Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Impact of Recent Natural Catastrophes on Insurance Market
Nov 20 2017 // Brokers and insureds are wondering what impact the devastation left by Hurricanes Harvey, Irma, Maria and Nate will have on property insurance rates, capacity and coverage terms. Short term, there will likely be an...
Disaster Planning for Agencies: Minding Your Business
Nov 20 2017 // Northern California and specifically Sonoma and Napa Counties have experienced the worst wildfires in the history of California. Most of these fires began around Oct. 8, 2017, during night with extremely high winds, that...
Hurricane Harvey Caused More than $200M in Crop, Livestock Losses in Texas
Nov 20 2017 // Hurricane Harvey caused more than $200 million in crop and livestock losses, according to Texas A&M AgriLife Extension Service. Hurricane losses by agricultural commodity include: livestock – $93 million; cotton...
More than 63K Recreational Boats Destroyed by Hurricanes Harvey and Irma
Nov 20 2017 // More than 63,000 recreational boats were damaged or destroyed by Hurricanes Harvey and Irma, resulting in a damage estimate of $655 million, according to a national association dedicated to recreational boaters. Boat...
Impact of Natural Catastrophes on Insurance Market
Nov 20 2017 // Brokers and insureds are wondering what impact the devastation left by Hurricanes Harvey, Irma, Maria and Nate will have on property insurance rates, capacity and coverage terms. Short term, there will likely be an...
Grapes of Wrath: Insurance Fallout from the Wine Country Wildfires
Nov 20 2017 // Now that this October’s wine country fires have been contained, the ravaged San Francisco Bay area countryside can begin the rebuilding process. The effects of the wildfires, however, will be further reaching than...
Someone Else’s Wires May Have Started California Wildfires, PG&E Says
Nov 20 2017 // The deadliest of last month’s wildfires in California’s wine country may have been started by electrical equipment not owned or installed by Pacific Gas and Electric Co., the utility said in a court filing...
Impact of Recent Natural Catastrophes on Insurance Market
Nov 20 2017 // Brokers and insureds are wondering what impact the devastation left by Hurricanes Harvey, Irma, Maria and Nate will have on property insurance rates, capacity and coverage terms. Short term, there will likely be an...
Modeler: Insured Losses for California Wildfires Could Reach $10.5B
Nov 16 2017 // Loss estimates for the October California wildfire siege could reach up to $10.5 billion, according to catastrophe modeling firm AIR Worldwide. Boston, Mass.-based AIR on Thursday updated its loss estimates for the recent...
California Utility Blamed in 3 Suits for Deadly Wildfires
Nov 16 2017 // Pacific Gas and Electric Co. was blamed in three lawsuits filed this week for negligence in the wildfires that killed more than 40 people and destroyed over 8,000 homes in Northern California last month. The lawsuits...
Hedge Funds Invest in Reinsurance Stocks on Expected Rate Hikes in 2018
Nov 16 2017 // Hedge funds bought reinsurance stocks in the third quarter after prices tumbled on widespread losses after multiple hurricanes in North America, filings showed on Wednesday. Hurricanes in the United States and the...
Insurers Had Crews Working in Heart of California Wildfires to Prevent Loss
Nov 15 2017 // “It was all hands on deck.” That apt description of the reaction to the deadly outbreak of wildfires that ravaged California in October was from Stephen Poux, global head of risk management and loss prevention...
Texas Division of Workers’ Comp: Employees Stepped Up to Help After Hurricane
Nov 15 2017 // When Hurricane Harvey devastated the Houston area two months ago, Texas Department of Insurance, Division of Workers’ Compensation employees around the state responded rapidly. DWC increased staffing on the customer...
M4.7 Earthquake Shakes Northern California
Nov 15 2017 // A light earthquake has struck in Northern California and been felt by some people in the surrounding area, but there are no immediate reports of damages or injuries, the U.S. Geological Survey confirmed. The quake with a...
Wineries Looking to Make Up Losses Following California Wildfires
Nov 15 2017 // A month after deadly wildfires swept through California’s famed wine country, hot-air balloons are floating again over Napa Valley vineyards splashed with fall colors. On the heels of the disaster, a new winery is...
Austin American-Statesman: Texas Has 100s of Substandard Dams in Populated Areas
Nov 14 2017 // The earthen dam on the outskirts of Georgetown in Texas’ Williamson County certainly does not look flimsy. The Austin American-Statesman reports at 35 feet high and nearly a third of a mile long, it has done a...
California Wildfires May Lead to $8B in Insured Losses: Aon Benfield
Nov 14 2017 // California’s historic wildfires may lead to as much as $8 billion in insured losses. That’s a record for insurers, according to the October 2017 Global Catastrophe Recap from Aon Benfield’s Impact...
Someone Else’s Wires May Have Started California Wildfires, PG&E Says
Nov 13 2017 // The deadliest of last month’s wildfires in California’s wine country may have been started by electrical equipment not owned or installed by Pacific Gas and Electric Co., the utility said in a court...
New Phase in California Wildfire Cleanup: Clearing Ruins
Nov 13 2017 // Rumbling bulldozers and front-loaders have started scraping up the ash, charred wood and crumbled bricks and concrete left from thousands of homes and buildings destroyed by blazes in California wine country, launching a...
Allianz Cuts 2017 Profit Projection After Q3 Natural Catastrophe Claims
Nov 13 2017 // Allianz has slightly downgraded its profit outlook for the full year after increased claims from natural disasters in North America, the German insurance giant’s finance chief said. Hurricanes Harvey, Irma and Maria,...
