Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
ALLSTATE STUDY WARNS ON COASTAL FLOODS:
Jun 21 2004 // Allstate Insurance Company said a study it conducted in 2003 identified more than 750,000 homes in coastal hurricane states that may not have flood insurance. The study looked at current Allstate homeowners insurance...
Survey: Lack of Terror Coverage Would Hurt Commercial Mortgage Market
Jun 21 2004 // A new survey indicates that only 20 percent of commercial real estate portfolios would retain terrorism coverage if the requirement that insurers make it available is lifted, down from 83.5 percent. The survey by mortgage...
Entertainment, Terrorism Don’t Mix
Jun 21 2004 // I don’t know about you, but I love to attend concerts, festivals, sporting events… just about anything that draws a big crowd. The mass gathering of people brings to the event a certain excitement that smaller...
Entertainment and Terrorism Don’t Mix
Jun 21 2004 // I don’t know about you, but I love to attend concerts, festivals, sporting events… just about anything that draws a big crowd. The mass gathering of people brings to the event a certain excitement that smaller...
Treasury Dept. Extends ‘Make Available’ Provisions of TRIA
Jun 18 2004 // The U.S. Treasury Department has announced its decision to extend the “make available” provisions of the Terrorism Risk Insurance Act (TRIA) through 2005, the third year of the federal Terrorism Risk Insurance...
Converium Announces $100 Million Cat Bond Placement
Jun 16 2004 // Converium Ltd., the Swiss-based reinsurer, announced the successful private placement of $ 100 million of floating rate notes issued by Helix 04 Limited, a Bermuda special purpose exempted company. The notes have been...
AIR Provides Modeling Support for Helix Catastrophe Bond Launched by Converium
Jun 15 2004 // AIR Worldwide Corporation (AIR) announced it has performed the risk modeling and analysis in support of a private placement by Helix 04 Limited, a Bermuda special purpose exempted company. The five year, $100 million...
New R.I. Law Allows Terrorism Exclusion for Certain Commercial Risks
Jun 14 2004 // A new Rhode Island law allows for a terrorism exclusion from the Standard Fire Policy (SFP) for certain commercial risks. The new law, which became effective last week, amends the state’s Special Commercial Risk...
Industry Coalition Praises Regulators’ Resolution to Support Terrorism Act Extension
Jun 14 2004 // A broad-based coalition of property/casualty insurance company, insurance producer and reinsurance trade associations commended the National Association of Insurance Commissioners (NAIC) for adopting a resolution...
Condo Associations Join Call for TRIA Renewal
Jun 11 2004 // A national organization representing 250,000 community and condominium associations is urging the U.S. Department of Treasury to extend and expand provisions of a law that enable community associations to obtain reasonably...
EQECAT Releases High Resolution Tornado/Hail Catastrophe Model; Cites Potential $11 Billion Loss
Jun 10 2004 // Oakland Calif.-based EQECAT, Inc. has announced the release of its U.S. Tornado/Hail/Straight Wind model, for assessing and managing insurance risk associated with these key natural hazard perils. The bulletin noted that...
IEM to Lead Development of Hurricane Plan for Louisiana
Jun 9 2004 // IEM Inc., a Baton Rouge, La.-based emergency management and homeland security consultant, announced it will lead the development of a catastrophic hurricane disaster plan for Southeast Louisiana and the City of New Orleans...
Survey: Lack of Terror Coverage Would Hurt Commercial Mortgage Market
Jun 8 2004 // A new survey indicates that only 20 percent of commercial real estate portfolios would retain terrorism coverage if the requirement that insurers make it available is lifted, down from 83.5 percent. The survey by mortgage...
TENNESSEE SENATORS NOTE $10.9 MILLION IN HUD DISASTER ASSISTANCE ON TORNADO ANNIVERSARY:
Jun 7 2004 // U.S. Senators Bill Frist (R-Tenn.) and Lamar Alexander (R-Tenn.) recently announced that the City of Jackson will receive $10.9 million from the Department of Housing and Urban Development to help rebuild public housing...
Summer Means Wild Weather in Some Western States
Jun 7 2004 // Summer is here and with it comes unstable weather conditions that can cause problems for consumers and agents alike in some parts of the United States. As if ushering in the season, insurers and insurance organizations are...
Could the California Wildfires Have Been Predicted’
Jun 7 2004 // Lessons for Agents and Insurers In late October 2003, major wildfires broke out in five southern California counties, burning more than 750,000 acres, or an area the size of Rhode Island. These devastating fires burned for...
RMS Expands Services for Hurricane Season
Jun 2 2004 // According to a bulletin from Newark, Calif.-based Risk Management Solutions, threats from hurricanes will remain high this season, which officially began yesterday. The company, one of the world’s leading providers...
ICT: Flooding is Hurricane Season’s Real Danger
Jun 2 2004 // As all eyes turn toward the Gulf of Mexico at the start of the 2004 hurricane season, the Insurance Council of Texas issued a reminder to Texans that they should beware of the potential for deadly floodwaters across the...
Tornadoes Rip Through Storm-Weary Midwest
Jun 1 2004 // Powerful storms again swept across the Midwest, downing trees and power lines and spawning twisters that leveled houses and barns and sent mobile homes hurtling through the air. In Marengo, Ind., a town of 800 about 35...
Conn. Gov. Rowland Signs Terror Exclusion Law
May 27 2004 // Connecticut Gov. John Rowland (R) has signed into law important legislation to create a terrorism exclusion in the state’s Standard Fire Policy (SFP). The American Insurance Association (AIA), among other industr...
