Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Insurers Advise Texas Gulf Residents to Prep for Hurricanes as Season Unfolds
Jul 15 2005 // Residents along the Gulf Coast of Texas can learn a lot from the experiences of those people in Florida who were victims of multiple hurricanes last year, according Sandra Ray, public affairs director of Southwestern...
Fitch Affirms RenaissanceRe’s Ratings
Jul 15 2005 // Fitch Ratings has affirmed the ‘A-‘ long-term and senior debt ratings and ‘BBB+’ preferred stock rating on RenaissanceRe Holdings Ltd. (RenRe). Additionally, Fitch has affirmed the...
RMS Revises Dennis Loss Estimate to $1B – $3B
Jul 14 2005 // Risk Management Solutions revised its insured U.S. loss estimate from $1 billion to $5 billion to $1 billion to $3 billion from Hurricane Dennis, reflecting observations of their field reconnaissance team and additional...
Tropical Storm Emily Fast Moving; Expected to Become a Hurricane Soon
Jul 13 2005 // Tropical Storm Emily had 60 mph winds early Wednesday morning and was continuing on its path into the Caribbean. The National Weather Service reported at 5 a.m. its eye was 260 miles southeast of Barbados at latitude 11.1...
House Chair Oxley Vows Terrorism Insurance Bill This Year
Jul 13 2005 // The chairman of the House committee dealing with terrorism insurance and renewal of the Terrorism Risk Insurance Act vowed Wednesday to have a bill out of committee this year. “I am committed to delivering a bill...
Lloyd’s Licenses RMS Catastrophe Modeling Software
Jul 12 2005 // Risk Management Solutions (RMS) announced that Lloyd’s has licensed the RiskLink catastrophe modeling software which will be used by the Loss Modeling team. This license agreement is a testament to the continuing...
Hurricane Dennis’s Bark Was Worse Than Its Bite; Carriers, Associations Evaluating Damages
Jul 12 2005 // As Hurricane Dennis approached Key West, Fla., large insurance carriers, expecting and preparing for the worst, alerted hundreds of adjusters to proceed to Florida and Alabama, and put hundreds of other employees on...
Safeco Team Deployed to 3 States for Hurricane Dennis
Jul 12 2005 // Seattle-based Safeco’s National Catastrophe Team has deployed additional claims professionals to Alabama, Florida and Georgia to aid customers recovering from Hurricane Dennis. Safeco’s claims personnel are...
Hurricane Center Watching Tropical Storm Emily
Jul 12 2005 // Tropical Storm Emily, the fifth named storm of the Atlantic hurricane season, developed late on Monday but was still far out in the ocean and several days away from posing a threat to any inhabited areas. Emily, given...
Fitch Reports Hurricane Dennis Could Have Implications for Fla. Market
Jul 12 2005 // Chicago-based Fitch Ratings states that Hurricane Dennis is expected to represent a material loss to the insurance industry. Dennis came ashore on Sunday, July 10, at 3:25 p.m., on Santa Rosa Island, Fla., as a Category 3...
Fla. CAT Fund Has $3B Available for Hurricane Claims
Jul 12 2005 // Almost $3 billion is available to pay for claims from Hurricane Dennis and any other storms that may hit the state according to Mike McCauley, a spokesman for the Florida Hurricane Catastrophe Fund. Risk assessment groups...
Citizens Activates Hotline, Dispatches Response Unit; Only a Few FAIA Agents Report Damage
Jul 11 2005 // Citizens Property Insurance Corp. reports it has set up its “storm claims hotline,” and has dispatched a claims response unit to Milton, Fla.; while the Florida Independent Insurance Agents reports most of its...
Mercury Group Teams Mobilize to Help Victims of Hurricane Dennis
Jul 11 2005 // Mercury Insurance Group emergency response teams have mobilized to support its policyholders with claims resulting from Hurricane Dennis. The response teams are now in place and prepared to immediately deploy to impacted...
Hurricane Dennis’ Insured Losses Estimated to Reach $2.5 Billion
Jul 10 2005 // AIR Worldwide estimates insured losses in the United States from Hurricane Dennis will be between $1 billion to $2.5 billion. Although Dennis made landfall in the same region as Hurricane Ivan in 2004, insured losses from...
Florida Select Activates Toll-Free Hurricane Line
Jul 10 2005 // Sarasota, Fla.-based Florida Select Insurance Company has activated a toll free line 1-888-700-0101–to give its customers immediate information about Hurricane Dennis and how to file claims. Florida Select, a...
NAIC Emphasizes Need for Federal Terrorism Backstop
Jul 8 2005 // National Association of Insurance Commissioners (NAIC) warns that significant market disruptions could develop with the Federal Terrorism Risk Insurance Act’s (TRIA) expiration on Dec. 31, 2005, the law’s...
ABI Bulletin on London Bombings; Insurer Reactions
Jul 8 2005 // As rescue workers continue to search for the dead and missing, and London begins the long slow process of recovery from yesterday’s devastating bomb blasts that killed at least 37 people and injured over 700, the...
Category 4 Hurricane Dennis; Batters Cuba, Eyes Fla.
Jul 8 2005 // Hurricane Dennis has become a powerful storm of Ivan like proportions. As it churned through the warm waters of the Caribbean, Dennis picked up strength and size. The latest report from Miami’s National Hurricane...
London Death Toll Tops 50; Search on for Bodies, Answers
Jul 8 2005 // One day after four bombs struck at the heart of London’s morning rush hour, authorities were still finding bodies and searching for clues as the death toll has reportedly topped 50 people. Al Qaeda is still the main...
Ala. Preps for Hurricane Dennis
Jul 8 2005 // As the Alabama Independent Insurance Agents (AIIA) noted, it looks like Alabama is not going to catch any breaks this year when it comes to hurricanes. AIIA wants to help its members and their customers prepare for the...
