Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
RMS: Hurricane Charley Insured Losses Could Top $15 Billion as Storm Moves
Aug 13 2004 // Risk Management Solutions (RMS), a provider of products and services for the management of catastrophe risk, has updated its forecast and loss estimates (See National news) for Hurricane Charley to reflect changes in the...
Hurricane Charley Heads for U.S. Mainland
Aug 12 2004 // As of 8:00 this morning Hurricane Charley was passing over Western Cuba, and the National Hurricane Center in Miami puts the storm on a track to strike Central Florida by tomorrow morning. Residents (and their insurers) in...
Fla. Residents Brace Themselves for Charley’s Visit
Aug 12 2004 // Residents of coastal areas can take steps now to make the insurance claims process move smoothly should their property be damaged by Hurricane Charley, according to the Insurance Information Institute (I.I.I.). According...
RMS: Direct Charley Hit Losses Could Top $10 Billion
Aug 12 2004 // Risk Management Solutions (RMS), a provider of products and services for the management of catastrophe risk, on Thursday warned that insured losses in the U.S. could exceed $10 billion if Hurricane Charley follows the...
Charley Threatens Caribbean Islands
Aug 11 2004 // The latest advisory bulletin from the National Hurricane Center in Miami reports that Tropical Storm Charley is continuing rapidly west-northwestward toward Jamaica and that a tropical storm warning and a hurricane watch...
Summer in the City: Unconventional Insurance and Olympian Security in Age of Terrorism Risk
Aug 10 2004 // A little more than a year ago, Britain’s Prince William celebrated his 21st birthday with a costume party at Windsor Castle. While William was addressing the partying crowd, a stranger wearing a black beard, white...
DRI Calls on Congress for 2-Year Extension of TRIA
Aug 10 2004 // The national defense bar organization, DRI – The Voice of the Defense Bar, is calling on Congress to support a two-year extension of the Terrorism Risk Insurance Act of 2002 (TRIA). The insurance legislation, which...
AIR Releases 2004 U.S. Storm, Terrorism Models
Aug 9 2004 // AIR Worldwide Corporation (AIR) 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...
Summer in the City: Terrorism, Political Conventions and the Olympics
Aug 9 2004 // A little more than a year ago, Britain’s Prince William celebrated his birthday with a costume party at Windsor Castle. While William was addressing the partying crowd, a stranger wearing a black beard, white turban...
Fitch Reports Fla. Hurricane CAT Fund Upgraded
Aug 4 2004 // The authorized bonding program of the Florida Hurricane Catastrophe Fund (FHCF) has been upgraded to ‘AA’ from ‘A+’. The FHCF provides reinsurance coverage of up to $15 billion per hurricane season,...
North Carolina Coast Takes on Hurricane Alex
Aug 3 2004 // With maximum sustained winds of almost 100 miles per hour, tropical storm-turned-Hurricane Alex is moving along the coast of North Carolina toward the Outer Banks, and local property owners should take some basic...
NAMIC Encourages Legislators to Back TRIA Extension
Jul 30 2004 // Calling terrorism an “uninsurable social risk,” the legal and regulatory affairs director of the National Association of Mutual Insurance Companies (NAMIC) has encouraged the American Legislative Exchange...
Florida Sen. Nelson Unveils Measure to Reduce Hurricane Losses
Jul 27 2004 // U.S. Sen. Bill Nelson of Florida, who helped rebuild the state’s insurance market following Hurricane Andrew, has unveiled legislation aimed at reducing the loss of life and property caused by hurricanes, tornadoes...
ACE USA Unveils Hurricane Spin-down Coverage for Chemical Plants, Refineries, Related Industries
Jul 27 2004 // ACE USA, the U.S.-based retail operating division of The ACE Group of Companies, has introduced hurricane spin-down insurance that can be used by the chemical process industry to help reduce the financial costs of closing...
PCI: Senate Bill Reflects Importance of TRIA Extension to American Economy
Jul 25 2004 // The introduction of a bipartisan Senate bill to extend the Terrorism Risk Insurance Act (TRIA) for two years is encouraging news and demonstrates the widespread understanding among members of Congress that the economic...
AIA: Senate Bill Boosts Momentum to Extend Terrorism Insurance Law
Jul 22 2004 // The introduction of legislation in the Senate on Thursday to extend the Terrorism Risk Insurance Act of 2002 (TRIA) by two years “adds to the momentum for congressional action in 2004, and demonstrates bipartisan...
Safeco Posts Strong Profits in All Major P/C Segments
Jul 20 2004 // Seattle-based Safeco announced strong second-quarter results, reflecting the company’s solid underwriting and the competitive strength of its automated sales platform. In addition, weather-related catastrophe losses...
ISO: INSURERS TO PAY OUT $1.65 BILLION FOR Q2 CAT CLAIMS:
Jul 19 2004 // U.S. property/casualty insurers are expected to pay homeowners and businesses an estimated $1.65 billion for insured property-loss claims from six catastrophes affecting 23 states in the second quarter, according to...
SURVEY: PRICING SURPASSES TERRORISM AS TOP CONCERN:
Jul 19 2004 // An industry survey reveals that pricing is the top of concern facing major reinsurers and carriers in 2004, dramatically surpassing last year’s survey results where the top concern was terrorism. According to the...
Wildfire Victims Question Industry’s Cost Calculator
Jul 19 2004 // Don Robinson says his Residence Mutual insurance policy pegged the cost of replacing his San Diego home at $233,000. After Southern California’s wildfires destroyed the 40-year-old biologist’s four bedroom...
