Congress Eyes Tax Changes to Aid Hurricane Victims
Sep 14 2005 // Lawmakers in the nation’s capital have proposed tax changes to encourage charitable giving and help victims of Hurricane Katrina get back on their feet. The Senate’s top tax writers offered a package of tax aid...
Republic Reports on Losses from Hurricane Katrina
Sep 14 2005 // Republic Companies Group Inc., headquartered in Dallas, released information regarding its response to Hurricane Katrina and the financial effects of this Category 4 hurricane on the third quarter results of Republic. In...
Fitch Moves 5 Insurers to Rating Watch Negative Following Katrina
Sep 13 2005 // Fitch Ratings has placed the ratings of five North American property/casualty insurance and reinsurance organizations on Rating Watch Negative Tuesday based on potential large loss exposures to Hurricane Katrina. The...
IIAH to Help With Agency Buddy System for Agents Displaced by Hurricane
Sep 12 2005 // The Independent Insurance Agents of Houston announced that IIAH has been contacted by IIABA about the possibility of setting up an “agency buddy system” with the three state associations hit by Hurricane...
Colo. Residents Settle Wildfire Lawsuit with Energy Provider
Sep 12 2005 // Jamestown, Colo. residents who sued Xcel Energy after losing homes or property in a wildfire in 2003 have settled their lawsuit against the company. The 49 plaintiffs agreed not to disclose financial terms of the...
Guy Carpenter & Company Releases Study of Property Catastrophe Reinsurance Market
Sep 12 2005 // Guy Carpenter & Company Inc., a global risk and reinsurance specialist and a part of the Marsh & McLennan Companies has released its annual, comprehensive study of the property catastrophe reinsurance market, The...
S&P Analyzes Earthquake Threat for Japan’s Property/Casualty Companies
Sep 12 2005 // “The one-two punch of insurance payouts and share price losses following a major earthquake in Tokyo would not immediately jeopardize insurance companies’ ability to pay claims, but could have a negative impact...
Hurricane Ophelia Taunts 250-Mile Stretch of S.C., N.C.
Sep 12 2005 // Hurricane Ophelia circled in the Atlantic Ocean off the coast of South and North Carolina on Sunday and will continue to do so today. More than 250 miles of coastline has been placed under a tropical storm watch from...
AXIS Says Hurricane Katrina Losses ‘Within Current Expectations’
Sep 12 2005 // Bermuda-based AXIS Capital Holdings Limited gave no figures for its estimated net losses from Hurricane Katrina, but indicated that they “are estimated to be within its current expectations of consolidated operating...
Best Comments on Katrina’s Impact on the Global Reinsurance Industry
Sep 12 2005 // As the Reinsurance Rendezvous opens in Monte Carlo, A.M. Best Co. has issued a comment on the possible impact of Hurricane Katrina on the global insurance industry. Many of the biggest European companies – Munich Re...
