Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
The Midland Co. Projects Frances Losses
Sep 10 2004 // The Midland Company, an Ohio-based provider of specialty insurance products and services, today reported projected losses from Hurricane Frances. “Based on the information received to date, we expect to incur pre-tax...
Ivan Leaves 15 Dead in Lesser Antilles; Category 5 Storm Heads for Jamaica, Cuba, U.S.
Sep 9 2004 // At least 9 persons were reported to have died on the Caribbean Island of Grenada, following a direct hit from Hurricane Ivan. A report from the BBC, delayed because of damage to communications facilities, said that 90...
PCI: Hurricanes Prove Commercial Insurance Value
Sep 9 2004 // The Property Casualty Insurers Association of America has issued a bulletin, which notes: “Business owners who debate the need for insurance coverage can learn a valuable lesson from Hurricanes Charley and...
AIR Worldwide Reports Fla. Losses at $5 Billion to $10 Billion from Frances
Sep 9 2004 // While significantly less intense than Hurricane Charley in terms of sustained wind speeds at landfall, AIR Worldwide estimates that total insured losses for Florida from Frances will fall within a very similar range:...
S&P Analyzes Potential Impact of Q3 Hurricanes; Questions Catastrophe Models
Sep 8 2004 // Standard & Poor’s Ratings Services has issued a prelimlinary report on the series of hurricanes, notably Frances and Charley, which have struck the U.S. S&P indicated: “Although it’s still too...
Swiss Re Estimates Aggregate Claims for Hurricanes Charley and Frances to be Under $300 million
Sep 8 2004 // Swiss Re announced that based on current estimates, it expects that its aggregate claims related to the hurricanes Charley and Frances will be under $300 million before tax. The reinsurer’s estimate on Hurricane...
Hard-Hit Floridians Can Turn to FEMA Grants, SBA Loans to Recover From Hurricanes
Sep 8 2004 // While insurance payments will reportedly help most Floridians recover from the financial losses inflicted by Hurricanes Charley and Frances, government grants and low interest loans will be available to help pay for the...
Cunningham Lindsey U.S. Adds Resources in Fla.
Sep 8 2004 // Dallas-based Cunningham Lindsey U.S. Inc. (CLUS) announced that in the wake of historic dual hurricanes in Florida, it has mobilized additional experienced claims professionals, supervisors and support staff into the...
Powerful Hurricane Ivan Ravages Caribbean Islands; Could Strike U.S.
Sep 8 2004 // Hurricane Ivan continued its destructive path through the Southeastern Caribbean yesterday, pummeling Grenada, Barbados and Tobago with 120 mph (195km/hr) winds before moving back over open water. No deaths have so far...
Hurricane Ivan Threatens Caribbean Islands
Sep 7 2004 // Miami’s National Hurricane Center warned that Ivan is a “dangerous hurricane,” and is becoming “better organized as it rapidly approaches the Windward Islands,” triggering hurricane...
Guy Carpenter Unveils Enhanced Version of CASUS Catastrophe Model
Sep 7 2004 // Guy Carpenter & Co. Inc. announced the launch of an enhanced version of CASUS, the industry’s first and only model for analyzing unknown accumulations in workers’ compensation, group life, accident and...
21st Century Notes Frances Losses
Sep 7 2004 // Florida-based 21st Century Holding Co. has reported losses related to Hurricane Frances which made its way through the Sunshine State in recent days. Edward (Ted) Lawson, president and chairman of the Board of 21st Century...
Vesta Insurance Group Notes Frances Sub Losses
Sep 7 2004 // Alabama-based Vesta Insurance Group Inc. announced that its Florida Select subsidiary expects to incur losses between $5.0 and $10.0 million, net of reinsurance, from Hurricane Frances. In addition, the company has...
Three Years Later: Industry Rebuilds from 9/11, But Doesn’t Forget
Sep 6 2004 // Robert Hartwig, senior vice president and chief economist for the Insurance Information Institute (I.I.I.), knows that while Tuesday, Sept. 11, 2001, will never be forgotten both inside and outside the insurance industry,...
Charley Causes a Path of Destruction in Florida, Carolinas
Sep 6 2004 // Lessons from Andrew Taught Industry to “Be Prepared” Lessons learned from the most costly natural disaster in U.S. history more than prepared the insurance industry for the destruction left by Hurricane...
Have Catastrophe Risks’ ‘Bring ‘Em On!’ Says Specialized Writer ICAT
Sep 6 2004 // The map shows a thin blue line skirting the edge of the Gulf and Atlantic coasts from Louisiana around Florida and all the way up to Maine to highlight the hurricane states. The blocks of red across the Western territories...
COLORADO HAILSTORMS CAUSE MILLIONS OF DOLLARS IN DAMAGE:
Sep 6 2004 // A Colorado hailstorm left farmers and residents with damage amounting to millions of dollars, according to the Rocky Mountain Insurance Information Association. The insurance industry estimated that the hailstorms that...
SAFECO ESTIMATES LOSSES FROM HURRICANE CHARLEY:
Sep 6 2004 // Seattle-based Safeco announced that claims stemming from Hurricane Charley are estimated at $45 million in pre-tax catastrophe losses. This figure represents the estimated losses both from claims received through Aug. 24,...
Have Catastrophe Risks’ ‘Bring ‘Em On!’ Says Specialized Writer ICAT
Sep 6 2004 // The map shows a thin blue line skirting the edge of the Gulf and Atlantic coasts from Louisiana around Florida and all the way up to Maine to highlight the hurricane states. The blocks of red across the Western territories...
Caribbean Islands Brace for Another Hurricane; Ivan Now a Category 4 Storm
Sep 6 2004 // Predictions of a “busy” hurricane season are proving all too true. While Frances is still churning the waters of the Gulf of Mexico off the Florida panhandle, Ivan continues to gather strength off the coast of...
