Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
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...
Allstate Study Warns on Coastal Floods
May 26 2004 // Allstate Insurance Company announced that 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...
Fla. CFO Warns of Hurricane Preparedness
May 26 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 is issuing a warning to consumers: Prepare...
La. Commissioner Warns of Preparing for Hurricanes
May 26 2004 // Louisiana Commissioner of Insurance Robert Wooley said checking all of one’s property insurance policies now could help save them from financial ruin during the hurricane season that begins June 1 and stays through...
EQECAT Hurricane Model Certified by Fla. Commission
May 20 2004 // EQECAT Inc., announced that the Florida Commission on Hurricane Loss Projection Methodology (FCHLPM) unanimously re-certified EQECAT’s Hurricane model for use in Florida. The certification was the seventh in a...
Insurers Urge Senate Panel to Extend TRIA
May 18 2004 // Congress should act this year to extend the Terrorism Risk Insurance Act (TRIA) for two years beyond its Dec. 31, 2005, expiration date because the private market alone cannot deal with further catastrophic terrorist...
CONN. TERROR EXCLUSION SIGNING:
May 17 2004 // The American Insurance Association (AIA) has urged Connecticut Gov. John Rowland (R) to sign the legislation (HB 5200) passed on April 30 by the state legislature to create a terrorism exclusion in the Standard Fire...
AIR 2004 U.S. Hurricane Model Certified by Fla. Commission for 8th Straight Year
May 17 2004 // AIR Worldwide Corporation (AIR) announced the certification of its 2004 U.S. Hurricane Model by the Florida Commission on Hurricane Loss Projection Methodology. For the eighth consecutive year the AIR model has been...
Insurers Prepare for a Post-TRIA World; ‘Baby Steps’ Toward Federal Regulation
May 17 2004 // Property/casualty insurers are coming to grips with the fact that a government-sponsored terrorism insurance backstop could expire at the end of next year, which would send pricing shockwaves through the market. Carriers...
Ga. Commissioner Reminds Residents of Hurricane Danger During National Hurricane Awareness Week
May 17 2004 // This week, May 16-22, is National Hurricane Awareness Week, and Georgia Insurance Commissioner John Oxendine is reminding Georgians that they should check their homeowners policy annually to be sure they have adequate...
