Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Severe Halloween Storms Cause Tornado, Kill 1 in Tennessee
Nov 4 2019 // Officials say severe storms that moved through Tennessee on Halloween knocking down trees and power lines led to the death of a man. The Knoxville Police Department tweeted on Friday that 79-year-old George Walker was...
No Major Damage as Earthquakes Rattle Kansas, Oklahoma
Nov 4 2019 // The U.S. Geological Survey says several earthquakes were recorded in south-central Kansas and northern Oklahoma this weekend, but no significant damage was reported. The Kansas City Star reports that one earthquake with a...
U.K. Bans Fracking on Concerns About Earthquake Risk
Nov 4 2019 // The U.K. fracking industry suffered a fatal blow as the Conservative government ended its support for the controversial practice. The move, just weeks ahead of a general election, effectively bans new wells using hydraulic...
Insurer Group: Dallas Tornado Outbreak Costliest in Texas History
Nov 4 2019 // The nine confirmed tornadoes that hit the Dallas, Texas-area late on Sunday, Oct. 20 have caused an estimated $2 billion in damage, an insurer trade group says, making it the costliest tornado loss in Texas history. The...
Wildfire Season Rages on in Southern California as Thousands Flee
Nov 1 2019 // A wildfire that erupted overnight near Los Angeles has forced 7,500 people to flee as the tail end of a powerful windstorm takes its a final swing at Southern California. The blaze in Ventura County ripped through more...
AIG’s P/C Underwriting Results for Q3 Hit by Catastrophes But Not as Badly as Year Ago
Nov 1 2019 // Catastrophe losses prevented American International Group from having a third quarter in a row of property/casualty underwriting profit this year, following many years of losses. AIG said that its General Insurance unit...
Insured Losses from Typhoon Hagibis Estimated at $7B-$11B: RMS
Nov 1 2019 // Insured losses stemming from Typhoon Hagibis in Japan are estimated to range between US$$7 billion and $11 billion, according to Newark, Calif.-based catastrophe modeling firm RMS. While last month’s Typhoon Faxai...
Catastrophe Insurance Data Firm PERILS Expands Coverage to New Zealand
Nov 1 2019 // PERILS, the independent Zurich-based company that provides industry-wide catastrophe insurance data, announced it has extended its market coverage to include New Zealand. PERILS is now making available market-wide property...
Australia Faces More Severe Cyclones, Wildfires, Floods as Climate Warms: IAG
Nov 1 2019 // Australia faces the prospect of more severe cyclones, wildfires and floods as the climate warms, the nation’s largest insurer said. A 3 degree Celsius increase in global temperatures will lead to higher intensity...
South Dakota Governor Requests Disaster Declaration for Tornadoes, Floods
Nov 1 2019 // Gov. Kristi Noem is requesting a presidential disaster declaration for the damage caused by tornadoes and floods that struck southeastern South Dakota in September. Noem made her request in a letter to President Donald...
Higher Limits of Liability for 2020 Disapproved for Texas Windstorm Insurer
Nov 1 2019 // In mid-October, Texas Insurance Commissioner Kent Sullivan denied a request by the Texas Windstorm Insurance Association (TWIA) to raise its maximum liability limits for new and renewal policies with an effective date of...
CEO Greenberg Says Chubb Has Been Able to ‘Reshape Portfolio’ in Wildfire Zones
Nov 1 2019 // Some insurers may be facing sizable risks stemming from the latest round of California wildfires now raging, but Chubb Chairman and CEO Evan Greenberg insists his company isn’t one of them. “We do have a quota...
A.M. Best Says Insurers Challenged by ‘New Normal’ of California Wildfires
Oct 31 2019 // While the number of burned acres in 2019 is still well below the number reported last year through October, experts predict the greatest fire potential will occur from now through December as the Santa Ana winds pick up,...
Industry Applauds House Panel Backing of Terrorism Reinsurance Renewal
Oct 31 2019 // Insurance carriers and agents are applauding a House committee vote advancing a bipartisan measure to renew the federal terrorism reinsurance program. The House Financial Services Committee unanimously (57-0) passed the...
Another $550M in Properties at Immediate Risk in 3 California Blazes, Report Shows
Oct 30 2019 // A catastrophe modeler released figures on Wednesday showing how costly ongoing California blazes could potentially be as blustery winds make for increasingly dangerous fire risk up and down the state. Damages from the...
Womack Named Vice Chair, Morrison Secretary-Treasurer at Texas Windstorm Insurer
Oct 30 2019 // The board of directors of the Texas Windstorm Insurance Association (TWIA) have elected two individuals to fill the recently vacated executive positions of vice chair and secretary-treasurer. TWIA public representative...
PCS Extends Catastrophe Loss Methodology to Australia, N. Zealand, SE Asia
Oct 30 2019 // Property Claims Services (PCS), a Verisk subsidiary, has extended the catastrophe loss aggregation methodology, previously developed for use in Japan, to cover more territories in the region. Starting Jan. 1, 2020, PCS...
Typhoon Hagibis Likely to Cause Earnings Event for Japan’s Insurers: Fitch
Oct 29 2019 // Typhoon Hagibis is likely to be an earnings event for Japan’s three main non-life insurance groups, MS&AD Insurance Groups Holdings, Sompo Japan Nipponkoa Insurance and Tokio Marine & Nichido Fire Insurance...
PG&E Open to Extending California Wildfire Victim Claims Deadline
Oct 29 2019 // PG&E Corp. told a judge it’s willing to extend the deadline for victims of wildfires caused by the utility’s equipment to file claims in its bankruptcy. U.S. District Judge James Donato criticized the...
This Wildfire Metric Threatens to Upend PG&E’s Restructuring Plan
Oct 29 2019 // PG&E Corp. investors looking to learn their fate may not get the answer from the bankrupt power company. Instead, the key data point could pop up within days on the website of California’s forestry...
