Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Sweltering Heatwave in Germany Sparks Wildfires, Forces Speed Cut on Autobahn
Jun 27 2019 // A blistering heatwave prompted Germany to impose speed restrictions on usually limit-free stretches of its high-speed motorways Wednesday, the latest sign of extreme weather events ruffling Europe’s largest...
National Weather Service Confirms Rare West Virginia Tornado
Jun 27 2019 // The National Weather Service says storm-related damage indicates that a rare tornado touched down in West Virginia. The weather service tweeted that a tornado hit the Alum Creek area Monday night along U.S. Route 119...
What Passed, What Didn’t: New Florida Laws Taking Effect July 1
Jun 27 2019 // The Florida Legislature looked at and passed many pieces of legislation in the 2019 session that will impact the insurance industry. The following are summaries of what passed — and what didn’t. What Passed HB 7065...
Jump in Western U.S. Wildfires Means Smoke’s Health Impact Will Spread
Jun 26 2019 // Climate change in the Western U.S. means more intense and frequent wildfires churning out waves of smoke that scientists say will affect tens of millions of people and cause premature deaths to spike. That’s...
Bondholders Propose Bankruptcy Exit Plan Up to $30B for PG&E
Jun 26 2019 // A committee of bondholders of PG&E Corp.’s utility unit on Tuesday proposed a bankruptcy reorganization plan that would inject up to $30 billion to help the California power provider emerge from Chapter 11 and...
Top 15 Metro Areas at Risk this Hurricane Season
Jun 26 2019 // This post is part of a series sponsored by CoreLogic. Hurricanes are often some of the most destructive and costly natural hazards. Their impact on homes, businesses and infrastructure comes in the form of strong winds and...
Florida Keys to Receive $21M for Hurricane Irma Recovery
Jun 26 2019 // Officials say the Florida Keys will receive $21 million for Hurricane Irma recovery, along with $35 million for affordable housing. Gov. Ron DeSantis announced the money during a Thursday news conference in Marathon. The...
Oregon Lawmakers Repealed Tsunami Zone Building Law
Jun 25 2019 // The Oregon Legislature has repealed a nearly 25-year-old law prohibiting new schools, hospitals, jails, and police and fire stations from being built in the state’s tsunami inundation zone. The Statesman Journal...
Report Says Major Hurricane Could Cost Virginia $40B
Jun 25 2019 // Experts say that southeastern Virginia could suffer $40 billion in losses if it’s struck by a major hurricane. Professors from Old Dominion University said in a recent report that the damages could seriously puncture...
Texas Windstorm Insurer Funded at $4.2 Billion for 2019 Hurricane Season
Jun 24 2019 // Texas’ insurer of last resort for properties in counties along the state’s coastline says it has $4.2 billion in available funds as this year’s hurricane season gets underway. By comparison, at the start...
California Governor Wants Wildfire Fund to Help Utilities
Jun 21 2019 // California Gov. Gavin Newsom is pressing lawmakers on a wildfire fund that may be financed through bonds to help utilities pay for the catastrophic blazes their power lines keep igniting, according to people familiar with...
Hamilton Re Sponsors Issuance of Its First Cat Bond
Jun 21 2019 // Hamilton Re has sponsored issuance of its first catastrophe bond. The reinsurance platform of Bermuda-based holding company Hamilton Insurance Group said that the issuance has taken place through its Hamilton Capital...
AIR Worldwide Releases Update of New Zealand Earthquake Model
Jun 21 2019 // Catastrophe risk modeling firm AIR Worldwide (AIR) announced the release of its updated earthquake model for New Zealand. This model incorporates the latest scientific research after the 2010–2011 Canterbury earthquake...
Ghost of Harvey Looms Large as 2019 Hurricane Season Gets Underway
Jun 21 2019 // Compared with 2017, last year’s hurricane season was a relatively quiet one for the Gulf Coast states of Louisiana and Texas, with major U.S. storm systems such as Hurricanes Michael and Florence staying well to the...
Weather Service Ups Weekend Tornado Count in Indiana to 10
Jun 20 2019 // Officials have confirmed that a 10th tornado struck Indiana as part of a weekend outbreak that damaged a school, a shopping mall and other buildings. The National Weather Service issued the update Tuesday, saying the...
Texas Calls for 2018 Catastrophe Data on Commercial Property, Business Insurance
Jun 20 2019 // The Texas Department of Insurance (TDI) has issued special data call to companies that wrote direct commercial property or businessowners insurance in Texas and to certain farm mutual insurance companies that wrote...
Tornado Damages Homes in Mississippi; No Injuries Reported
Jun 20 2019 // Forecasters say a tornado caused some damage in Hinds County – a somewhat uncommon storm for June in central Mississippi. The National Weather Service says the EF-1 twister struck Monday near Raymond, Mississippi. No...
How PG&E’s $1B to Local Governments for Wildfire Damage Will be Paid
Jun 20 2019 // A California utility agreed Tuesday to pay $1 billion to 14 local governments to cover damages from a series of deadly wildfires caused by its downed power lines. The settlement is a sliver of the more than $30 billion in...
Insured Property Losses for December 2018 Sydney Hailstorms Rise to A$766M: PERILS
Jun 20 2019 // Insured losses for the hailstorms, which hit the greater Sydney region on Dec. 20, 2018, have risen to A$766 million (US$526.6 million), according to PERILS, in its third loss estimate for the storms. PERILS, the...
Caribbean Insurers’ Net Income Rebounds After 2016-2017 Hurricane Seasons: AM Best
Jun 19 2019 // An analysis of AM Best-rated property/casualty insurers based in the Caribbean found that overall net income rebounded significantly following the 2016-2017 hurricanes to $32.2 million in 2018 compared with a $4.3 million...
