Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
MAJORITY OF CALIF. WILDFIRE CLAIMS RESOLVED, SAYS IINC:
Mar 8 2004 // A new insurer survey estimates that roughly three-quarters of claims stemming from the devastating October wildfires have been resolved. A poll by the Insurance Information Network of California of insurers representing...
Terrorism Tops List of Concerns for Workers’ Comp Professionals
Mar 8 2004 // Industry executives in the workers’ compensation field from across the nation gathered in Las Vegas Feb. 5-6 for the 5th Annual AMCOMP (American Society of Workers’ Comp Professionals Inc.) Meeting &...
ATLA, TTLA BLAST TERRORIST LABEL:
Mar 8 2004 // The Association of Trial Lawyers of America (ATLA) demanded a retraction and an apology from American Insurance Group CEO Maurice “Hank” Greenberg for calling them “terrorist trial lawyers” in a...
New Swiss Re Sigma Study Reviews 2003 CAT Losses
Mar 3 2004 // Natural and man-made catastrophes caused the deaths of more than 60,000 people worldwide last year, according to Swiss Re’s latest sigma report. Over two thirds of these were the victims of earthquakes. Overall...
ATLA Blasts Greenberg for Terrorist Remark; TTLA Follows Suit
Feb 27 2004 // The Association of Trial Lawyers of America (ATLA) announced it has demanded a retraction and an apology from American Insurance Group CEO Maurice “Hank” Greenberg for calling them “terrorist trial...
Munich Re Releases 2003 Catastrophe Study
Feb 26 2004 // Munich Re has released its 2003 study of natural catastrophes, which concludes that “after three years of relative calm, no fewer than five great natural catastrophes(based on U.N. criteria) occurred in...
PIACT Opposes Conn. SFP Change
Feb 26 2004 // The Professional Insurance Agents of Connecticut Inc. is also concerned about the proposed changes addressed in House Bill 5200, but disagrees with the position taken by the AIA (see related article). The organization...
RMS Funds Singapore Center to Study Political Violence and Terrorism
Feb 25 2004 // California’s Risk Management Solutions, a provider of products and services for the management of catastrophe risk, announced that it is providing funding for the first visiting research fellowship to be established...
Majority of Calif. Wildfire Claims Resolved, Says IINC
Feb 24 2004 // A new insurer survey estimates that roughly three-quarters of claims stemming from the devastating October wildfires have been resolved. A poll by the Insurance Information Network of California of insurers representing...
Terrorism Insurance … We Can’t Risk Sitting On the Sidelines
Feb 23 2004 // Some have viewed this law as a bailout of a failed insurance industry; we believe just the opposite is true. When Congress passed the Terrorism Risk Insurance Act (TRIA) in 2002, some heralded the act as a panacea for...
Natural Disasters More Severe and More Costly
Feb 23 2004 // According to a recently released report from Munich Re, fatalities caused by natural catastrophes were up 450 percent in 2003, while insured losses reached $15 billion. More ominous was the reinsurer’s conclusion...
ISO’s A-PLUS Unit Unveils Service in Fight Against Terrorism
Feb 18 2004 // Insurance Services Office, Inc.’s (ISO) A-PLUS unit has unveiled a new service insurers can use to cross-check policyholders against a U.S. Department of the Treasury master watch list to ensure that customers are...
CAT Securitizations in 2003 Reveal Increased Innovation, Modest Growth in Volume
Feb 6 2004 // Risk Management Solutions (RMS), a provider of products and services for the management of catastrophe risk, has completed a review of catastrophe securitizations that were placed in 2003. Considering publicly available...
PCI Disappointed with Maine’s Failure to Reform Fire Policy on Terrorism
Feb 6 2004 // The Property Casualty Insurers Association of America issued a bulletin stressing its disappointment with a decision by the Joint Standing Committee on Insurance and Financial Services in Maine not to support passage of...
Chubb Reports Q4 Net Income of $72.3 Million
Feb 5 2004 // The Chubb Corporation reported that net income in the fourth quarter of 2003 was $72.3 million or $0.38 per share, compared to net income of $56.6 million or $0.33 per share in the fourth quarter of 2002. Operating income,...
Natural Disasters More Severe and More Costly
Jan 26 2004 // According to a recently released report from Munich Re, fatalities caused by natural catastrophes were up 450 percent in 2003, while insured losses reached $15 billion. More ominous was the reinsurer’s conclusion...
Earlybird Forecast for 2004: Street Sees Premium Growth in Store
Jan 26 2004 // Each year the Insurance Information Institute invites a panel of Wall Street stock analysts and industry professionals to review the prospects for the industry in the current and coming year. The survey reveals that the...
PCI to Testify at Md. Hurricane Claims Briefing
Jan 26 2004 // The Property and Casualty Insurers Association of America and two of its member companies are scheduled to testify at Tuesday’s legislative briefing in Maryland on insurance aspects related to Hurricane Isabel. PCI...
Natural Disasters More Severe and More Costly
Jan 26 2004 // According to a recently released report from Munich Re, fatalities caused by natural catastrophes were up 450 percent in 2003, while insured losses reached $15 billion. More ominous was the reinsurer’s conclusion...
Catastrophes Set the Stage for the Marine Insurance Marketplace
Jan 26 2004 // Marine insurance suffered its worst year on record in 2002, and while 2003 showed some minor improvement, it too suffered more that its fair share of catastrophes. The most notable of catastrophes in the marine marketplace...
