Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Swiss Re Estimates Aggregate Claims for Hurricanes Charley and Frances to be Under $300 million
Sep 8 2004 // Swiss Re announced that based on current estimates, it expects that its aggregate claims related to the hurricanes Charley and Frances will be under $300 million before tax. The reinsurer’s estimate on Hurricane...
Hard-Hit Floridians Can Turn to FEMA Grants, SBA Loans to Recover From Hurricanes
Sep 8 2004 // While insurance payments will reportedly help most Floridians recover from the financial losses inflicted by Hurricanes Charley and Frances, government grants and low interest loans will be available to help pay for the...
Cunningham Lindsey U.S. Adds Resources in Fla.
Sep 8 2004 // Dallas-based Cunningham Lindsey U.S. Inc. (CLUS) announced that in the wake of historic dual hurricanes in Florida, it has mobilized additional experienced claims professionals, supervisors and support staff into the...
Powerful Hurricane Ivan Ravages Caribbean Islands; Could Strike U.S.
Sep 8 2004 // Hurricane Ivan continued its destructive path through the Southeastern Caribbean yesterday, pummeling Grenada, Barbados and Tobago with 120 mph (195km/hr) winds before moving back over open water. No deaths have so far...
Hurricane Ivan Threatens Caribbean Islands
Sep 7 2004 // Miami’s National Hurricane Center warned that Ivan is a “dangerous hurricane,” and is becoming “better organized as it rapidly approaches the Windward Islands,” triggering hurricane...
Guy Carpenter Unveils Enhanced Version of CASUS Catastrophe Model
Sep 7 2004 // Guy Carpenter & Co. Inc. announced the launch of an enhanced version of CASUS, the industry’s first and only model for analyzing unknown accumulations in workers’ compensation, group life, accident and...
21st Century Notes Frances Losses
Sep 7 2004 // Florida-based 21st Century Holding Co. has reported losses related to Hurricane Frances which made its way through the Sunshine State in recent days. Edward (Ted) Lawson, president and chairman of the Board of 21st Century...
Vesta Insurance Group Notes Frances Sub Losses
Sep 7 2004 // Alabama-based Vesta Insurance Group Inc. announced that its Florida Select subsidiary expects to incur losses between $5.0 and $10.0 million, net of reinsurance, from Hurricane Frances. In addition, the company has...
Three Years Later: Industry Rebuilds from 9/11, But Doesn’t Forget
Sep 6 2004 // Robert Hartwig, senior vice president and chief economist for the Insurance Information Institute (I.I.I.), knows that while Tuesday, Sept. 11, 2001, will never be forgotten both inside and outside the insurance industry,...
Charley Causes a Path of Destruction in Florida, Carolinas
Sep 6 2004 // Lessons from Andrew Taught Industry to “Be Prepared” Lessons learned from the most costly natural disaster in U.S. history more than prepared the insurance industry for the destruction left by Hurricane...
Have Catastrophe Risks’ ‘Bring ‘Em On!’ Says Specialized Writer ICAT
Sep 6 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...
COLORADO HAILSTORMS CAUSE MILLIONS OF DOLLARS IN DAMAGE:
Sep 6 2004 // A Colorado hailstorm left farmers and residents with damage amounting to millions of dollars, according to the Rocky Mountain Insurance Information Association. The insurance industry estimated that the hailstorms that...
SAFECO ESTIMATES LOSSES FROM HURRICANE CHARLEY:
Sep 6 2004 // Seattle-based Safeco announced that claims stemming from Hurricane Charley are estimated at $45 million in pre-tax catastrophe losses. This figure represents the estimated losses both from claims received through Aug. 24,...
Have Catastrophe Risks’ ‘Bring ‘Em On!’ Says Specialized Writer ICAT
Sep 6 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...
Caribbean Islands Brace for Another Hurricane; Ivan Now a Category 4 Storm
Sep 6 2004 // Predictions of a “busy” hurricane season are proving all too true. While Frances is still churning the waters of the Gulf of Mexico off the Florida panhandle, Ivan continues to gather strength off the coast of...
OOF! Frances Hits Florida; Damages Widespread, But Less Than Feared
Sep 6 2004 // Hurricane Frances finally came ashore late Saturday night, after what seemed like an interminable waiting period for most Floridians, especially those on the East Coast. The giant storm packed hurricane force winds as far...
Dual Hurricanes Will Challenge Claims Handling Process
Sep 3 2004 // The historic one-two punch of Hurricanes Frances and Charley will make the claims handling process in Florida more difficult, but still manageable, according to the Insurance Information Institute (I.I.I.) The I.I.I....
A.M. Best Comments on Potential Rating Implications from Hurricane Frances
Sep 3 2004 // A.M. Best Co. has recently taken rating actions on several Florida insurance companies in response to their reduced risk-adjusted capitalization due to losses from Hurricane Charley, as well as potential exposure to...
RMS Estimates Potential Losses Ranging from $2 to $20 Billion for Hurricane Frances
Sep 3 2004 // Risk Management Solutions (RMS) has announced that potential insured losses could range from $2 to $20 billion based on the latest forecasts for Hurricane Frances. Uncertainty in the storm’s track and intensity...
Survey Finds Personal Finance Concerns Outweigh Fears of Terrorism; Mistrust of Insurers
Sep 2 2004 // Euro RSCG Worldwide, a leading integrated marketing communications agency, has released the results of an online survey of more than 13,000 respondents in six countries, which found that more people consistently fret about...
