Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Travelers Profit Soars to $864M in Q3 as Catastrophe Losses Fall
Oct 18 2012 // The Travelers Companies Inc. reported today $864 million net profit for the third quarter — up 159 percent from the same period a year ago when the insurer posted a $333 million profit. Travelers’ latest...
Rafael, 9th Hurricane, Bypasses Bermuda; Tropical Storm Paul Weakens
Oct 17 2012 // Rafael became the season’s ninth hurricane on Monday after tracking through the Leeward Islands. The storm then bypassed Bermuda late Tuesday evening. As of the National Hurricane Center’s Wednesday, 5:00 AM...
Iowa on Pace for Slowest Tornado Year in 5 Decades
Oct 17 2012 // Iowa is on pace to see its least active tornado season in nearly 50 years, thanks to the drought. There have been only 16 recorded tornadoes this year, the fewest since 1963, according to State Climatologist Harry...
Nearly 600,000 in Virginia Sign Up for Earthquake Drill
Oct 16 2012 // Nearly 600,000 Virginia residents are expected to participate in a multistate earthquake drill this week. Gov. Bob McDonnell says many people didn’t know about earthquake safety when a magnitude-5.8 quake hit Louisa...
ACE USA’s Excess Casualty Unit Expands Catastrophe Management Coverage
Oct 15 2012 // ACE USA, the U.S.-based retail operations of the ACE Group, has expanded its catastrophe management insurance products with the introduction of the ACE Cat Management 2.5 endorsement by its ACE Excess Casualty Unit. This...
Louisiana Citizens: More Than 17K Claims from Hurricane Isaac, 85% Settled
Oct 15 2012 // Louisiana Citizens Property Insurance Corp. reported it has received 17,059 claims from Hurricane Isaac. Ninety-seven percent of those claims have been inspected by company adjusters and 85 percent have been settled. Loss...
Colorado Giving $1.3 Million For Wildfire Recovery
Oct 14 2012 // Colorado Gov. John Hickenlooper is providing $1.3 million for recovery in the Lower North Fork Fire burn area. Hickenlooper says the funding announced Friday can be used to pay for such things as removing burned trees in...
Tropical Storm Rafael Batters Caribbean; Heads To Bermuda: AIR
Oct 14 2012 // As of Sunday afternoon, Tropical Storm Rafael was moving away from the Leeward Islands after battering the islands with strong winds and heavy rain. Rafael, the 17th named storm of the Atlantic hurricane season, has...
Ore. County to Ditch Tsunami Sirens; Resident Objects on Facebook
Oct 12 2012 // When the big one hits the Oregon coast, people won’t need sirens, say experts – they’ll know by the intense trembling beneath their feet that a tsunami is on the way and it’s time to hustle to high...
Tropical Storm Patty in Bahamas Is Hurricane Season’s 16th Named Storm
Oct 12 2012 // Late on Thursday, October 11, the sixteenth named storm of the 2012 Atlantic hurricane season was declared – Tropical Storm Patty. As of Friday, according to the National Hurricane Center (NHC), the center of Patty was...
Florida Hurricane Fund in Better Shape But Could Still Be Short on Cash
Oct 11 2012 // Florida’s state-run reinsurance facility still faces a potential $1.5 billion gap to fulfill its maximum mandatory obligation, although it appears poised to be in better financial condition for the 2013 hurricane...
Utah Lawmaker Mulls Climate Concerns in Wildfire Bill
Oct 9 2012 // At the request of a youth group, a Republican Utah lawmaker plans to address concerns about climate change in a bill dealing with wildfires. State Rep. Kraig Powell of Heber City has requested the drafting of legislation...
Best Affirms Sirius International Group’s Ratings; Outlook Stable
Oct 8 2012 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) and the issuer credit rating (ICR) of “a” of Sweden’s Sirius International...
Cooper Gay Launches Terrorism & Political Risk Crisis Management Service
Oct 8 2012 // London-based Cooper Gay & Co. announced that the independent insurance and reinsurance intermediary is “offering a free crisis management and business continuity consultation to its Terrorism & Political...
Study: Homeowners Insurance Claims Cost Rising Rapidly
Oct 8 2012 // The cost of homeowners insurance claims has been rising rapidly because of the combined effects of rising claim severity and increases in claim frequency, according to an insurance industry report. A new Insurance Research...
Homeowners Claim Costs On the Rise
Oct 8 2012 // The cost of homeowners insurance claims has been rising rapidly because of the combined effects of rising claim severity and increases in claim frequency, according to an insurance industry report. A new Insurance Research...
Homeowners Insurance Claims Cost Rising Rapidly: Study
Oct 8 2012 // The cost of homeowners insurance claims has been rising rapidly because of the combined effects of rising claim severity and increases in claim frequency, according to an insurance industry report. A new Insurance Research...
Studies: More Than 2 M California Homes Exposed To Wildfires; Hundreds of Thousands in West at ‘Very High Risk’
Oct 8 2012 // More than 2 million homes in California face “extreme wildfire hazards,” over 400,000 of which are in Los Angeles County, according to a study from an insurance industry group. A separate study shows at least...
Rating Hurricane Risk in Florida: How Using Geocoding Can Lead to More Accurate Pricing
Oct 8 2012 // Small companies often believe that they do not have enough homeowners data to build custom rating territories based on different perils, and therefore simply adopt the territories of a competitor. But because catastrophe...
Homeowners Insurance Claims Cost Rising Rapidly: Study
Oct 8 2012 // The cost of homeowners insurance claims has been rising rapidly because of the combined effects of rising claim severity and increases in claim frequency, according to an insurance industry report. An Insurance Research...
