Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Quackenbush Breaks the Silence
Feb 24 2003 // Insurance Journal senior staff writer Dave Thomas, along with publisher Mark Wells, recently caught up with former California Insurance Commissioner Chuck Quackenbush. Quackenbush, who has been working in Hawaii as a...
N.Y. Dept., ISO Finalize Terrorism Loss Costs
Feb 19 2003 // New York Superintendent of Insurance Gregory Serio announced that the Department has reached an agreement with the Insurance Services Organization (ISO) on terrorism loss costs for commercial property in New York...
P/C Insurers Expected to Pay $5.8B for Insured Property-Loss Catastrophe Losses
Feb 14 2003 // U.S. property/casualty insurers are expected to pay an estimated $5.8 billion in insured property-loss claims from catastrophes last year, making 2002 the fourth-lowest year in losses in the last 10, according to...
RMS Launches 3rd Generation Earthquake Models For Western U.S.
Feb 14 2003 // Risk Management Solutions (RMS) announced the launch of new earthquake models for the western U.S. and western Canada. The models use the latest data on seismic risk from the U.S. Geological Survey (USGS) 2002 National...
RMS Unveils First Hurricane Model to Include Effects of Extratropical Transition
Feb 13 2003 // Risk Management Solutions (www.rms.com), a provider of products and services for the management of catastrophe risk, has launched the third generation of its U.S. Hurricane model, the first such model to fully represent...
Commercial Lines Auto: A Sleeping Giant Awakens
Feb 10 2003 // The commercial lines auto market used to be a steady line of business, stirred up occasionally by a Department of Transportation regulatory change or fallout from personal auto regulatory issues. Like other lines, it was...
Terrorism Risk Insurance Program: A Progress Report
Feb 10 2003 // With a federal terrorism reinsurance backstop now in place, the industry is faced with implementing the provisions of the legislation in a timely and efficient manner. This has and will continue to require unprecedented...
Commercial Lines Auto: A Sleeping Giant Awakens
Feb 10 2003 // The commercial lines auto market used to be a steady line of business, stirred up occasionally by a Department of Transportation regulatory change or fallout from personal auto regulatory issues. Like other lines, it was...
Terrorism Risk Insurance Program: A Progress Report
Feb 10 2003 // With a federal terrorism reinsurance backstop now in place, the industry is faced with implementing the provisions of the legislation in a timely and efficient manner. This has and will continue to require unprecedented...
Tool Helps Insurers Identify, Quantify Terrorism Risks
Feb 5 2003 // Insurers looking to identify and price terrorism exposures have a new tool available from decision-data expert Oxxford Information Technology, Ltd. Oxxford’s Vulnerability Index (www.risk-mkt-data.com), as the...
Alliance Urges NY Legislators to Delay Action on Implementing Terrorist Risk Act
Feb 3 2003 // The Alliance of American Insurers urged New York legislators to “resist the temptation” to implement state-specific legislative or regulatory measures involving the federal Terrorism Risk Insurance Act (TRIA)...
PIANY President Points to Producers Role in Implementing Federal Terrorism Risk Act
Feb 3 2003 // David Isenberg, president of the Professional Insurance Agents of New York State Inc., also testified at hearings considering the implementation of the federal Terrorism Risk Insurance Act of 2002, telling the Assembly...
Big Turnout at PIANY’s MetroRAP 2003; Keynoter Warren Heck Addresses Terrorist Coverage Concerns
Jan 28 2003 // The recent Professional Insurance Agents of New York’s Metropolitan Regional Awareness Program (MetroRAP) broke previous attendance records. Nearly 500 agents, company representatives, exhibitors and other New York...
New AIR Estimation Model Helps Insurers Price Terrorism Risk
Jan 27 2003 // In an effort to help property/casualty carriers racing to price and offer terrorism coverage after the passage of the Terrorism Risk Insurance Act, AIR Worldwide Corporation has introduced a new estimation model, the...
CDI Approves Terrorism Risk Insurance Act Endorsement
Jan 27 2003 // On Jan. 14, 2003, the WCIRB advised its members that several forms had been filed with the California Department of Insurance (CDI) related to the Terrorism Risk Insurance Act which became effective on Nov. 26, 2002. The...
New AIR Estimation Model Helps Insurers Price Terrorism Risk
Jan 27 2003 // In an effort to help property/casualty carriers racing to price and offer terrorism coverage after the passage of the Terrorism Risk Insurance Act, AIR Worldwide Corporation has introduced a new estimation model, the...
AAI Says It Is Pleased with Third Interim Guidance on Terrorism Insurance
Jan 24 2003 // The Alliance of American Insurers (AAI) reports it is pleased with the U.S. Treasury Department’s third set of guidelines to help insurers comply with the Federal Terrorism Risk Insurance Act of 2002. Issued Jan. 22,...
AIA Conference Explores Challenges of Terrorism Ins. Law
Jan 23 2003 // Top government officials, along with insurance industry experts and leaders, kicked off an American Insurance Association (AIA) conference this week focused on the recently enacted Terrorism Risk Insurance Act of...
WCIRB Releases Summary of Terrorism Loss Cost Estimates for 11 States & D.C.
Jan 23 2003 // The California Workers’ Compensation Insurance Rating Bureau (WCIRB) has prepared and released a summary of loss cost estimates for 11 states and the District of Columbia that were published by the NCCI based on the...
WCIRB Releases Summary of Terrorism Loss Cost Estimates for 11 States & D.C.
Jan 22 2003 // The California Workers’ Compensation Insurance Rating Bureau (WCIRB) has prepared and released a summary of loss cost estimates for eleven states and the District of Columbia that were published by the NCCI based on...
