Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
AIA: Momentum Reportedly Growing to Extend Terrorism Insurance Law
Jul 8 2004 // New legislation authored by several House Democrats to extend the Terrorism Risk Insurance Act of 2002 (TRIA) demonstrates strong, bipartisan congressional support for keeping TRIA’s temporary, yet vital, economic...
ISO: Insurers to Pay Policyholders $1.65 Billion for Q2 CAT Claims
Jul 8 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...
18 Die as Typhoon Causes Flooding in Taiwan
Jul 6 2004 // Typhoon Mindulle struck Taiwan over the weekend, bringing torrential rains that caused widespread flooding. I8 people were reported to have died, and another 9 are missing. According to a news report from the BBC, the...
Homeowners in Hurricane Paths Hit with High Insurance Costs
Jul 5 2004 // Retired police officers Ed and Nancy McCue are thinking about leaving their dream home near the shores of Biscayne Bay because it’s in a prime area for hurricanes. It’s not the storm threat itself that’s...
Have Catastrophe Risks’ ‘Bring ‘Em On!’ Says Specialized Writer ICAT
Jul 5 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...
Treasury Dept. Extends ‘Make Available’ Provisions of TRIA
Jul 5 2004 // The U.S. Treasury Department 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...
Survey: Pricing Surpasses Terrorism as Top Concern
Jul 2 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...
NAIC Resolution Asks for TRIA Extension
Jun 25 2004 // The National Association of Insurance Commissioners (NAIC) announced that it has adopted a formal resolution urging Congress to adopt a two-year extension of the Terrorism Risk Insurance Act (TRIA). The resolution, adopted...
AAIS Prepares to File New Terrorism Endorsements
Jun 24 2004 // The American Association of Insurance Services (AAIS), a national insurance advisory organization, announced that it is preparing a countrywide filing of new terrorism endorsements insurers can use in anticipation of the...
Insurer Groups Laud Congressional Effort to Extend TRIA
Jun 23 2004 // At a press conference on Tuesday, four members of the House of Representatives introduced a bill extending the Terrorism Risk Insurance Act (TRIA). Both the American Insurance Association and the National Association of...
FLORIDA CFO WARNS OF HURRICANE PREPAREDNESS:
Jun 21 2004 // With explosive state population growth and experts predicting the formation of more than 12 named Atlantic storms, Florida’s Chief Financial Officer Tom Gallagher issued a warning recently to Floridians to prepare....
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...
