Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
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...
So Far, So Good
May 13 2002 // As I was saying, before I was so rudely interrupted… Last time, we draped our cover and opening prose in funeral black crepe proclaiming 2001 “The Worst Year Ever”, the property and casualty business having...
Insurance Industry Posts Strong Q1 Gains
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...
AIG’s Terrorism Meeting Focuses on Security
May 10 2002 // In the words of security consultant Brian Jenkins, “There will be further incidents of terrorism.” Jenkins, speaking at AIG’s “Terrorism: The Cost of Risk” meeting in Los Angeles, described...
Regulators Hear Industry’s Cautions on Mixing Terrorism Risk and Natural Disasters in CAT Plan
May 8 2002 // A National Association of Insurance Commissioners (NAIC) committee wanting to add terrorism risk to an existing plan for catastrophe reserving has agreed to slow down after the National Association of Mutual Insurance...
AAI Points to U.S. Congress JEC Study
May 8 2002 // The Alliance of American Insurers has pointed to the U.S. Congress Joint Economic Committee’s (JEC) new study The Economic Costs of Terrorism, as further evidence that federal terrorism reinsurance legislation is...
IIC Award-Winner Warns: Terrorism Cover No Panacea, U.S. Regulation Out of Step
May 3 2002 // New York—The insurance business needs help in the form of terrorism coverage, but it’s no panacea, warns Robert V. Mendelsohn, the American Chief Executive of London-based Royal & Sun Alliance Insurance...
ISO Service to Act as Lehman Re’s Trigger for Earthquake Risks
May 3 2002 // Redwood Capital I Ltd. has licensed insured-loss information from Insurance Services Office, Inc.’s (ISO) Property Claim Services (PCS) unit to be used as a “trigger” for payments on a one-year...
