Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Mid-Market Firms Fall Short on Natural Catastrophe Risk Management: Assurex Global
Jul 18 2016 // Middle market businesses in all parts of the world view their exposures to natural catastrophes as increasing but some fall short when managing these risks effectively, according to a new survey of senior executives at...
Federal Government Sues California Homeowner for $25M over Wildfire
Jul 18 2016 // The federal government is suing a California homeowner for nearly $25 million, contending his negligence sparked a 2013 fire in the mountains east of Los Angeles that forced 5,000 people from their homes. The lawsuit says...
New Jersey Storms Spawn Tornado, No Injuries Reported
Jul 18 2016 // Weather forecasters have confirmed a tornado touched down in New Jersey. The National Weather Service says a tornado with 75 mph winds was confirmed near White Township on July 14. Tom Smith says he saw a twisting black...
Allianz Names XL Catlin’s Posner Senior Underwriter for Terrorism Insurance in North America
Jul 14 2016 // Allianz Global Corporate & Specialty (AGCS) reported that Adam Posner has been named senior underwriter for Terrorism & Political Violence insurance. Posner will be based in New York and he will report directly to...
Climate Change Exposes U.S. Infrastructure to Natural Hazards, Rand Corp. Says
Jul 14 2016 // Editor’s note: This is the first of a two-part column. A follow up column will focus on how catastrophe modelers are being asked to create products that take into account potential climate change impacts. A report...
XL Estimates Q2 Cats to Cost $240M, Led by Alberta Wildfires
Jul 14 2016 // XL Group Plc, the insurer that expanded last year with the purchase of Catlin Group Ltd., said second-quarter catastrophe costs were probably about $240 million pretax, with wildfires in Alberta, Canada, responsible for...
Southern Colorado Wildfire Expected to Grow
Jul 13 2016 // Firefighters were expecting a wildfire burning near Coaldale to grow Wednesday in dry, windy weather but crews are working toward getting the blaze contained near the town between Canon City and Salida. However, the Hayden...
Kemper Estimates Q2 Catastrophe Losses of $52 Million
Jul 13 2016 // Kemper Corp. said that it estimates that its second quarter 2016 results will include pre-tax catastrophe losses of approximately $52 million. The company said it does not expect to recover any of these losses under its...
Storms & Earthquakes Drive Up Insured Losses in 1H 2016: Munich Re
Jul 13 2016 // Economic losses caused by natural catastrophes in the first half of 2016 totaled US$70 billion, a significant increase from the $59 billion reported for the first half of last year, according to a loss review issued by...
Chubb Estimates Q2 Cat Losses to Rise 54% from Q1 2016
Jul 13 2016 // Property and casualty insurer Chubb Ltd. estimated natural catastrophe losses for the second quarter to be about 54 percent higher than the first quarter, indicating another quarter of high losses due to natural disasters...
Non-Life Cat Bond Issuance Hits $2.8B During 1H 2016: Willis Towers Watson Report
Jul 12 2016 // Total non-life catastrophe bond market issuance for the first half of 2016 rose to $2.8 billion, according to the latest ILS market update from Willis Capital Markets & Advisory (WCMA), the investment banking business...
London Market’s Electronic Placing Platform Binds 1st Standalone Terrorism Risk
Jul 12 2016 // London Market Group (LMG) announce that the first standalone terrorism risk was bound on PPL – the London Market’s electronic placing platform – within the first hour of trading yesterday morning. The broker was...
Twister Causes Widespread Damage in Kansas Town
Jul 11 2016 // A tornado ripped through southeast Kansas late on July 7, causing widespread damage in a small town, though no injuries have been reported. The National Weather Service confirmed that at about 10 p.m. Thursday, the tornado...
Alaska Asking for Input on Updated Tsunami Guidelines
Jul 11 2016 // The University of Alaska Fairbanks and the state officials are seeking public input on new guidelines for how coastal communities should respond to tsunamis. The Kodiak Daily Mirror reported that new modeling shows the...
London Market’s Electronic Placing Platform Begins Trading Terrorism Risks
Jul 11 2016 // London Market Group (LMG) announced that PPL – the London Market’s electronic placing platform began trading today, with brokers and underwriters exchanging information on standalone terrorism risks, the first...
With 2016 Hurricane Season Underway, Florida AOB Storm Mounting
Jul 11 2016 // As hurricane season rolls on in Florida, one of the best protections against storms is a strong homeowner/insurance agent relationship. Having the right policy is just the start. Agents can help homeowners protect...
How Agencies Can Prepare Before the Storm
Jul 11 2016 // Whether it’s an earthquake on the West Coast, a hurricane on the East Coast, tornadoes and floods in the Midwest, or an act of terrorism, all businesses have the potential of being faced with a disaster that can...
Coastal Insurer UPC’s First Catastrophe Bond Provides It with $100M Cover
Jul 8 2016 // Swiss Re Capital Markets said it has structured and placed $100 million of insurance-linked securities (ILS) that cover named storms and earthquakes affecting certain coastal states of the U.S. The bonds have been issued...
Typhoon Nepartak Lashes Taiwan, to Weaken Before Hitting China
Jul 8 2016 // Super typhoon Nepartak hit Taiwan on Friday, driving thousands of people from their homes, disrupting power supply and forcing the cancellation of more than 600 flights, emergency authorities said. Television showed images...
P/C Insurance Results for Q1 Hurt by High Catastrophe Losses, Low Investment Income
Jul 8 2016 // Driven by the highest level of first-quarter catastrophe losses since 2011, the underwriting results of the U.S. property/casualty (P/C) industry in the first quarter of 2016 deteriorated from the prior year. The industry...
