Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Looyenga Outlines Major Hurricane Policy Changes
Aug 22 2005 // Open Market System Suggested: It’s essential to prepare now in case that one-in-10,000 major hurricane hits the Southern United States, Roger Looyenga, CEO of Auto-Owners Ins-urance said at the Florida Assoc-iation...
Catastrophe Models No Substitute for Experienced Underwriters
Aug 22 2005 // Managing Editor, Insurance Insider Computer programs designed to predict losses from possible cataclysmic events have been a boon to the insurance industry-the programs have reinforced reinsurers’ loss expectations,...
Study: Short-Term TRIA Renewal Recommended; Long-Term Solution Needed
Aug 22 2005 // A 224-page report from the Wharton School at the University of Pennsylvania recommends that Congress renew the current federal Terrorism Risk Insurance Act backstop but “only for a relatively short period of...
Insurance Industry’s Share of Weather-Related Losses Rising, Researcher Says
Aug 22 2005 // The insurance industry’s share of the world’s total economic losses from weather-related catastrophes is rising and 60 percent of these weather-related losses are attributable to small events as distinct from...
Ivan Costliest U.S. Hurricane in 2004
Aug 19 2005 // Flooding from Hurricane Ivan’s rain and storm surges prompted more than a billion dollars in claims, making it the costliest hurricane of 2004, U.S. officials said. Ivan’s damage also made it the third most...
Fla. 2004 Hurricane Recovery Passes $5.6 Billion Mark
Aug 18 2005 // One year after Hurricane Charley made landfall as the first of four major hurricanes to strike Florida, federal and state disaster assistance totals more than $5.6 billion, the U.S. Department of Homeland Security’s...
AIR Unveils Update of CATStation
Aug 17 2005 // AIR Worldwide Corporation (AIR) announced the latest release of CATStation, its web-based catastrophe risk management system. CATStation now reportedly provides insurers the ability to better manage accumulations of risk...
N.D. Officials Crack Down on Uninsured Contractors in Wake of July Hailstorm
Aug 16 2005 // In the aftermath of last month’s destructive hailstorms, North Dakota’s Construction Compliance Task Force has begun aggressively checking construction sites to ensure that contractors are insured and...
Tropical Storm Risk Reports More Hurricanes on the Way for U.S.
Aug 15 2005 // As the hurricane season recently entered its third month, a London-based storm forecaster reports that a higher-than-usual number of hurricanes are expected to hit the United States this year. Tropical Storm Risk increased...
Wash. State Battles Blaze as More than 100 Homes Destroyed; Other Western States Face Fires
Aug 13 2005 // While temperatures fell Friday and the humidity rose, that was about the only good news for folks and firefighters in southeastern Washington State, as a nearly 50,000-acre wildfire continued to blaze. More than 100 homes...
RMS to Open Bermuda Office
Aug 12 2005 // Calif.-based Risk Management Solutions will open an office in Hamilton, Bermuda. RMS made the announcement at a market seminar on the island that focused on recent technical developments in catastrophe modeling relevant to...
Earthquake Damage Can Be Avoided
Aug 10 2005 // Although earthquakes are among the least predictable natural hazards, losses to unprepared businesses can be substantial when they do occur. Affiliated FM, a commercial property insurer and loss prevention expert serving...
Fla. Medical Examiners to Discuss FEMA’s Non-Hurricane Funeral Payments
Aug 10 2005 // The Florida Medical Examiners Commission will meet Thursday on Key Biscayne, Fla. to discuss findings indicating that the Federal Emergency Management Agency paid hurricane funeral claims in Florida amounting to $1.3...
N.D. Hailstorm Damage Tops $100M Insured Damage
Aug 10 2005 // A severe hailstorm that ripped through Bismarck and Hettinger, North Dakota late last month caused more than $100 million in damage to insured property. According to North Dakota Insurance Commissioner Jim Poolman, several...
Wharton Study Recommends Short-Term TRIA Renewal, Study of Long-Term Solution
Aug 10 2005 // A 224-page report from the Wharton School at the University of Pennsylvania recommends that Congress renew the current federal Terrorism Risk Insurance Act backstop but “only for a relatively short period of...
Society of Insurance Research Agenda: Natural Catastrophes, Legislative, Political Issues
Aug 9 2005 // Insurance implications of natural catastrophes, key legislative and political issues confronting insurers and how emerging technologies will affect the insurance business, will be discussed during Oct. 16 to 19 Society of...
Safety Group Requests Federal Aid to Protect Communities from Windstorms
Aug 8 2005 // There are clear opportunities for the federal government to support research into making homes and businesses safer from violent windstorms and to remove barriers to developing hazard resistant construction. That was the...
Insurers Unveil ‘Market-Based’ Proposals to Boost Terrorism Coverage
Aug 8 2005 // Property casualty insurers have outlined what they term a “market-based” approach to providing terrorism risk insurance. The proposals include repeal of some state laws on fire policies and creation of a...
HURRICANE DENNIS LOSSES TOP $10 MILLION
Aug 8 2005 // As claims reportedly continue to pour in, Georgia Insurance Commissioner John Oxendine said insured losses in Georgia from Hurricane Dennis now exceed $10 million. “Damage to insured homes, vehicles and businesses is...
Insurers Unveil ‘Market-Based’ Proposals to Boost Terrorism Coverage
Aug 8 2005 // Property casualty insurers have outlined what they term a “market-based” approach to providing terrorism risk insurance. The proposals include repeal of some state laws on fire policies and creation of a...
