Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Insurance Industry Meets Challenge As Hurricanes Tear Through Southeast
Oct 11 2004 // National and state insurance industry associations reacted speedily as hurricanes Charley, Ivan, Frances and Jeanne tore through the southeast — all four landing in Florida and continuing on to devastate states as...
CLEANUP BEGINS AFTER HURRICANE JEANNE:
Oct 11 2004 // At least six people were killed by the fourth hurricane to hit the state in six weeks. After Hurricane Jeanne came ashore in Fort Pierce, the east coast was pummeled with 120 mph winds, while by the time she crossed over...
$13 TO $15 B HURRICANE DAMAGE LOSSES ESTIMATED:
Oct 11 2004 // The triple-whammy hits of hurricanes Ivan, Frances and Charley combined probably produced about $13 billion to $15 billion in losses, according to catastrophe modeler Risk Management Solutions of Newark, Calif. The losses...
MOBILE HOMES BEAR BRUNT OF HURRICANE DAMAGE IN FLORIDA:
Oct 11 2004 // Despite improvements in construction and safety standards since Hurricane Andrew, damage to mobile homes in the paths of recent hurricanes was significant according to the Property Casualty Insurers Association of America...
HURRICANES PROVE COMMERCIAL INSURANCE’S VALUE:
Oct 11 2004 // Business owners who debate the need for insurance coverage have learned an invaluable lesson from hurricanes Charley and Frances, according to the Property Casualty Insurers Association of America (PCI). In the aftermath...
Dusk Delayed as House Takes First Step Toward Extending TRIA’s Sunset
Oct 11 2004 // 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 good chance of getting its wishes when it comes to extending the...
Remember the Lessons of Hurricane Andrew
Oct 11 2004 // Due to efforts to rebuild the Florida property insurance market after Hurricane Andrew, most policyholders in the wake of 2004s more costly hurricane season should not face the same post-Andrew price increases or limited...
Amlin Estimates Net Losses from Hurricanes and Typhoons at $133 Million
Oct 10 2004 // Amlin, a leading Lloyd’s insurer, has released its estimates for losses relating to Hurricanes Charley, Frances, Ivan and Jeanne, together with Typhoon Songda, indicating that gross claims are around $263 million...
Big ‘I’ Concerns: Insurance CEOs Cite Terrorism, Asbestos, Tort Reform
Oct 10 2004 // Terrorism, asbestos and tort reform will be key industry concerns according to five insurance company chief executive officers participating in a panel discussion during the Oct. 9 to 12 Convention held by the Independent...
Platinum Estimates Q3 Net Impact From Recent Hurricanes at Approximately $130 Million
Oct 8 2004 // Bermuda-based Platinum Underwriters Holdings, Ltd. announced that, based on currently available information, it estimates the net after-tax negative impact on third quarter results from Hurricanes Charley, Frances, Ivan...
Fla. Policyholders Being Dropped After Hurricanes
Oct 8 2004 // After going through four hurricanes, some residents have reportedly been dropped by their insurance company. But before an insurance company can drop or change someone’s policy, there are legal steps they must take...
PIA National Unveils Grassroots Action to Ensure Passage of Terrorism Insurance Extension
Oct 8 2004 // The National Association of Professional Insurance agents (PIA) has launched a nationwide grassroots action campaign to urge Congress to pass a two-year extension of the Terrorism Risk Insurance Act of 2002. The grassroots...
Swiss Re Estimates Hurricane Jeanne Claims at Around $150 Million
Oct 7 2004 // Swiss Re announced that, based on current estimates, it expects claims related to Hurricane Jeanne to be approximately $150 million before tax. The bulletin noted that Jeanne was the “fourth hurricane to make...
Everest Re Holdings Estimates Hurricane, Typhoon Losses at Around $120 Million
Oct 7 2004 // Everest Reinsurance Holdings, Inc., a wholly owned subsidiary of Bermuda’s Everest Re Group, Ltd. announced that its share of the aggregate estimated losses previously announced by the Group from the Florida...
S&P Sees Limited Impact of Typhoons on Japanese P/C Insurers’ Ratings
Oct 7 2004 // Standard & Poor’s Ratings Services indicated that the impact of damage caused by typhoons in 2004 on Japanese non-life insurers is likely to be limited, owing to reinsurance indemnities and catastrophe loss...
The Midland Co. Projects Q3 Profit Despite Hurricanes
Oct 7 2004 // The Midland Company, a Cincinnati-based provider of specialty insurance products and services, has projected a third quarter profit, despite volatile weather conditions during the quarter. “We are anticipating...
Vesta Offers Preliminary Hurricane Loss Estimates
Oct 7 2004 // Alabama-based Vesta Insurance Group Inc. announced that its gross loss, before reinsurance, from Hurricane Ivan is expected to be in the range of approximately $7.0 to $12.0 million and approximately $23.0 to $37.0 million...
Wellington Puts Hurricane Losses at $27 Million
Oct 6 2004 // U.K. Lloyd’s insurer Wellington Underwriting plc announced that the net impact on the Group’s profit before tax for 2004 from the recent hurricanes would be approximately £15 million ($27 million). Wellington...
PXRE Estimates Hurricane Losses at $80-$105 Million
Oct 6 2004 // PXRE Group Ltd. announced from Bermuda that it estimates it will incur claims from Hurricanes Charley, Frances, Ivan and Jeanne, net of reinsurance recoverables, reinstatement premiums, and taxes, of $80 to $105 million....
Arch Estimates Q3 Hurricanes and Typhoon Impact at Around $140 Million
Oct 6 2004 // The Bermuda-based Arch Capital Group Ltd. announced that, based upon current estimates, it expects net losses, on an after-tax basis, resulting from Hurricanes Charley, Frances, Ivan and Jeanne and Typhoon Songda to impact...
