Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Texas Windstorm Insurer Files Replacement Cost Policy Form Revisions
May 27 2020 // The Texas Windstorm Insurance Association has filed the following revised endorsements with the Texas Department of Insurance for approval: Revised Endorsement No. 164 – Replacement Cost Coverage – Coverage A...
Lawmaker Details Federal Reinsurance for Pandemic Business Interruption, Event Losses
May 27 2020 // New York Congresswoman Carolyn Maloney has introduced the Pandemic Risk Insurance Act of 2020, a federal backstop for pandemic-related business interruption insurance modeled after the Terrorism Risk Insurance...
Texas DOI Takes Over More Windstorm Compliance Certifications on June 1
May 26 2020 // The Texas Department of Insurance will soon be taking on additional responsibility for issuing Certificates of Compliance for coverage from the state’s insurer of last resort for wind and hail for properties in areas...
North Texas Region Pummeled by Large Hail, Tornadoes
May 26 2020 // Storms carrying large hail and damaging winds, including tornadoes, caused severe damage to parts of North Texas, officials said on May 23. The town of Bowie, about 65 miles (105 kilometers) northwest of Fort Worth, was...
Residents in Small Alaska Town Feel Moderate Earthquake
May 26 2020 // People in Kodiak City reported early Saturday that they felt a moderate earthquake that struck the Kodiak Island region, the Alaska Earthquake Center confirmed. The magnitude 4.4 earthquake hit at 12:52 a.m. Saturday and...
EU Urged to Create Insurance Catastrophe Backstop for Pandemics, Huge Cyber Attacks
May 26 2020 // A European Union framework is needed to provide insurance cover for catastrophes such as pandemics and huge cyber attacks, the Federation of European Risk Management (FERMA) said on Tuesday. This would involve...
As Hurricane Season Starts, Coronavirus to Impact Disaster Preparedness
May 26 2020 // With forecasters predicting another intense Atlantic hurricane season with as many as 13 to 19 named storms, disaster preparedness experts say it’s critically important for people in evacuation zones to plan to stay...
Earthquake Confirmed in Remote Area of Western Nevada
May 22 2020 // An earthquake of preliminary magnitude 5.0 shook a remote area of western Nevada Wednesday morning where a stronger temblor occurred last week, The U.S. Geological Survey confirmed. Nye County sheriff’s Capt. David...
Pacific Hurricane Forecast Complicated by Coronavirus
May 22 2020 // The Central Pacific basin including Hawaii should expect to see between two and six tropical storms or hurricanes this year, federal forecasters said this week. The annual National Weather Service prediction came as wary...
Not All Homes in Wildfire Zones Are Uninsurable. Here’s How Insurers Can Tell.
May 22 2020 // Fire-risk scores now used by insurance underwriters can sometimes can make it challenging for homeowners to find coverage. Zesty.ai, a California insurtech start-up, is among a handful of firms working to fine-tune...
PG&E’s Bankruptcy Plan Wins Support from California Wildfire Victims
May 20 2020 // Pacific Gas & Electric’s plan for getting out of bankruptcy has won overwhelming support from the victims of deadly Northern California wildfires ignited by the utility’s fraying electrical grid, despite...
North Carolina Coast Gets Heavy Rain, Strong Wind as Tropical Storm Arthur Hits Coast
May 19 2020 // Tropical Storm Arthur brought heavy rain to North Carolina’s coast on Monday as forecasters warned that the first named storm of the Atlantic hurricane season could also spread life-threatening surf and rip currents...
P/C Insurers Back a Federal Pandemic Loss Fund But Not a Backstop Like TRIA
May 19 2020 // Property/casualty insurance carrier groups are developing a proposal for a federal program to replace revenues lost by businesses shut down during pandemics like COVID-19, but their program won’t be modeled after the...
Tropical Storm Arthur Inches Closer to East Coast; Minor Impact Expected to North Carolina
May 18 2020 // Tropical Storm Arthur inched closer to the U.S. East Coast on Sunday, although its impact was expected to be limited to some minor flooding and rough seas along the North Carolina coast. Arthur formed off the coast of...
Nevada Highway Damaged by Largest Area Earthquake in 65 Years
May 18 2020 // The cracked main highway between Las Vegas and Reno reopened Friday, 10 hours after a predawn magnitude 6.5 earthquake that a researcher called the largest to strike the remote area of western Nevada in 65 years. No...
Florida Man Charged with Starting 343-Acre Wildfire in Panhandle
May 15 2020 // A Florida Panhandle man who set up an illegal burn barrel on his property caused a wildfire that torched approximately 343 acres (139 hectares) of wild lands and damaged or destroyed about 59 homes, state officials...
Increased Seismic Activity in Hawaii Not Considered A Danger
May 15 2020 // An increase in seismic activity around the youngest Hawaii volcano poses no immediate danger to the Big Island, geologists said. The U.S. Geological Survey Hawaiian Volcano Observatory said more than 100 earthquakes were...
Typhoon Vongfong Tests Philippines’ Ability to Protect Evacuees from Coronavirus
May 15 2020 // Typhoon Vongfong forced more than 150,000 people in the Philippines to leave their homes, risking coronavirus infection as they move to usually packed shelters. Intense rains and strong winds damaged houses and crops as...
Typhoon Vongfong Hits the Philippines with Evacuations Expected
May 14 2020 // Typhoon Vongfong, the Northern Hemisphere’s first named storm [of 2020], is rapidly intensifying east of the Philippines, where it could clip parts of the island nation Thursday and Saturday, according to the U.S....
Lloyd’s Expects US$4.3B in COVID-19 Claims – On Par with Costs of 9/11 Terror Attacks
May 14 2020 // Lloyd’s of London revealed it will pay claims in the range of $3 billion to $4.3 billion as a result of the COVID-19 pandemic. This payout is on a par with the Sept. 11 terrorist attacks, which cost the Lloyd’s...
