Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
IIABA Applauds Senate’s Approval of Terrorism Ins. Backstop
Jun 19 2002 // The Independent Insurance Agents & Brokers of America (IIABA) reacted to the Senate’s recent approval of the terrorism insurance backstop legislation in a statement released June 18. The final vote invoking...
Pair of Calif. Transportation Services Do Away with Earthquake Policies
Jun 18 2002 // Both Caltrain and the Valley Transportation Authority have decided that their respective earthquake insurance policies were getting a little too hefty for their wallets. Therefore, both have terminated policies in order to...
Colo. Wildfires Won’t Increase Homeowners Rates
Jun 18 2002 // Despite the severity of the Colorado wildfires that have blazed through the state in recent weeks, the good news is that insurance companies insist homeowners rates won’t rise due to the immense amount of claims...
Terrorism Debate Heats Up as Democrats Block Republican Effort
Jun 17 2002 // The battle over terrorism insurance heated up one notch June 13 as Senate Democrats blocked a Republican effort to limit lawsuit claims as part of a terrorism-insurance bill, putting forth a battle with the White House and...
New England Council Urges Passage of Terrorist Insurance Bill
Jun 14 2002 // The New England Council (NEC), urged the U.S. Senate to pass S.2600, legislation designed to implement a system of terrorist reinsurance coverage of losses from future attacks like those of Sept. 11. The legislation is...
EU Airlines Back Government Supported Terrorist Coverage Plan
Jun 14 2002 // As a crucial meeting of the European Union’s Transport Ministers approaches, the EU’s airlines have increasingly lined-up behind a plan which would establish a mutual insurance fund, backed by EU governments,...
Terrorism Bill Goes to Senate Floor; AAI Calls for Rapid Passage
Jun 14 2002 // The Alliance of American Insurers (AAI) called June 13 for passage of the terrorism insurance bill (S 2600) now under debate on the Senate floor. “Senate Democratic leaders obtained unanimous consent yesterday to...
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...
