Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
RMS Estimates Ivan Insured Losses at $3-$6 Billion
Sep 22 2004 // Risk Management Solutions (RMS), a provider of products and services for the management of catastrophe risk, said that insured losses in the U.S. from Hurricane Ivan are expected to be between $3 and $6 billion. RMS’...
A Hurricane Season of Discontent; Lessons Learned in 2004
Sep 22 2004 // Prior to 2004, Florida had gone for five years without a significant hurricane. So it is of little surprise that the onslaught of this year’s three major hurricanes has caught all of us in the insurance industry a...
Oh, Mother!
Sep 20 2004 // Just before Charley and Frances wreaked havoc on Florida and surrounding states, the National Oceanic and Atmospheric Administration (NOAA) reiterated its original spring 2004 Atlantic hurricane outlook by calling for 12...
AIR Releases 2004 U.S. Storm, Terrorism Models
Sep 20 2004 // AIR Worldwide Corp. announced the release of its 2004 U.S. hurricane, earthquake, severe thunderstorm and terrorism models. The updated models reflect the latest scientific and engineering research into these perils, as...
Hurricanes Equal Crunch Time for Reinsurers
Sep 20 2004 // High-tech charts and up-to-the-minute data meticulously track Hurricane Frances as employees run storm simulations that pop out specific damage estimates for certain zip codes. The office is not run by a federal disaster...
Insurance Industry Hopes to Extend TRIA in Time for 2005 Policies
Sep 20 2004 // But Not Everyone Thinks Renewing the Federal Backstop is a Good Idea Regardless of whether George W. Bush is re-elected or John Kerry moves into the White House, the property/casualty insurance industry appears to have a...
Hurricanes Mean Crunch Time for Reinsurance Industry
Sep 20 2004 // High-tech charts and up-to-the-minute data meticulously track Hurricane Frances as employees run storm simulations that pop out specific damage estimates for certain zip codes. This office in Atlanta is not run by a...
Charley vs. Andrew: One Person’s Perspective
Sep 20 2004 // Twelve years ago last month, Hurricane Andrew hit Homestead and became the costliest natural disaster in U.S. history. Sadly, on this anniversary, thousands of Floridians again suffered the aftermath of another...
Hurricane Spin-down Coverage
Sep 20 2004 // Nuts & Bolts: ACE USA, the U.S.-based retail operating division of the ACE Group of Companies, introduced hurricane spin-down insurance that can be used by the chemical process industry to help reduce the financial...
CAT Modelers: Ivan’s Estimated Losses Up to $10B
Sep 20 2004 // Initial estimated insured losses from Hurricane Ivan range from about $2 billion to about $10 billion, according to catastrophe modelers Eqecat, Inc. The estimated range of insured losses takes into account Category 3...
Safeco Estimates Losses from Hurricane Frances
Sep 20 2004 // Seattle-based Safeco announced that its pretax catastrophe losses stemming from Hurricane Frances are estimated at $28 million. This figure represents the estimated losses both from claims received through Sept. 20, 2004...
PCI Claims Hurricane Ivan Proves Need for Tougher Fla. Building Code
Sep 20 2004 // Last month’s decision by the Florida Building Commission to add more stringent wind provisions to the Florida Building Code was reportedly especially perceptive in the wake of three – and possibly four –...
Surplus Line Carriers
Sep 20 2004 // First Responders Once upon a time, the excess and surplus line market was the safety valve of the insurance industry—the more lightly regulated, more financially shaky little brother to the admitted market. It was said...
Insurers Hope to Put Off TRIA’s Sunset
Sep 20 2004 // Regardless of whether President George W. Bush is re-elected or John Kerry moves into the White House, the property/casualty insurance industry appears to have a good chance of getting its wishes when it comes to extending...
IAIABC Panel Takes Fresh Look at Terrorism
Sep 20 2004 // In a code orange New York, the International Association of Industrial Accident Boards and Commissions (IAIABC) took a fresh look at terrorism and its relation to workers’ compensation at its recent 90th Annual...
Ivan Not Finished With U.S.; I.I.I. Reports on Florida Hurricane Damage
Sep 18 2004 // While he lost his hurricane designation several days ago, what was Hurricane Ivan continued to bring misery to the United States, spawning more tornadoes and drenching areas from Georgia up through Pennsylvania in the last...
RMS: Potential Losses for Hurricane Ivan, $2 to $7 Billion
Sep 17 2004 // Risk Management Solutions (RMS), reported that insured losses from Hurricane Ivan in the U.S. are likely to range from $2 to $7 billion, based on updated information on landfall location and wind speeds. Additional insured...
Fitch Estimates Ivan May Become Second Costliest Hurricane For U.S. P/C Insurers
Sep 17 2004 // Chicago-based Fitch Ratings has issued some preliminary comments on the extent of the losses from Hurricane Ivan’s destructive rampage through Alabama, Florida and other Gulf Coast States. Fitch noted that...
Jeanne Heads for Bahamas; Karl on the Horizon as South Regroups
Sep 17 2004 // After briefly gaining hurricane strength, Tropical Storm Jeanne’s wind speed slowed as it drifted West-Northwestward along the north coast of Hispaniola. Even the comparatively slow winds – around 65 mph (104...
Florida CFO Reports Progress in Emergency Response Efforts in Wake of Hurricane Ivan
Sep 17 2004 // Florida’s Chief Financial Officer Tom Gallagher, who also serves as the State Fire Marshal, on Friday offered an update on search and rescue efforts and thanked emergency responders for their crucial, life-saving...
