Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
New York Businesses Advised to Check Insurance in Wake of Chelsea Terrorism Bombing
Sep 20 2016 // New York Governor Andrew Cuomo has identified the incident where a bomb went off from inside a dumpster in New York’s Chelsea neighborhood, injuring 29 people, as an act of terrorism. “I said yesterday I...
Lockton Launches Corporate Terrorism Product with London Markets
Sep 20 2016 // Insurance broker Lockton, in conjunction with London Market insurers Hiscox, Beazley, Talbot and XL Catlin, have launched a new product – Terrorism Crisis Solutions (TCS) – designed to offer corporate clients a...
Hurricane Ike-Damaged Roofs to Get Repaired – 8 Years After Storm
Sep 20 2016 // Blue tarps that still cover hundreds of storm-damaged homes in Houston — including some houses battered by Hurricane Ike in 2008 — could finally be gone thanks to a new city program that’s promising to perform...
AIR Worldwide Expands Global Terrorism Risk Model
Sep 19 2016 // Catastrophe risk modeler AIR Worldwide has expanded the capabilities of its terrorism risk model to support scenario testing for the United States and 27 other countries to help companies assess the impact of different...
Low Prices Ultimately Could Bite London Market Insurers: A.M. Best, PwC Reports
Sep 19 2016 // The business outlook for the London insurance market is a familiar one across other global markets: underwriting profits are under pressure as ongoing soft market prices begin to take a toll. In separate reports on the...
September Earthquake Deemed Oklahoma’s Strongest on Record; Insured Costs Uncertain
Sep 19 2016 // An earthquake that hit Pawnee, Okla., in the north central part of the state on Sept. 3 was upgraded on Sept. 7 from the preliminary 5.6 magnitude estimate to a 5.8 magnitude temblor by the U.S. Geological Survey, making...
Florida’s First Hurricane in 11 Years ‘Could Have Been a Lot Worse’ for Industry
Sep 19 2016 // The 11-year hurricane drought in Florida is officially over. While preliminary damage estimates and claims are still trickling in from Hurricane Hermine, Florida’s first named hurricane since 2005, the consensus from...
Typhoon Meranti Hits China; 6 Reported Dead, More Missing
Sep 16 2016 // At least six people died and six are missing as Typhoon Meranti, the strongest storm in the world this year, passed through China. The storm, which earlier killed one person and injured several in Taiwan, claimed three...
Galveston Completes Most Hurricane Ike Recovery Projects
Sep 15 2016 // Most municipal recovery projects in Galveston in the wake of Hurricane Ike have been finished in the eight years since the storm battered the island. Ike made landfall in Galveston on Sept. 13, 2008. The Galveston County...
Tropical Storm Julia Weakens Along Southeast Coast
Sep 15 2016 // Tropical Storm Julia weakened into a depression and is expected to meander off the coast of Georgia and South Carolina for the next few days, the U.S. National Hurricane Center said on Thursday. Julia is located about 60...
Super Typhoon Meranti Batters Taiwan: Risk Modelers AIR, RMS Assess Impact
Sep 15 2016 // Super Typhoon Meranti delivered very strong wind, high storm surge, and flooding precipitation to southern Taiwan as it passed through Luzon Strait near noon local time Wednesday. According to catastrophe modeling firm AIR...
Oklahoma Insurance Commissioner Clarifies Quake Coverage Moratoriums
Sep 14 2016 // Oklahoma Insurance Commissioner John D. Doak wants to alleviate concerns about six-month moratoriums on purchasing earthquake insurance. The concerns were raised after a 5.8 magnitude earthquake in Pawnee on Sept. 3. A...
Oklahoma Quake Insured Costs Uncertain; Swiss Re Suggests New Products Needed
Sep 13 2016 // Damage estimates of insured losses from the earthquake that hit Pawnee, Okla., in the north central part of the state on Sept. 3 likely won’t be available until early October, according to an insurance department...
Cat-Insurance Data Provider PERILS Expands Into Australia
Sep 13 2016 // PERILS, the independent Zurich-based company providing industry-wide catastrophe insurance data, has extended its market coverage to include Australia. PERILS now provides market-wide property sums insured that are exposed...
China’s Fujian Province Braces for Super Typhoon Meranti
Sep 12 2016 // Already equivalent to a Category 4 hurricane with maximum 10-minute sustained winds of 115 knots (212 km/h, 132 mph), super typhoon Meranti is expected to strengthen during the next few days and then make landfall on the...
Florida’s First Hurricane in 11 Years ‘Could Have Been a Lot Worse’ for Industry
Sep 12 2016 // A large oak tree toppled over a Whataburger restaurant in Tallahassee, Fla., Sept. 2, 2016. Many businesses and homes in Tallahassee are without power and several roads are blocked due to tree damage caused by Hurricane...
4 Tornadoes Sweep Through Central Illinois, Damage Reported
Sep 12 2016 // The National Weather Service is confirming that at least four tornadoes swept through east-central Illinois. Personnel from the weather service’s Lincoln office are surveying damage Saturday in Champaign and...
U.S. Disaster Loans Approved After Indiana Tornadoes
Sep 12 2016 // Indiana Gov. Mike Pence says the U.S. Small Business Administration has approved low-interest disaster loans for tornado-stricken Howard County. Pence said that the contiguous counties of Cass, Carroll, Clinton, Tipton,...
Catastrophe Bond Issuance Down But Returns Up: Aon
Sep 9 2016 // Catastrophe-bond issuance slipped to its lowest level since 2011 over the past year as the securities outperformed the S&P 500 Index, according to insurance broker Aon Plc. About $5.2 billion in cat bonds was issued in...
Lloyd’s Wins Right to Keep Oklahoma Quake Damage Lawsuit in New York
Sep 8 2016 // Lloyd’s of London has kept its lawsuit against New Dominion LLC over fracking out of the state where the ground is shaking. A federal judge in New York agreed Wednesday to decide the lawsuit by Lloyd’s seeking...
