Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
CDI Adds Earthquake Link to Website
Sep 11 2000 // The California Department of Insurance (CDI) recently added a new link to its website, www.insurance.ca.gov, to help people affected by the Youngville/Napa earthquake. The advisory provides links to the California Office...
New Catastrophe Model Estimates Annual Losses in Excess of $5 Billion
Sep 8 2000 // Applied Insurance Research announced the release of a new severe thunderstorm model for the United States. The model incorporates sophisticated statistical techniques and the most current information about thunderstorm...
Storm Chasers: ICAT Covers Catastrophes from Coast to Coast
Sep 4 2000 // Like the tornado chasers in the movie “Twister,” International Catastrophe Insurance Managers LLC (ICAT) keeps pushing into new territory where others hang back. ICAT, which currently underwrites catastrophe...
WILDFIRES WON’T QUIT
Sep 4 2000 // Nearly 65,000 wildfires have burned more than 4.3 million acres this year, causing an estimated $100 million in insured property damage, according to the Insurance Information Institute (I.I.I.). Currently, 82 wildfires...
Swiss Re Offers Expert Advice on Hurricanes, Twisters, Space Weather
Aug 18 2000 // Swiss Re announced that it “has experts available to speak on the risks and costs associated with natural catastrophes and other important topics impacting individuals, businesses and the environment around the...
An Estimated $100 Million in Insured Losses Ignited by Wildfires
Aug 15 2000 // Nearly 65,000 wildfires have burned more than 4.3 million acres this year, causing an estimated $100 million in insured property damage, according to the Insurance Information Institute (I.I.I.). Currently, 82 wildfires...
Report Japan Earthquake Worries
Aug 14 2000 // A report by the Associated Press reveals increasing concern in Japan that “a big one” may occur at any time, and could reach or exceed the level of the 1923 earthquake which killed over 100,000 people in Tokyo...
Montana State Auditor Orders Insurers to Drop Wildfire-Related Moratoriums
Aug 4 2000 // State Auditor Mark O’Keefe told all property and casualty insurance companies doing business in Montana to lift all blanket wildfire-related moratoriums on new or increased levels of property insurance, or face...
Western States Blazing Away in Summer Wildfires
Aug 3 2000 // Thirty-five major wildfires are blazing across the Western states in the dry months of late summer, according to the National Interagency Fire Center in Boise, Idaho. The fires are currently being tackled by 20,000...
Minnesota Tornado Damage Estimated at $8.1 Million
Jul 28 2000 // The tornado that pummeled Granite Falls, Minn. earlier this week is estimated to have caused $8.1 million in damage to homes and other property. Homeowners suffered $3 million in losses and $2.8 million in damage to...
Zephyr Markets Hawaiian Hurricane Policies
Jul 24 2000 // Hawaii’s newest local insurance company has begun writing hurricane insurance and reinsurance. Zephyr Insurance Company will initially write only hurricane insurance for the residents of Hawaii and has already begun...
VESTA COMPLETES CAT BOND DEAL
Jul 24 2000 // Vesta Insurance Group’s operating units have completed an insurance securitization transaction through the private placement of $50 million in catastrophe reinsurance-linked notes and common stock, according to Dow...
EQECAT and AER Announce Advanced Hurricane Forecasting
Jul 21 2000 // EQETrac EQECAT and Atmospheric and Environmental Research have made available the EQETrac, an advanced proprietary real-time hurricane forecasting system. The system provides subscribers with probabilistic estimates of...
Vesta Insurance Completes $50 Million Catastrophe
Jul 14 2000 // Vesta Insurance Group’s operating units have completed an insurance securitization transaction through the private placement of $50 million in catastrophe reinsurance-linked notes and common stock according to a...
ISO Estimates U.S. Insurers Will Pay $1.4 Billion
Jul 10 2000 // U.S. property/casualty insurers will pay $1.4 billion to homeowners and businesses for insured property losses from 10 catastrophic events in the second quarter of this year, according to initial estimates from the...
Calif. Earthquake Authority to Fund Research Project
Jun 27 2000 // The Governing Board of the California Earthquake Authority gave its approval to a $300,000 research project aimed at providing new guidelines for the earthquake insurance claim process, as well as improving repairs to...
ALLSTATE’S CATASTROPHE LOSSES HIGH
Jun 26 2000 // There were no April Showers or May Flowers for Allstate Corp. this year. Rather the two spring months produced $340 million in catastrophe losses for the direct writer, whose announcement June 15 triggered a 7 percent...
HURRICANE FORECAST REVISED
Jun 26 2000 // Colorado State University’s hurricane forecast team led by William Gray has revised its April forecast, now predicting 12 named storms, eight hurricanes and four major hurricanes for the 2000 season, which began June...
Lloyd’s To Use RMS Service To Monitor Hurricanes
Jun 23 2000 // Lloyd’s will make Menlo Park based Risk Management Solutions’ (RMS’) RiskOnline.com service available to members to track the progress of hurricanes in real time for the rest of the year 2000. Access will...
EQE International Holds Insurance Risk Conference in Paris
Jun 22 2000 // A veritable who’s who in the insurance industry attended the two day conference in Paris organized by Oakland based EQE International and EQECAT, Inc. its catastrophe modeling arm, to hear an exhaustive review of...
