Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
AIR’s Severe Thunderstorm Model Key Component to New Peril-Based Fla. Homeowners Rates
Apr 29 2004 // For the first time, homeowners rates that include a severe thunderstorm component based on sophisticated catastrophe modeling have been included as part of a rating plan subject to approval by state regulators. Florida...
IIA San Antonio to Host Windstorm Workshop
Apr 29 2004 // The Independent Insurance Agents of San Antonio announced it will host a windstorm insurance underwriting workshop in conjunction with the Texas Windstorm Insurance Association. The workshop is scheduled for June 4, 2004,...
Oklahoma Hailstorms Rack Up $75 Million in Damages
Apr 29 2004 // Hailstorms that hit central Oklahoma a week ago caused more than $75 million in damage, according to preliminary estimates released by the Oklahoma Insurance Department. The Associated Press reported that an estimate of...
Industry Asks House to Extend TRIA
Apr 28 2004 // Congress should act this year to extend the national terrorism insurance backstop beyond Dec. 31, 2005, because the private market remains unable to withstand potentially catastrophic losses resulting from terrorist...
California Commissioner Launches Team to Investigate Wildfire Insurance
Apr 28 2004 // A team of attorneys and consumer advocates will be in place by week’s end to investigate complaints by hundreds of victims of last fall’s Southern California wildfires that their insurance companies...
Cat Bond Market Grew 42% Reports Guy Carpenter
Apr 27 2004 // According to findings from a new joint study by Guy Carpenter & Company, Inc. and MMC Securities Corp., the catastrophe bond market experienced substantial growth in 2003, as cat bonds remained an important complement...
Feds Stymie Insurers’ Claims Against Alleged Terrorists
Apr 27 2004 // U.S. officials and insurance companies representing Sept. 11 victims are locked in an unusual legal standoff, stemming from the government’s refusal to admit it has the alleged mastermind of the attacks in...
N.C. Residents Urged to Exercise Caution in Aftermath of Hurricanes; Atlantic Basin Forecast Released
Apr 27 2004 // Hurricane Isabel was directly or indirectly responsible for 50 deaths nationwide and caused an estimated $170 million of property damage in North Carolina last September. Experts predict 14 named storms and eight...
Sen. Lautenberg to Hold NYC Briefing on Doing Business with States that Sponsor Terrorism
Apr 22 2004 // U.S. Senator Frank R. Lautenberg and New York City Comptroller William C. Thompson Jr. will host a press conference today, April 22, at 1:30 PM, to announce an amendment to the upcoming FSC-ETI bill to close a loophole...
Consumer Study Disputes Need for Renewal of Terrorism Reinsurance
Apr 22 2004 // The nation’s terrorism insurance law is not necessary to ensure the availability of affordable terrorism coverage for most areas of the country and should be allowed to expire, according to a study released by the...
Unlicensed Contractors Targeted to Protect California Wildfire Victims
Apr 21 2004 // Fifteen people have been charged with felony unlicensed contracting after an undercover operation to prevent fraud against victims of Southern California wildfires, officials said April 19. “We are sending a message...
AIR Launches Catastrophe Risk Engineering Services
Apr 20 2004 // AIR Worldwide Corporation announced the launch of Catastrophe Risk Engineering, described as “a new consultative service that analyzes high value or strategically significant properties to estimate potential human,...
Joint Letter from Six Insurance Associations Urges Congressional Leaders to Reauthorize TRIA
Apr 20 2004 // In a joint letter to Michael G. Oxley, (R-Ohio), Chairman of the House Committee on Financial Services, and Richard C. Shelby (R-Ala.), Chairman of the Senate Banking Committee, six of the most prominent U.S. insurance...
Willis Reports on Insurance Marketplace Conditions
Apr 20 2004 // Willis Group has also issued a report on market conditions in the industry (see related articles). The international broker said it had reached the following conclusions: — Competitive conditions return to certain...
Terrorism Tops List of Concerns for Workers’ Comp Professionals
Apr 19 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 &...
Spanish Train Bombings Renew Terrorist Threat
Apr 19 2004 // March 11, 2004 now joins Sept. 11, 2001 as dates no one now living will ever forget. The sheer horror of watching the aftermath of 10 separate explosions on the Spanish rail network in Madrid brought home the brutal...
Springtime Means Rain, Hail and Tornadoes in South Central States
Apr 19 2004 // Spring is here and with it comes unstable weather conditions that can cause problems for consumers and agents alike in the South Central region of the United States. As if ushering in the season, insurers and insurance...
Spanish Train Bombings Renew Terrorist Threat
Apr 19 2004 // March 11, 2004 now joins Sept. 11, 2001 as dates no one now living will ever forget. The sheer horror of watching the aftermath of 10 separate explosions on the Spanish rail network in Madrid brought home the brutal...
Fla. Taxwatch Backs Gallagher, Legislative Push to Increase Availability of Homeowners Insurance
Apr 16 2004 // Florida TaxWatch President & CEO Dominic Calabro said today that he supports Chief Financial Officer Tom Gallagher and state lawmakers in their efforts to increase the availability of homeowners insurance through...
RMS Risk Management Tools Assist Lloyd’s Syndicates
Apr 15 2004 // Risk Management Solutions (RMS), a provider of products and services for catastrophe risk management, has issued a set of instructions and tools to assist Lloyd’s syndicates in completing the 2004 Lloyd’s...
