Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
ACE Expands Catastrophe Management Services for Environmental Risks
Jul 13 2012 // ACE USA, the U.S.-based retail operations of the ACE Group, has expanded its environmental risk insurance products to add catastrophe management coverage. In addition to coverage for standard remediation services included...
Tropical Storm Creates New Beach on Alabama Coast
Jul 11 2012 // Within the span of a week, the Gulf built a beach in front of most of the rock wall used to close Katrina Cut. The wall was constructed in 2010 using money provided by BP during the oil spill. The goal was to close a...
Chubb Expects Up to $240 Million in Q2 Catastrophe Losses
Jul 11 2012 // The Chubb Corp. expects to report $200 million to $240 million in catastrophe losses for the second quarter, before taxes, due to severe hail and wind storms in the U.S., the insurer said on Tuesday. The charges amount to...
Colo. Fire Victims May Qualify for Immediate Flood Policies
Jul 10 2012 // The Federal Emergency Management Agency on Tuesday announced that residents in Colorado affected by flooding as a result of the wildfire in Waldo Canyon and the wildfire in High Park could be eligible for an exception from...
Guy Carp’s July 1 Renewals Report: ‘Plentiful Capacity;” Low Insured Losses
Jul 10 2012 // According to a report from Guy Carpenter the July first reinsurance renewals “took place against a backdrop of plentiful capacity,” as capital “has continued to strengthen through the second quarter of...
June’s Severe Weather Losses Near $2 Billion in U.S.: Aon Benfield
Jul 10 2012 // U.S. severe weather insurance losses were close to $2 billion in June, according to Aon Benfield’s Global Catastrophe Report. Published by Aon’s Impact Forecasting, the report analyzes the natural disaster...
PCS Sees Busy Cat Bond Market in 2012 Thus Far
Jul 9 2012 // With two quarters completed in 2012, the catastrophe bond market remains robust. Insurers and reinsurers issued approximately $3.6 billion in catastrophe bonds during the first half of 2012, up from $2.2 billion in the...
Guy Carpenter Report Focuses on Asia-Pacific 2011 ‘Climate Issues’
Jul 9 2012 // The Guy Carpenter Asia-Pacific Climate Impact Centre (GCACIC), a joint initiative of Guy Carpenter and City University of Hong Kong, has released its third annual report, which presents the findings of the 27 research...
Taking Account of Colorado’s Wildfires
Jul 6 2012 // As adjusters and homeowners have increasing access to fire damaged areas at the Waldo Canyon Fire in Colorado just how large a figure will result from what are likely to go down as the state’s two most destructive...
Gregoire Releases $500,000 For Tsunami Debris
Jul 6 2012 // Gov. Chris Gregoire is releasing $500,000 from her emergency fund to address costs associated with potential debris washing up on the state’s beaches from the Japanese tsunami. Gregoire said Tuesday that the money...
Paper: $110M Worth Of Homes Lost In Colorado Wildfire
Jul 5 2012 // A newspaper’s analysis indicates that Colorado’s most destructive wildfire burned homes worth a total of more than $110 million in one of the neighborhoods affected by the blaze. The Denver Post reports the...
PERILS Updates Windstorm Andrea Loss Estimate to $422 Million
Jul 5 2012 // Swiss-based consulting firm PERILS has issued its third loss report for windstorm Andrea, which affected the UK and Western Europe in January 2012. The updated property market loss estimate for Andrea is €337 million...
CEA Unveils Homeowners Choice Earthquake Coverage Product Line
Jul 3 2012 // As of July 1, 2012, the California Earthquake Authority (CEA) is offering its new Homeowners Choice product line. The new product will give residents greater control over their earthquake insurance premium and the ability...
Colorado’s Historic Wildfire Season Could Cost ‘Hundreds of Millions’
Jul 2 2012 // Insured losses from two wildfires in what’s shaping up to be a historic wildfire season for Colorado may be into the “hundreds of millions of dollars,” an insurance industry association executive said on...
P/C Industry Should Not Expect Traditional Hard Market Soon: Hartwig
Jul 2 2012 // Although insurance rates have been drifting upward in recent months, the property/casualty industry is unlikely to see a return to the traditional hard market this year or next, an insurance expert told reinsurance...
Dallas Hailstorm Loss Estimated at Nearly $1B
Jul 2 2012 // Insured losses from violent hailstorm in Dallas in mid-June should be just under $1 billion, a trade group for Texas insurers said. That amount is sharply less than what another industry trade group previously...
Businesses Balk at South Carolina Hurricane Plan
Jul 2 2012 // Hotel owners and tourism promoters along South Carolina’s Grand Strand are concerned about new hurricane evacuation plan that includes areas not previously part of such plans. Under the plan, if the governor orders...
Habitat Plans Building Blitz in Indiana Tornado Zone
Jun 29 2012 // Habitat for Humanity organizers are planning a construction blitz to build 19 new houses for southern Indiana families who lost their homes in the tornadoes that struck in March. The group hopes to recruit about 3,000...
Second Colorado Wildfire Makes for ‘Unprecedented’ Season
Jun 27 2012 // Following a fire that forced the evacuation of more than 32,000 people, Colorado continues to be plagued with an “unprecedented” wildfire season that’s shaping up to yield high-dollar values in terms of...
Colorado’s Early June Storms Among State’s Most Costly
Jun 27 2012 // New insurance claim estimates from the hail, wind and flooding that wreaked havoc on June 6 from South Denver down to Colorado Springs and again on June 7 in Northern Colorado and the Eastern Plains made it the...
