Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Treasury Unveils Proposed Rules on Terrorism Risk Insurance Act
Dec 3 2003 // The Department of the Treasury recently issued proposed rules to address Claims Procedures and Audit, and Investigative and Civil Money Penalty Procedures implementing the Terrorism Risk Insurance Act of 2003 (TRIA)....
Protecting Your Company from Terrorism Within
Dec 1 2003 // Thousands of terrorists call the United States home. It has been estimated that hundreds of terrorist sleeper cells are scattered throughout our country, waiting for orders and instructions. For the weeks or months or...
Business Disaster Planning
Dec 1 2003 // While this article was being written, Southern California was still on fire. Thousands of homes were burned to the ground along with hundreds of thousands of acres of forests. This is one of the key times that the...
A Halfway Point in the Fight Against Terrorism
Dec 1 2003 // Nov. 6 marked an important point in time for America’s property and casualty insurers. It was the halfway point between the Sept. 11, 2001, terrorist attacks and Dec. 31, 2005, the date that the Terrorism Risk...
S&P COMMENTS ON CALIF. WILDFIRE AFTERMATH:
Dec 1 2003 // The biggest wildfire in U.S. insurance history will neither undermine insurance ratings nor prompt a pricing surge in homeowners’ coverage in the state, according to the most recent research by Standard &...
A Halfway Point in the Fight Against Terrorism
Dec 1 2003 // Nov. 6 marked an important point in time for America’s property and casualty insurers. It was the halfway point between the Sept. 11, 2001, terrorist attacks and Dec. 31, 2005, the date that the Terrorism Risk...
California Wildfire Claims Reach 12,700
Nov 28 2003 // According to recent reports, insurers have received more than 12,700 claims relating to the California wildfires. Losses from the fires that ravaged Southern California in October are now estimated to approach close to...
Federal Terrorism Insurance Issues Examined at CAS Annual Meeting
Nov 26 2003 // Actuaries reportedly face difficult challenges in accurately pricing commercial property insurance coverage under the Terrorism Risk Insurance Act of 2002 (TRIA), the temporary federal financial backstop for insuring...
Auto Club Cuts Rates for Total Loss Victims Of Wildfires
Nov 24 2003 // The Auto Club’s affiliated Interinsurance Exchange has gained state insurance department interim approval for its emergency request to reduce insurance rates for its policyholders whose houses were destroyed by the...
CDS Unveils Fla. Windstorm Mitigation Credit Maps
Nov 21 2003 // CDS Business Mapping, LLC a provider in online hazard mapping, has released its Florida Windstorm Mitigation Credit Maps. This is a set of three digital maps for insurers to meet the requirements for the new Florida...
Safeco Estimates Calif. Wildfire Losses
Nov 18 2003 // Safeco announced that claims stemming from the recent California wildfires are estimated at $16.0 million in pretax catastrophe losses. This figure represents the estimated losses both from claims received through Nov. 14...
Business Disaster Planning
Nov 17 2003 // While this article was being written, Southern California was still on fire. Thousands of homes were burned to the ground along with hundreds of thousands of acres of forests. This is one of the key times that the...
Insdustry Responds to Calif. Wildfires
Nov 17 2003 // The most devastating wildfires in California history have been fully contained, but the numbers reveal a destruction of staggering proportions: statewide, 740,000 acres have been scorched; more than 3,600 homes and the...
Allstate Announces Estimate of California Wildfire Losses
Nov 14 2003 // The Allstate Corporation announced that its pre-tax catastrophe losses related to the California wildfires, which began on Oct. 21, 2003, are preliminarily estimated to be between $290 and $330 million, $190 and $215...
S&P Comments on Calif. Wildfire Aftermath
Nov 12 2003 // The biggest wildfire in U.S. insurance history will neither undermine insurance ratings nor prompt a pricing surge in homeowners’ coverage in the state, according to the most recent research by Standard &...
IIAD’s All Industry Day to Feature Town Hall Meeting on Terrorism
Nov 12 2003 // The Independent Insurance Agents of Dallas announced it will hold the annual All Industry Day on Nov. 25. The event, “Confronting Terrorism, Not If, But When,” is sponsored by state and local insurance...
Moody’s: Wildfires Will Hurt Insurers’ Bottom Line
Nov 12 2003 // Moody’s Investors Service said in a statement that it does not expect its ratings or outlook on the U.S. personal lines insurance sector as a whole to be impacted solely by the recent spate of California...
Allstate Foundation Establishes $1 Million Wildfire Relief Fund
Nov 10 2003 // The Allstate Foundation joined with The California Community Foundation (CCF) to establish a $1 million fund to aid in the recovery and rebuilding efforts in response to the Southern California wildfire...
III: Calif. Wildfires Worst Ever, Losses Expected to Exceed $2 Billion
Nov 10 2003 // Surveys of the insurance industry have confirmed a total of 7,260 claims filed from the Southern California firestorms as of 4 p.m., Wednesday, Nov. 5, according to the Insurance Information Institute. Reports of up to...
Calif. Commissioner Allows Insurers to Expand Use of Adjusters for Wildfire Claims
Nov 6 2003 // Calif. Insurance Commissioner John Garamendi released the following statement declaring an Emergency Situation in Southern California due to the wildfires: “Due to the unprecedented destruction caused by Southern...
