Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
History Shows Economies Are Resilient After Terrorist Attacks
Nov 16 2015 // The French economy has history on its side. From the attacks of September 11 to those on Spain in March 2004 and London in July 2005, industrial economies have proven more resilient to terrorism than first feared,...
Wildfires, and Now El Niño, May Boost Californians’ Appetites for Surplus Lines
Nov 16 2015 // There’s little question that the drought and the recent wildfire season that it unleashed pushed more California homeowners into the surplus lines market. Now with what appears to be a strong El Niño on the horizon...
Paper Fingers Climate Change for California Wildfires
Nov 12 2015 // There was a bit of hesitation from National Oceanic and Atmospheric Administration scientist Stephanie C. Herring when she was asked questions about the increased risk and the implications of that risk for the insurance...
Brazil Vows to Make BHP & Vale Pay Fine & Cleanup Costs for Mine ‘Catastrophe’
Nov 12 2015 // Brazil’s government said on Wednesday it may fine mining giants BHP Billiton Ltd and Vale SA for the “environmental catastrophe” caused by ruptured dams at an iron ore mine jointly owned by the companies...
Kate Becomes 4th Atlantic Hurricane of 2015
Nov 11 2015 // Hurricane Kate became the fourth Atlantic hurricane of 2015 early Wednesday morning, passing well north of Bermuda, according to a report from Weather Underground. “Kate is racing northeast, caught up in the jet...
Many Have Died in ‘Subpar’ Atlantic Hurricane Season
Nov 10 2015 // The 2015 Atlantic hurricane season may end up being remembered for a subpar number of storms, even though the total still beat early forecasts and more than 50 people died. The season, which also lags behind in terms of...
RMS: Cat Bond Analysis Reveals Market Predictions of Price Bottom Are Optimistic
Nov 10 2015 // Return relative to risk values for catastrophe bonds at current prices are actually higher in 2015 than they were last year, even though recent market commentary suggests that market prices have stabilized, according to...
Cyclone-Heavy Hurricane Season Not Over Yet
Nov 9 2015 // For a few minutes last Wednesday, there weren’t any hurricanes, cyclones, typhoons or tropical storms anywhere in the world. The respite didn’t last long. Thursday morning, the U.S. Navy and Air Force’s...
ACE Appoints Brown as Political Violence & Terrorism Underwriter at AOG Unit
Nov 6 2015 // ACE Group has appointed Cara Brown as political violence & terrorism underwriter, ACE Overseas General, with immediate effect. Brown is responsible for assisting in the development of global business within both...
Global Cat Losses in October Likely to Top $10 Billion: Impact Forecasting Report
Nov 6 2015 // Global catastrophe losses in October are expected to top $10 billion, according to a report from Impact Forecasting, Aon Benfield’s catastrophe model development unit. A record 22 global tropical cyclones have now...
Mexico Catastrophe Bond Likely to Pay on Hurricane Patricia’s Losses: S&P
Nov 5 2015 // Bonds sold by Mexico to shield it from the cost of repairing hurricane damage are closer to paying out after the biggest storm ever measured in the Americas struck the country last month, Standard & Poor’s...
A.M. Best Upgrades Issuer Credit Rating of Auto Club Insurance Company of Florida
Nov 5 2015 // A.M. Best has upgraded the issuer credit rating (ICR) to “bbb+” from “bbb” of Auto Club Insurance Company of Florida (ACICF) in Tampa. Concurrently, A.M. Best has affirmed ACICF’s financial...
Wildfires, and Now El Niño May Boost Californian’s Appetites for Surplus Lines
Nov 3 2015 // There’s little question that the drought and the recent wildfire season that it unleashed pushed more California homeowners into the surplus lines market. Now with the onset of what appears to be a strong El Niño...
Kansas Extends Wastewater Injection Limits Until at Least Mid-March
Nov 2 2015 // Oil and gas industry restrictions meant to decrease the frequency and intensity of earthquakes in south-central Kansas will remain in place until at least March 2016, state regulators have decided. The Kansas Corporation...
Death Toll in Storm-Lashed Texas Rises to 6
Nov 2 2015 // The death toll rose to six in Texas as more bodies were recovered on Oct. 31 after another band of strong storms and heavy rain spawned three tornadoes and dangerous flooding in the waterlogged state. It was the second day...
A Landslide of Bad Ideas
Nov 2 2015 // Landslides are a problem for which the United States has yet to come up with an answer. A recent essay by Penn State University law professor Christopher C. French – titled “Insuring Landslides: America’s...
Oklahoma Commissioner to Insurers: Clarify Earthquake Coverage
Nov 2 2015 // In response to questions from consumers about earthquake coverage, Oklahoma Insurance Commissioner John Doak is requiring property insurers in the state to issue a clarifying notice of earthquake coverage. In announcing...
99.9 Percent Probability of L.A.-Area Earthquake: Study
Nov 2 2015 // There is a 99.9 percent chance of a magnitude-5 or greater earthquake striking within three years in the greater Los Angeles area, where a similar sized temblor caused more the $12 million in damage last year, according to...
Guy Carpenter Says Wildfire Losses May Exceed $1.75B
Nov 2 2015 // A briefing from Guy Carpenter & Company, LLC in late October shows more than 9 million acres were burned by wildfires so far this year, most of that occurring in the Western U.S, and that insured losses from wildfires...
Wildfires Threat in Texas Increased Over Past 15 Years
Oct 30 2015 // Larger, more threatening wildfires are occurring at greater rates as Texas faces lingering drought, consistent development — driven by millions of new residents and the spread of outlying suburbs — and changes in how...
