Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Hawaii Insurance Division Accepts AIR’s 2002 Hurricane Model
Jun 14 2002 // The Hawaii Department of Commerce & Consumer Affairs, Insurance Division, has accepted Air Worldwide Corporation’s (AIR’s) 2001 Hawaii hurricane model for use in rate filings in Hawaii. This is the first...
Dodd Introduces Terrorism Bill in Senate; AAI Calls for Rapid Senate Action on Issue
Jun 11 2002 // The Alliance of American Insurers (AAI) says it is encouraged that the Senate is now beginning to focus on the terrorism insurance issue with the introduction of a bill (S 2600) by Senators Chris Dodd (D-CT), Harry Reid...
Standard and Poor’s Has No Plans to Downgrade CMBS Deals for Terrorism Coverage
Jun 11 2002 // According to analysts, Standard & Poor’s does not intend to place existing commercial mortgage-backed securities transactions on CreditWatch or take any downgrade action because of terrorism insurance...
Long Island Faces Greater Hurricane Peril
Jun 10 2002 // As forecasters warn that the number of Atlantic hurricanes is likely to increase, and that the storms might become more violent, Long Island may be more exposed to storm related risks than other east coast areas. An...
AIA Sees Opportunities at NAIC Meeting June 8-11
Jun 10 2002 // Credit-based insurance scoring, speed to market, and market conduct are areas of opportunity at the upcoming meeting of the National Association of Insurance Commissioners (NAIC) for regulators to act on their commitment...
For Safeco: Opportunity is Where You Create It
Jun 10 2002 // Like most insurance companies, the soft market took its toll on Safeco. While the property and casualty side of the business continued to suffer losses that resembled the gross national product of some Latin American...
RMS Expands Hurricane Monitoring Services
Jun 4 2002 // Experts are predicting an active hurricane season (See IJ Website June 3), and as a result Newark CA-based Risk Management Solutions (RMS), a leading provider of products and services for the management of natural hazard...
PIA, III Warn on Approaching Hurricane Season
Jun 3 2002 // Both the National Association of Professional Insurance Agents (PIA) and the Insurance Information Institute (III) have issued bulletins warning homeowners and businesses to prepare for an active hurricane...
RMS Provides Japan Earthquake Risk Analysis to Nissay Dowa, Swiss Re
May 31 2002 // Newark, California-based Risk Management Solutions (RMS) announced that it has provided the risk analysis to Nissay Dowa General Insurance Co., Ltd. and its counterparty, Swiss Re in support of the Fujiyama Ltd. $70...
AAI Says Consumer Group’s Claim Is Misleading
May 31 2002 // The Alliance of American Insurers (AAI) says that a recent letter on terrorism insurance sent by the Consumer Federation of America (CFA) to Senate Majority Leader Tom Daschle cited incomplete statistics and was misleading...
Brokers and Agents Meet at Annual San Diego
May 29 2002 // “Terrorism isn’t just simply killing people or injuring people… it’s creating chaos,” said Bob Captain of Barney & Barney. Captain discussed terrorism and how it has and will continue to...
Lawsuit Seeks to Limit Terrorist Coverage Premium on Times Square Building
May 28 2002 // A lawsuit filed by Four Times Square Associates challenging its lenders’ demand that it pay a tenfold increase in insurance premiums to provide terrorist coverage on a “trophy building” in Times Square,...
Watch the Skies, Weather Still Causing Trouble for Homeowners Markets
May 27 2002 // For the past year, while the Texas homeowners insurance market reeled from the effects of mold claims on premium (and still does), homeowners markets in other states have begun bracing themselves for similar nightmare...
AAI POINTS TO CONGRESS JEC STUDY
May 27 2002 // The Alliance of American Insurers has pointed to the U.S. Congress Joint Economic Committies (JEC) new study “The Economic Costs of Terrorism,” as further evidence that federal terrorism reinsurance legislation...
AAI Urging Senate Leadership to Take Action on Terrorism Bill
May 24 2002 // The Alliance of American Insurers has written to U.S. Senate Majority Leader Thomas Daschle (D-SD) and Minority Leader Trent Lott (R-MS) urging prompt consideration of the terrorism insurance bill, given the recent...
Erie Estimates $33-$37 Million in Claims from Tornadoes, Hail Storms
May 23 2002 // Pennsylvania-based Erie Insurance Group announced that claims estimates are between $33 and $37 million as a result of the damages caused by the tornadoes, wind and hail storms that struck Maryland, Virginia, West Virginia...
NYSID Focus on Insurance During Hurricane Awareness Week
May 22 2002 // While it might be a more urgent priority in Florida or Texas rather than New York, hurricanes and tropical storms can nonetheless cause extensive damage all along the eastern seaboard. It’s not surprising therefore...
Swiss Re Sponsors Brazilian Water Project; Offers Hurricane Expert Advice
May 20 2002 // Swiss Re will sponsor a water resources project in Northeastern Brazil in conjunction with World Vision, an independent environmental organization, and . will offer hurricane advice to the media by weather forecasting...
Insurance Industry Posts Strong Q1 Gains HOW REAL ARE THEY’
May 13 2002 // After suffering its first ever net loss in 2001,an extraordinary and dismal year by anyone’s reckoning, the property/casualty industry finally received some good news as earnings reports for the first quarter of 2002...
Terrorism Insurance Still on Front Burner for Insurers, Lawmakers
May 13 2002 // Amid heavy lobbying on the part of financial lenders, insurers, real estate executives and even President Bush, the Democrats and Republicans in the Senate seem to have come to agreement that there is need for some kind of...
