Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
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...
Global Flood Events Rack Up $5B in Economic Costs in June: Aon Report
Jul 8 2016 // Major floods across the globe during June – topped by events in China and the U.S. – are expected to bring economic costs in excess of US$5.0 billion, according to Impact Forecasting, Aon Benfield’s catastrophe...
Alberta Wildfires to Cost Insurers About $2.8B, in Canada’s Costliest Disaster
Jul 8 2016 // The wildfires that tore across the oil-producing region of Canada this year will cost insurers about C$3.58 billion ($2.8 billion) in claims, the most costly insured natural disaster in the country’s history, an...
Taiwan Readies for Typhoon Nepartak; AIR Worldwide Comments
Jul 7 2016 // Taiwan told schools and offices along its eastern coast to close early Thursday as Typhoon Nepartak threatens to unleash strong winds and heavy rain across the island through Friday. Airlines canceled or rerouted flights...
National Weather Service Confirms 3 Tornadoes in Kentucky, West Virginia
Jul 7 2016 // Three tornadoes have been confirmed in eastern Kentucky and West Virginia from recent storms, the National Weather Service said Tuesday. After sending a team Tuesday to survey damage reports from Monday’s...
Wildfire Threat in California, Southwest High in July
Jul 5 2016 // Forecasters say the threat of wildfires will remain high in Southern California and the Southwest this month because of persistent drought and because summer rains may not be as consistent as usual. The National...
Marsh: Industry Must Adapt to Meet Changing Terrorist Threats
Jul 5 2016 // The federal terrorism reinsurance program in 2015 has helped maintain certainty and stability for the U.S. market even as the nature of terrorist acts has changed, according to global insurance broker Marsh in its latest...
Treasury Recommends Some Terrorism Premiums Be Retained for Future Claims
Jul 5 2016 // In a report that concludes that the federal terrorism risk insurance program “remains an important mechanism” for ensuring that terrorism risk insurance is available and generally affordable, the U.S. Treasury...
California Earthquake Authority Wins Top Marketing Award
Jul 1 2016 // The California Earthquake Authority won the SAMMY Award for “overall Best of Show” at the 58th Annual Insurance Marketing & Communications Association Showcase Awards Gala. The SAMMY Award was voted on by...
Colorado State Ups Atlantic Hurricane Forecast to 15 Storms
Jul 1 2016 // Colorado State University edged up its seasonal Atlantic hurricane forecast to 15, three more than in an average year. The new prediction is that six of those storms will become hurricanes and two will grow into major...
Religious Extremists, ‘Lone Wolf’ Attacks Changing Political Risk Landscape
Jun 30 2016 // In a short period of time, the political risk market has experienced a significant shift in exposures, with new potential threats and different territories now threatened by attacks from religious extremists. Christof...
