Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Natural Catastrophe Claims Cost Insurers More Than Coronavirus in First Half: Fitch
Aug 26 2020 // COVID-19-related claims were not the biggest driver of the North American property/casualty insurance industry’s overall combined ratio during the first six months of 2020. Natural catastrophes cost insurers more,...
Hurricane Laura’s Timing, Direction Bring Harvey, Katrina, Rita to Mind
Aug 25 2020 // Tropical Storm Laura morphed into a hurricane on Aug. 25, 2020 — three years to the day after Hurricane Harvey swept ashore on the Texas Gulf Coast — and is expected to make landfall just days before the 15-year...
Hurricane Laura Expected to Slam Energy Coast; On Track for $5-12B in Losses
Aug 25 2020 // Hurricane Laura is poised to strengthen rapidly and come ashore along the Texas-Louisiana coast as a tree-snapping Category 3 storm, forcing residents to flee their homes despite the threat of Covid-19. Laura’s winds...
Texas Cities Issue Mandatory Evacuation Orders as Hurricane Laura Advances
Aug 25 2020 // The mayor of Galveston, Texas, has called for a mandatory evacuation of the city after Tropical Storm Laura strengthened into a hurricane and its path shifted westward, increasing the chances that it could strike the...
Conn. Offers Coverage Guidance Due to Power Outages After Tropical Storm Isaias
Aug 25 2020 // In the aftermath of Tropical Storm Isaias, Connecticut Governor Ned Lamont and Insurance Commissioner Andrew N. Mais are reminding policyholders to review their homeowners insurance policies to understand their coverage...
Gulf Coast Fears Tropical Storm Laura Could Become Deadly Hurricane
Aug 24 2020 // Leaders on the U.S. Gulf Coast warned Monday that Tropical Storm Laura could rapidly intensify into one of the most powerful hurricanes to hit the region and urged residents to prepare before landfall in Texas or Louisiana...
Earthquake Shakes Southeast Corner of Michigan
Aug 24 2020 // A magnitude 3.2 earthquake occurred on Aug. 21 near Monroe in the southeastern corner of Michigan, the U.S. Geological Survey said. The depth was about 5.7 miles (9.17 kilometers). The earthquake was felt in the Detroit...
Hedge Fund Collects $3 Billion in Bet on Wildfire Insurance Claims
Aug 24 2020 // Baupost Group, the hedge fund run by Seth Klarman, received more than $3 billion in July from its bet on insurance claims against PG&E Corp. connected to a series of deadly California wildfires, according to people...
How COVID-19 Could Impact Post-Hurricane Loss Inflation in Florida: AIR Worldwide
Aug 24 2020 // By the end of March 2020 people were wondering what the impact of COVID-19 on the upcoming hurricane season would be. There is no historical event to provide evidence for how the scenario might unfold, so we need to start...
Declarations
Aug 24 2020 // The Big One “This announcement means that California’s world-class earthquake early warning system will be a standard function on every Android phone — giving millions precious seconds to drop, cover and...
How to Protect Your Base-Jumping, Crocodile-Wrestling, Shark-Diving, Volcano-Luging, Snake-Wrangling CEO
Aug 24 2020 // There’s a scene in the 2004 movie, Along Came Polly, when an unemployed actor named Sandy Lyle (Philip Seymour Hoffman) is stalking an executive suite like a big-game hunter on the Serengeti. His prey is a conference...
Insured Losses from Hurricane Isaias $3-$5 Billion: RMS
Aug 24 2020 // Estimated total insured losses from Hurricane Isaias will be between $3.0 and $4.5 billion in the U.S. This includes estimated losses to the National Flood Insurance Program (NFIP) of between $400 and $700 million,...
Dueling Storms Marco, Laura Hit Haiti, Dominican, Cuba on Way to Gulf Coast
Aug 23 2020 // SUNDAY, 08/23/2020, 06:23 PM— Hurricane Marco and Tropical Storm Laura tore through the Caribbean and Gulf of Mexico on Sunday, forcing thousands of coastal residents in Louisiana and Cuba to evacuate and flooding roads...
Gulf Coast Braces for Tropical Storm Marco; States Declare Emergencies
Aug 23 2020 // 08/22/2020 05:30 PM — Marco, one of two tropical storms headed for the U.S. Gulf Coast, was forecast to strengthen into a hurricane later on Saturday as coastal governors urged residents to prepare for the unprecedented...
Weather Service Probes Damage in New Jersey to Determine if Tornado Hit
Aug 21 2020 // National Weather Service officials on Thursday were trying to determine if a tornado touched down as a severe thunderstorm moved across a portion of New Jersey. Heavy rain and powerful winds sent residents scrambling in...
Florida Mayor, City Attorney Charged in $5M Hurricane Michael Fraud Scheme
Aug 21 2020 // The mayor and city attorney of a Florida Panhandle city are the latest to be charged in the theft of $5 million in Hurricane Michael debris removal funds, prosecutors announced Wednesday. Lynn Haven Mayor Margo Anderson...
Colorado Banning Open Fires as State Battles 4 Wildfires
Aug 19 2020 // Gov. Jared Polis issued a 30-day ban on open fires such as campfires, fireworks and other open sources of ignition on Tuesday as the state battles four separate wildfires. The ban does not include home barbecues, public...
Roadmaps for Wildfire Mitigation Provide Guidance for Suburban Neighborhoods
Aug 19 2020 // New wildfire guidelines from an insurance industry home safety organization offer guidance for adapting suburban communities to the growing threat of wildfire. The Insurance Institute for Business & Home Safety (IBHS)...
Florida Unveils $10M Loan Program to Aid Hurricane Michael-Ravaged Panhandle
Aug 19 2020 // Gov. Ron DeSantis announced a $10 million housing loan program that could benefit hundreds of home buyers in the Florida Panhandle, which was devastated two years ago by Hurricane Michael. DeSantis traveled to Panama City...
Is California’s Prop 103 System ‘Democratic’?
Aug 18 2020 // Defining the term “democracy” has long been a challenging proposition. Nearly all agree that a democracy is a government that reflects the will of the people, but questions about the particulars, of what...
