Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Growing Climate Risks May Be ‘Impossible to Model’ – and Ultimately Uninsurable
Nov 13 2017 // After one of the worst Atlantic hurricane seasons in history, the world’s biggest insurers say the industry needs to get its act together if it wants to survive climate change. Insuring against weather natural...
Insurers Face Potential $1 Billion in Claims for Las Vegas Mass Shooting
Nov 13 2017 // The deadliest mass shooting in modern U.S. history is adding to soaring costs for insurance companies, which are already taking a beating this year from an onslaught of hurricanes, earthquakes and wildfires. The industry...
Resilience Economics Bringing Climate Products to New Sectors
Nov 9 2017 // Resilience Economics Ltd. seems poised to capitalize on climate change. Cedent Ltd. this month launched the corporate finance advisory firm focused on climate risk with an initial $500 million of capacity from strategic...
Boats Took $655 Million Beating This Hurricane Season: BoatUS
Nov 9 2017 // More than 63,000 recreational boats were damaged or destroyed as a result of Hurricane Harvey and Hurricane Irma, with a combined dollar damage estimate of $655 million, according to the Boat Owners Association of the...
Munich Re Reports Q3 Loss of $1.6B; Tallies Industry Hurricane Losses at $100B
Nov 9 2017 // Insured losses from three big hurricanes in North America this year have cost the industry around $100 billion, German reinsurance giant Munich Re said on Thursday. Damages from storms Harvey, Irma and Maria of that...
Hurricane Harvey Caused More than $200M in Crop, Livestock Losses in Texas
Nov 8 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...
Hannover Re Sells Entire Stock Portfolio to Pay for Catastrophe Claims
Nov 8 2017 // For Hannover Re, the world’s third-biggest reinsurer, it’s time to take profits in the stock market. The German company said on Wednesday that it sold its entire stock portfolio, worth about 953 million euros...
Officials: Small Ohio City Hit by Possible Tornado, 8 Injured
Nov 7 2017 // At least eight people have been injured after a possible tornado hit a small Ohio city. Mercer County officials say six people were hurt when a restaurant in Celina was damaged during Sunday’s storms. One person was...
Typhoon Damrey’s Vietnam Death Roll Rises; AIR Worldwide Comments
Nov 7 2017 // A powerful typhoon that rocked Vietnam has killed at least 44 people, left more than a dozen missing and caused extensive damage to the country’s south-central region ahead of a summit that will draw leaders from...
Puerto Rico Bond Insurers’ Stocks Fall After ’60 Minutes’ Episode on Hurricane Maria
Nov 7 2017 // Shares of three major bond insurance firms with exposure to Puerto Rico fell on Monday after a “60 Minutes” episode aired on Sunday highlighted the extensive damage wreaked on the island by Hurricane...
What to Expect for Commercial Insurance Pricing for 2018: WTW’s Marketplace Realities
Nov 6 2017 // Commercial insurance buyers should brace for rate increases for 2018 insurance as the industry continues to tally losses following one of the most financially disruptive hurricane seasons in history, according to global...
Berkshire Insurance Units Take Q3 Hit from U.S. Hurricanes, Mexico Earthquake
Nov 6 2017 // Bad weather hurt Warren Buffett’s Berkshire Hathaway Inc. in the third quarter, as insurance losses tied to Hurricanes Harvey, Irma and Maria and an earthquake in Mexico contributed to a 43 percent drop in...
Despite Earthquake Risk, UK Ready to Begin Fracking – Again
Nov 6 2017 // Six years after Britain’s first fracking operation was stymied by earth tremors, its shale gas industry is poised to try again with a technology that could transform the UK gas market and drastically reduce its...
Does a CPP Cover Trees Knocked Over by a Hurricane?
Nov 6 2017 // When a hurricane blows through, it isn’t just the trees on a homeowner’s property that could be damaged. There could be trees on a business’ property that are damaged as well. Does the commercial property...
How Warming Seas Could Cost South Carolina $12 Billion
Nov 6 2017 // If oceans warm at a rate predicted by the Intergovernmental Panel on Climate Change, the United Nation-sponsored group that assesses climate change research and issues periodic reports, expected financial losses caused by...
Insured Losses from Hurricane Nate Could Top $1B
Nov 6 2017 // Catastrophe modeling companies have estimated insured losses from Hurricane Nate will reach $500 million and could even top $1 billion. Hurricane Nate formed as a tropical depression on Oct. 4, 2017, and was upgraded to a...
Georgia Estimates $550M in Insured Losses from Hurricane Irma
Nov 6 2017 // Georgia’s estimated insured losses from Hurricane Irma have climbed to more than $550 million, with insurers reporting approximately 103,163 claims filed as of October, according to Georgia Insurance Commissioner...
Commissioner Denies Texas Windstorm Insurance Association Request to Raise Liability Limits
Nov 6 2017 // Texas Insurance Commissioner Kent Sullivan in mid-October declined to approve a request by the Texas Windstorm Insurance Association to raise the maximum limits of liability on windstorm and hail policies. TWIA filed a...
Officials Confirm Oklahoma Casino Hit with EF1 Tornado
Nov 6 2017 // Emergency managers say an Oklahoma casino had part of its roof torn off by an EF1 tornado during a concert that the state’s governor was attending in late October. The twister touched down in Cleveland County, one of...
Hurricane Damage Tracked by East Texas Company’s Drones
Nov 3 2017 // Unmanned aircraft helped a Nacogdoches, Texas, business survey hurricane damage with a degree of speed and safety once thought impossible. The Daily Sentinel reports after Hurricane Harvey battered the Texas coast and...
