Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Louisiana Citizens Insurance Settles Remaining 2005 Hurricane Claims
Nov 1 2013 // A state-run insurance company of last resort in Louisiana has settled the remaining claims in a class-action lawsuit tied to how it handled claims after Hurricanes Katrina and Rita in 2005. The New Orleans Advocate reports...
Oklahoma Commissioner Urges Purchase of Earthquake Insurance
Oct 30 2013 // Oklahoma Insurance Commissioner John D. Doak is encouraging Oklahomans to purchase earthquake insurance after a new report predicts continued seismic activity in the central part of the state. The U.S. Geological Survey...
Risk Managers: Loss of TRIA Would Limit, Possibly End, Terrorism Coverage
Oct 30 2013 // A majority of risk professionals believe expiration of the federal terrorism reinsurance program would result in a decrease of affordable terrorism coverage or, even, the total elimination of the coverage, according to a...
UPDATE: AIR Worldwide Reports on European Windstorm Christian
Oct 30 2013 // Catastrophe modeling firm AIR Worldwide continued its analysis of Windstorm “Christian,” which smashed into southern Britain Monday, October 28, knocking over trees, flooding lowlands, and disrupting land, sea,...
Munich Re Stresses Need for Nat Cat Coverage in Emerging Markets
Oct 30 2013 // According to a scientific study conducted by the University of Würzburg on the basis of loss data from Munich Re’s NatCatSERVICE database, “emerging countries are excessively affected by losses from natural...
1-Year Anniversary of Sandy Offers Lessons Learned for Coastal Residents
Oct 29 2013 // One year ago, Superstorm Sandy struck a dozen states in the Northeast and became the third costliest storm in U.S. history, after hurricanes Katrina and Andrew, according to the Insurance Information Institute...
Texas Holds Oct. 30 Hearing on Windstorm Liability Limit Increases
Oct 29 2013 // The Texas Department of Insurance will hold a hearing on Oct. 30 to consider a petition by the Texas Windstorm Insurance Association to raise the maximum limits of liability for windstorm and hail insurance policies...
Fitch Affirms California Earthquake Authority’s ‘A’ Rating
Oct 29 2013 // Fitch Ratings has affirmed the “A” rating on California Earthquake Authority’s outstanding fixed-rate revenue bonds, which mature on July 1, 2016. Fitch has also affirmed CEA’s Issuer Default Rating...
USGS: Quakes in Central Oklahoma Here to Stay
Oct 28 2013 // Prague, a central Oklahoma town of 2,400, claims two things as its own: Olympian Jim Thorpe and an annual kolache festival that honors its Czech heritage every May. Some locals here say the place should be known for a...
How a Run-of-the-Mill Hurricane Mutated Into a Superstorm Named Sandy
Oct 28 2013 // It was the moment a run-of-the-mill hurricane mutated into a monster named Sandy. Paradoxically, it was the same time Sandy lost much of its wind power, dropping from a hurricane to a tropical storm. It was a Friday night...
Aon Benfield’s Impact Forecasting Models Sandy Storm Surge
Oct 28 2013 // Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, announced that it is “helping insurers and reinsurers prepare for current and future U.S. hurricane seasons with its...
Study Suggests Topography Can Strengthen Tornadoes
Oct 25 2013 // The Georgia town of Trenton seems to fit the model. Two people died there about a block from each other. Ringgold, Ga., does, too. Death toll there: 8. In both cases, National Weather Service maps that tracked the April...
Alabama Creates Research Center to Study Home Insurance
Oct 25 2013 // Gov. Robert Bentley is creating a research center at the University of Alabama to try to improve the availability and affordability of homeowners insurance following hurricanes and tornadoes that demolished homes from the...
U.K. Braces for Hurricane-Force Winds in Worst Storm Since 1990
Oct 25 2013 // Southern England is girding for 90 mile-per-hour winds as the biggest storm since 1990 is forecast to fell trees and damage buildings. Rain and high winds are predicted to lash the area on the evening of Oct. 27 through to...
Atlantic Hurricane Season Quietest in 45 Years, Experts Say
Oct 25 2013 // The 2013 Atlantic hurricane season looks set to go down as a big washout, marking the first time in 45 years that the strongest storm to form was just a minor Category 1 hurricane. There could still be a late surprise in...
‘Moral Hazard’ Isn’t a Good Reason to End TRIA
Oct 23 2013 // My friend Mark Calabria at the Cato Institute has a good piece in Roll Call that makes the case for allowing the Terrorism Risk Insurance Program to lapse. I’m sympathetic to him in the medium term but, given the...
Hannover Re Sees Higher Rates in Germany on Floods, Hailstorms
Oct 23 2013 // Hannover Re, the world’s third largest reinsurer, said it expects higher rates for insurance and reinsurance in Germany following this year’s flooding and hailstorms, which led to the most costly claims in 30...
University of Alabama Studies Impact of 2011 Tornado on Foreclosures
Oct 21 2013 // A University of Alabama study has found that the April 2011 tornado didn’t severely impact home foreclosures in the Tuscaloosa area. Sociologist Bronwen Lichtenstein says researchers noted a slight decrease in...
Wildfire Emergency Declared in Australia State as Homes Lost
Oct 21 2013 // Australia’s most populous state declared an emergency as wildfires tore through bush land west of Sydney, destroying hundreds of homes and threatening mountain townships. New South Wales State Premier Barry...
As Many as 9 Tornadoes Reported in Nebraska, Iowa
Oct 21 2013 // As many as nine tornadoes – at least one rated a powerful EF3 – touched down across northeast Nebraska and northwest Iowa as a storm cell moved over the region in the evening on Oct. 4, causing structural damage and...
