Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
California Commissioner Issues Non-Renewal Moratorium to Aid Policyholders Affected by Wildfires
Aug 19 2021 // California Insurance Commissioner Ricardo Lara on Thursday issued a mandatory one-year moratorium on insurance companies from non-renewing or cancelling residential property insurance policies. The action is intended to...
Wildfire Grows to 5 Square Miles in Northeastern Minnesota
Aug 19 2021 // A wildfire in the Superior National Forest of northeastern Minnesota has grown to 5 square miles (13 square kilometers) as hot, dry and windy conditions persist, officials said. U.S. Forest Service and other crews have...
California Wildfires Are Exhausting 10,000-Strong Army Fighting Them
Aug 19 2021 // There are over 10,000 firefighters battling unprecedented blazes in California, but that isn’t enough, and the state is having a hard time finding more as flames rage across the western U.S. and Canada. Twelve major...
Parametric Catastrophe Insurer CCRIF to Make Record Payout of $40M for Haiti Quake
Aug 19 2021 // CCRIF SPC, the Cayman Islands-based parametric catastrophe facility, will pay approximately US$40 million to the government of Haiti, following the devastating magnitude 7.2 earthquake, which struck the Caribbean island on...
Why Haiti Is Prone to Deadly Earthquakes
Aug 19 2021 // Earthquakes have been wreaking havoc in Haiti since at least the 18th century, when the city of Port-au-Prince was destroyed twice in 19 years. Saturday’s powerful quake killed hundreds and injured thousands more....
North Carolina Gov. Cooper Issues State of Emergency After Tropical Storm Fred Causes Historic Flooding
Aug 18 2021 // North Carolina Gov. Roy Cooper has issued a State of Emergency in response to Tropical Storm Fred, which caused severe flood in the western part of the state. Approximately 30 people are currently in missing in Haywood...
Dozens of Homes Evacuated as Minnesota Wildfire Spreads
Aug 18 2021 // Dozens of residences have been evacuated as a wildfire in northeastern Minnesota continues to spread, according to the U.S. Forest Service. The fire in the Superior National Forest near Greenwood Lake had expanded to about...
Catastrophe Bond Market Breaks New Record with $8.5 Billion of Securities Issued
Aug 18 2021 // Catastrophe bonds broke a record during the first half of the year with about $8.5 billion of new securities issued, according to a report from Swiss Re AG. The insurance-linked securities market could end up with more...
Wildfires Advancing Through Northern California
Aug 18 2021 // Northern California wildfires that incinerated two mountain communities continued marching through the Sierra Nevada while a utility purposely blacked out as many as 51,000 customers to prevent new blazes. Two weeks after...
Insured Losses from Haiti Earthquake Estimated at $250M: Karen Clark & Co.
Aug 17 2021 // The large 7.2 magnitude earthquake, which hit Haiti on Aug. 14, is likely to cost insurers around $250 million, according to catastrophe modeling firm Karen Clark & Co. (KCC). While the insured losses from this event...
Crews Battle ‘Rapidly Growing’ Wildfire in Northern Minnesota
Aug 17 2021 // Fire crews in northeastern Minnesota battled a “rapidly growing” wildfire Sunday, adding to a list of wildfires in the region that has prompted Gov. Tim Walz to authorize the National Guard to assist in...
10th Tornado Confirmed in July Pennsylvania, New Jersey Storms
Aug 17 2021 // The National Weather Service has confirmed a 10th tornado that struck during storms last month in Pennsylvania and New Jersey. Forecasters in Mount Holly, New Jersey, said Sunday that the EF-0 tornado struck July 29 in a...
Heavy Rains Lash Haiti, Complicating Rescue Efforts for Earthquake Survivors
Aug 17 2021 // LES CAYES, Haiti – Heavy rains lashed Haiti on Tuesday night, complicating rescue efforts and drenching thousands left homeless by a devastating earthquake that killed at least 1,419 people, as hopes dimmed for...
Why Snow, Hail and Wildfire Are Expensive for Insurance Industry
Aug 17 2021 // If you’re having trouble wrapping your mind around the spree of natural catastrophes currently plaguing the world—from deadly July floods in Germany and China to the wildfires still burning in Greece, California...
Tropical Storm Fred Makes Landfall Along Florida Panhandle
Aug 16 2021 // Tropical storm Fred made landfall near Cape San Blas, Florida Monday Aug. 16 at approximately 3:15 p.m. EST, according to the National Hurricane Center. Fred is expected to bring dangerous storm surge and flooding rains...
Death Toll Soars from Haiti Earthquake; U.S. Deploys Search and Rescue Teams
Aug 16 2021 // The U.S. deployed search and rescue teams to help find survivors among the debris of collapsed buildings in Haiti as the death toll soars from Saturday’s massive earthquake. At least 1,297 people were killed after...
Fred Expected to Bring Tropical Storm Conditions to Florida
Aug 13 2021 // Fred is forecasted to bring tropical storm conditions in portions of Florida Saturday according to a National Hurricane Center Aug. 13 update. The Keys, southern and central Florida could see between three to six inches of...
Wildfires Threaten Rural Towns in Montana, California
Aug 13 2021 // Wildfires in Montana threatened rural towns and ranchland while victims of a California blaze returned to their incinerated community, even as the U.S. West faced another round of dangerous weather and smoke pollution...
6 Tornadoes Confirmed in North Dakota’s Red River Valley
Aug 13 2021 // The National Weather Service confirmed the severe thunderstorms that moved through northern parts of the Red River Valley earlier this week produced six tornadoes. The weather service’s damage assessment team said...
U.S. Is Vulnerable Enough to Hurricanes. We Don’t Need Another Storm From an Insurance Tax.
Aug 12 2021 // As a longtime Florida resident, I have witnessed the destructive power of hurricanes on the lives and properties of countless Floridians and others across the Atlantic and Gulf coasts. Hurricanes can pack such enormous...
