Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
GE Commercial to Headline Oklahoma Seminar
Apr 21 2003 // Commercial property insurance and risk management provider GE Commercial Insurance announced it will be the key presenter at an upcoming building safety and security symposium in Oklahoma City. The two-day symposium, April...
ABS EQECAT TO HOLD 2003 EUROPEAN CATASTROPHE MANAGEMENT SUMMT IN BARCELONA
Apr 21 2003 // Oakland-based EQECAT, Inc. announced that its 2003 European Catastrophe Management Summit will take place on June 24-27 at the Hotel Princesa Sofia InterContinental in Barcelona, Spain. “This year the European Summit...
Institute President Reacts to Full Year 2002 Results
Apr 18 2003 // The property/casualty industry reported a statutory rate of return of 1.0 percent in 2002, up from the worst-ever negative 2.4 percent recorded in 2001. The results were released by the Insurance Services Office, Inc....
German Gov’t Denies Lufthansa Terrorist Coverage
Apr 18 2003 // The German government recently announced it would not give state aid to Deutsche Lufthansa AG in the event of a terrorist attack, according to Dow Jones Newswires. The Finance Ministry cited insurers’ present...
P/C Industry’s Surplus Falls Despite Improvement in Net Income After Taxes
Apr 17 2003 // The property/casualty insurance industry’s statutory surplus dropped $4.4 billion to $285.2 billion at year-end 2002 from $289.6 billion at year-end 2001. Surplus declined despite improvement in the industry’s...
Taking a look at 2002 Results
Apr 17 2003 // The property/casualty insurance industry reported a statutory rate of return of 1.0 percent in 2002, up from the worst-ever negative 2.4 percent recorded in 2001. The results were released by the Insurance Services Office,...
Hiscox Notes Increased Demand for Terrorism Coverage
Apr 7 2003 // The U.K.’s Hiscox Plc, a leading London market insurer, partly owned by Chubb Corp., has reportedly seen an increase in the demand for coverage of terrorist related risks by small and medium-sized U.S. companies...
SWISS RE SIGMA STUDY PUTS 2002 CAT LOSSES AT $13.5B
Apr 7 2003 // A new Swiss Re sigma report, “Natural catastrophes and man-made disasters in 2002,” estimates the cost to the industry at $13.5 billion, $1.5 billion more than the company’s preliminary estimates released...
Property/Casualty Insurance: An Industry in Recovery’
Apr 7 2003 // Following the property/casualty industry’s net loss after taxes in 2001, many analysts predicted 2002 would be the year of recovery. In fact, strong premium growth and sharply lower catastrophe losses did lead to...
Property/Casualty Insurance: An Industry in Recovery’
Apr 7 2003 // Following the property/casualty industry’s net loss after taxes in 2001, many analysts predicted 2002 would be the year of recovery. In fact, strong premium growth and sharply lower catastrophe losses did lead to...
NAMIC Comments on Interim Rules of Terrorism Risk Ins. Act
Apr 3 2003 // The National Association of Mutual Insurance Companies (NAMIC) submitted comments this week to the Department of Treasury on the first round of interim final regulations of the Terrorism Risk Insurance Act (TRIA). The...
NAII Comments on Terrorism Risk Ins Act Interim Final Rule
Apr 2 2003 // The National Association of Independent Insurers (NAII) submitted comments on the interim final rule implementing the Terrorism Risk Insurance Act. “NAII appreciates the efforts of the Treasury Department in issuing...
Alliance Hails Minn. Action on Standard Fire Policy
Apr 2 2003 // The Alliance of American Insurers is urging Minnesota’s governor to sign into a law a measure that will go a long way toward stabilizing the state’s commercial insurance market. The bill (House File 267) passed...
AAIS Files Conditional Endorsements for Terrorism Coverage on Rental Dwellings
Mar 31 2003 // An endorsement is now available for providing terrorism coverage on rental dwellings covered by dwelling and premises liability policies, in the event that such coverage is determined to be commercial insurance under the...
ABS EQECAT to Hold 2003 European Catastrophe Management Summit in Barcelona
Mar 26 2003 // Oakland-based EQECAT, Inc. a subsidiary of Houston’s ABS Consulting, announced that its 2003 European Catastrophe Management Summit will take place on June 24-27, 2003 at the Hotel Princesa Sofia InterContinental in...
Wash. State Workers’ Comp to Include Acts of Terrorism
Mar 25 2003 // Washington taxpayers and the State Fund will get significant financial relief from the federal government in the event of an act of terrorism that results in catastrophic losses to the workers’ compensation...
CIAB Study Says Many Commercial Interests Not Buying Terrorism Coverage
Mar 24 2003 // Insurers are offering terrorism coverage, but many buildings, businesses and other commercial interests across the United States are not buying the insurance because they do not consider themselves targets of terrorism,...
Munich Re Issues 2002 Natural Catastrophe Study; L.A., S.F. are High Risk
Mar 24 2003 // Munich Re has issued a new survey report – “topics Natural Catastrophes 2002.” The study found that “storms and floods have an even greater impact on insurers’ claims burdens than in the year...
TRIA-a Flood of Paper, a Trickle of Buyers
Mar 24 2003 // December is the most dreaded month for a surplus lines broker. In addition to all the 12/31 and 1/1 renewals, one must deal with underwriters and employees having the gall to go on vacation, holiday parties, holiday...
NYSID Limits Fully-earned Premium on Terrorism Coverage
Mar 20 2003 // The New York State Insurance Department has adopted, on an emergency basis, amendments to Regulations 41 and 57, the effect of which is to limit fully-earned premium policy provisions with respect to terrorism coverage as...
