Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Italy Earthquake Unlikely to Trigger 200M Euro Cat Bond Cover: Investors
Aug 24 2016 // A powerful earthquake in Italy on Wednesday is unlikely to force UnipolSai’s 200 million euro ($226 mln) catastrophe bond into default as the bond has low exposure to the affected region, the Italian insurer...
Low Prices Ultimately Could Bite London Market Insurers: A.M. Best, PwC Reports
Aug 24 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...
Oregon Officials Believe Arson Behind 14 Or More Wildfires
Aug 23 2016 // State authorities and forest officials say at least 14 wildfires that have erupted across central Oregon over the last three weeks are believed to have been intentionally started. Officials did not release details on which...
Caribbean Cat Facility, CCRIF, Pays Belize for Excess Rain From Hurricane Earl
Aug 23 2016 // CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) made a pay-out of US$261,073 to the government of Belize as a result of heavy rains from Hurricane Earl on Aug. 4-5. Rainfall from the hurricane caused...
Soft Prices May Bring Reinsurer Losses when Typical Cat Levels Return: Execs
Aug 23 2016 // It won’t take another Hurricane Katrina for reinsurers to face losses from covering the cost of storms and earthquakes. Competitors such as hedge funds have eroded prices so much that a typical year of claims could...
Tornado Causes Property Damage in Michigan but No Injuries or Deaths
Aug 22 2016 // A storm that appeared to spawn at least one tornado slammed parts of western Michigan on Saturday, causing extensive damage but no injuries or loss of life, authorities said. State Police spokesman Dale Hinz said damage...
Typhoon Mindulle Batters Tokyo, Bringing Risk of Floods and Landslides
Aug 22 2016 // Tokyo was pummeled by rain and winds as Mindulle became the first typhoon to make landfall near the metropolitan region in 11 years on Monday, bringing the risk of floods and landslides. The typhoon’s center was...
Oregon University Confidently Building $50M Center in Tsunami Zone
Aug 22 2016 // Oregon State University is moving ahead with plans to build a $50 million expansion to house its marine science initiative in a tsunami inundation zone in Newport despite warnings from a state geologist that the site could...
Monstrous Southern California Wildfire Displaces More than 80,000
Aug 18 2016 // It tore through canyons and flew over ridges in every direction with astonishing speed, sending flames 80 feet skyward and forcing tens of thousands to flee their homes. The Southern California wildfire that began as a...
Natural Catastrophes Drive Global Insured Losses to $31B in H1: Swiss Re’s Sigma
Aug 18 2016 // Global insured losses from natural catastrophes and man-made disasters during the first half of 2016 reached US$31 billion, or 44 percent of total economic losses of US$71 billion, according to a report issued by Swiss...
Tropical Storm Fiona, 6th Storm of 2016, Forms in Central Tropical Atlantic
Aug 18 2016 // Tropical Storm Fiona, which formed more than 900 miles west of the Cape Verde Islands, is forecast to track across the open Atlantic for at least the next five days, the U.S. National Hurricane Center said. Fiona, the...
South Carolina Approves Updated RMS North Atlantic Hurricane Models
Aug 18 2016 // Versions of global catastrophe risk management firm RMS’ North Atlantic Hurricane Models have been approved by South Carolina’s Department of Insurance for the purpose of residential rate filings. Approval for...
Oklahoma Geological Survey Studying Injection Well/Earthquake Connection
Aug 17 2016 // The Oklahoma Geological Survey is studying the relationship between seismic activity and wastewater injection wells with a survey in the Arbuckle formation. Sensors will be placed into several injection wells in the...
Reinsurers May Reassess Cat Exposures When Normal Claims Levels Return: S&P
Aug 17 2016 // Most global reinsurers have been able to maintain underwriting discipline despite the ongoing soft market, but there is a danger that their profits could be hit if the current benign period of natural catastrophes returns...
Family of Washington Man Killed by Tree Toppled in Windstorm Sues
Aug 16 2016 // The family of a Washington state man who was killed during an intense windstorm when a tree fell on his car has filed a wrongful death lawsuit against the developer of the project where the tree was located. Jamie Fay was...
Palomar Specialty Launches New Earthquake Product in Missouri
Aug 16 2016 // Palomar Specialty Insurance Co. has launched a new residential earthquake insurance product called Flex Choice for residents of Missouri. Flex Choice allows consumers to customize their residential earthquake coverage to...
Another Mag 4.0 Earthquake Reported in Northwest Oklahoma
Aug 15 2016 // The U.S. Geological Survey reports a 4.0 magnitude earthquake in northwestern Oklahoma. The USGS says the quake was recorded at 12:27 a.m. 12 miles northeast of Helena, about 85 miles northwest of Oklahoma City. There have...
Wildfire Destroys More than 100 Homes in Northern California
Aug 15 2016 // A wildfire stuck a Northern California town still recovering from a massive fire nearly a year ago, destroying more than 100 homes and forcing thousands to flee, authorities said Monday. Gusts kicked up flames on Sunday...
Court Absolves Twitter of Liability for Terrorists’ Tweets
Aug 15 2016 // Twitter Inc. won a court ruling that it can’t be held responsible for the so-called Islamic State’s use of the social network to spread propaganda that may have led to the death of an American in Amman,...
Weather Services Classifies Storm Near Wyoming Town as Tornado
Aug 12 2016 // The National Weather Service has classified the windstorm that damaged 16 homes near Gillette last weekend as a tornado. The Gillette News Record reported that the weather service says the EF-1 tornado with wind speeds...
