Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Workers’ Comp TexasA League of its Own
Mar 25 2002 // One of the many singular phenomena that sets Texas apart from the rest of the U.S. is the fact that it is the only state in the Union that does not require its employers to participate in the workers’ compensation...
Terrorism
Mar 25 2002 // Nuts & Bolts: First Premium Insurance Group of Covington, La., is offering a terrorism policy. Available by appointment only. Dollars: Policy limits to $5 million. Carrier: THB/Lloyd’s, rated “A.”...
Terrorism Policy
Mar 25 2002 // Nuts & Bolts: First Premium Insurance Group Inc. is offering a program for terrorism policies. Dollars: Policy limits of $5,000,000. Carrier: THB/Lloyd’s. Rated “A.” Nonadmitted. States Available:...
Catastrophe Losses Set at $34.4 Billion Last Year Says Swiss Re Study
Mar 14 2002 // A sigma study by Swiss Re estimates that more than 33,000 people lost their lives as a result of natural catastrophes and man-made disasters in 2001, and puts the cost to the insurance industry at $34.4 billion. Over half...
AAI Calls for Terrorism Bill on Anniversary of
Mar 13 2002 // Speaking on the six-month anniversary of the Sept. 11 terrorist attacks Monday, the Alliance of American Insurers’ president called for renewed congressional focus on stabilizing the economy by passing terrorism...
Counter-Terrorism Specialist to Speak At Blue Ribbon Conference
Mar 11 2002 // A retired Navy Seal, who now is a top consultant in counter-terrorism security and a best-selling author, is one of an array of experts set to address executives of insurance brokers, independent agencies and insurers...
Insurance and Home Security
Mar 11 2002 // The issue of whether or not the government should be in the business of providing terrorism insurance is a confusing one. Congress clearly has a problem with it. Although the House passed its version of a bill that would...
Insurance and Home Security
Mar 11 2002 // The issue of whether or not the government should be in the business of providing terrorism insurance is a confusing one. Congress clearly has a problem with it. Although the House passed its version of a bill that would...
AAI Praises Oxley for Leadership on Terrorism Bill
Mar 8 2002 // The Alliance of American Insurers praised House Financial Services Committee Chairman Michael Oxley (R-OH) for signaling his desire to make necessary compromises with the Senate to pass a terrorism insurance bill in...
RMS Purchases Catalyst Catastrophe Risk Models from Benfield Blanch
Mar 7 2002 // Risk Management Solutions (RMS) has purchased the Catalyst® U.S. earthquake, hurricane, and tornado models and related software from Benfield Blanch Inc. RMS will incorporate elements of the models into its RiskLink®...
U.S. Airlines Plan to form Company to Insure against Terrorism
Mar 6 2002 // According to the Los Angeles Times, U.S. airlines are formulating a plan to have a company in place to insure themselves against terrorism and acts of war with premiums set around half the rate private insurers have...
N.Y. Superintendent Details Need for Federal Backstop for Terrorism Losses
Mar 4 2002 // New York Superintendent Gregory V. Serio testified recently before the U.S. House of Representatives Committee on Financial Services Subcommittee on Oversight and Investigations, detailing the status of the insurance...
RIMS President Testifies before Congress
Mar 1 2002 // The Risk and Insurance Management Society, Inc.’s President, David Mair, testified Feb. 28 before the House Financial Services Subcommittee on Oversight and Investigations on the necessity of terrorism insurance...
NAMIC Comments on House Financial Services Committee Hearing
Mar 1 2002 // The National Association of Mutual Insurance Companies (NAMIC) issued the following statement on the Feb. 27 House Financial Services Committee hearing: “How much are Americans at risk until Congress passes terrorism...
Neb. to Disapprove Terrorism, Nuclear Exclusions in Personal Lines
Feb 27 2002 // The Nebraska Insurance Department announced it will disapprove terrorism exclusions in personal lines insurance, including exclusions for nuclear and bio-terrorism risks. National Association of Independent Insurers (NAII)...
CDI Grant Program to Offer Protection from Catastrophic Earthquake Damage
Feb 25 2002 // The California Department of Insurance (CDI) is implementing Phase 7 of its Earthquake Retrofit Grant Program and including two central valley counties, San Joaquin and Stanislaus, to offer protection for valley homes from...
The Ocean Marine Market: A Unique Animal
Feb 25 2002 // Like life itself, insurance began in the ocean, eventually spawning the various land-based descendants we’ve come to know. While those terrestrial variants-auto, homeowners, commercial liability, among others-now...
Catastrophe Modeling-Feeding the Risk Transfer Food Chain
Feb 25 2002 // The increasingly sophisticated business of constructing catastrophe models is driven by three main imperatives: what are the chances of a given event happening; what are the upper and lower limits of a catastrophic...
Active Hurricane Season Expected for 2002
Feb 25 2002 // What is a Hurricane? A hurricane is a type of tropical cyclone—a generic term for a low pressure system that generally forms in the tropics. The cyclone is accompanied by thunderstorms and, in the Northern Hemisphere, a...
The View from Up There-Insurers Embrace Space Age Technologies
Feb 25 2002 // In the summer of 2001, a U.S. District judge in Arkansas ruled against several farmers accused of filing false crop insurance claims totaling approximately $244,000. Key evidence in the lawsuit—filed on behalf of the...
