Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
AIR Analyzes Increased Japan Risk after Tohoku-Oki Earthquake
Feb 17 2012 // Catastrophe modeling firm AIR Worldwide has released a new report – “Understanding Earthquake Risk in Japan Following the Tohoku-Oki Earthquake of March 11, 2011.” The report stresses that the “M9.0...
P/C Industry Disputes Consumer Group’s Claims It’s Avoiding Risk
Feb 17 2012 // Traditionally risk-takers, property/casualty insurance companies have become more like risk-avoiders when it comes to weather-related claims, leaving consumers and taxpayers to pay much higher costs, according to a new...
4 Executives Found Not Guilty in Florida Hurricane Fund Fraud Case
Feb 17 2012 // Four insurance executives of a now defunct Florida property insurer have been found not guilty of defrauding the state’s reinsurance facility of over $20 million in a case stemming from hurricane losses dating back...
California Earthquake Authority to Pay Back Wages
Feb 16 2012 // The California Earthquake Authority, the state’s quasi-private earthquake insurer, is planning to pay furlough back wages to current and former agency employees who lost salary to the policy, the Sacramento Bee is...
Japan Nuclear Plant Planned Review of Tsunami Risk- But Too Late
Feb 16 2012 // Four days before a tsunami devastated a Japanese nuclear plant, its operator promised a fuller assessment of the risk of such a disaster — but not for seven months. The disclosure in a three-page briefing paper obtained...
Europe’s Big Insurers Hit by Debt Crisis, Catastrophes, Economy
Feb 16 2012 // European insurers Axa and Zurich Financial suffered on all sides last year as Europe’s debt crisis ate into their sovereign bond holdings, catastrophe claims emptied coffers and the downturn cut demand for life...
PERILS Estimates Windstorm Andrea Property Losses at $350 Million
Feb 15 2012 // According to PERILS, the Zurich-based catastrophe data provider, initial loss estimates for property losses caused by windstorm Andrea, which struck Western Europe at the beginning of January, are €267 million [$350...
In Joplin, Missouri, Young Professionals Hear Call to Serve
Feb 15 2012 // One worked in financial services. Another was an insurance agent. A third had recently finished law school and embarked on a legal career. Then came the tornado. The twister that blasted an immense hole in this Missouri...
Pitney Bowes Develops Wildfire Risk Software
Feb 15 2012 // Pitney Bowes Software has released the Pitney Bowes Risk Data Suite Software Bundle for property and casualty insurers. The company says this is the first national wildfire software product for the insurance sector. It...
Small Earthquake Shakes Rural Area North Of San Francisco
Feb 14 2012 // A small earthquake has shaken a rural area of Northern California about 90 miles north of San Francisco, but there are no reports of any damages or injuries. The U.S. Geological Survey says the magnitude-4.4 quake struck...
Earthquake Shakes Switzerland; No Damage Reported
Feb 13 2012 // The Swiss Seismological Service said a moderate earthquake shook Switzerland with the epicenter in the northcentral canton Zug and Lake Zurich area. The Zurich-based service said Sunday that the magnitude-4.2 quake could...
Georgia’s Warm, Dry Weather Could Bring Busy Wildfire Season
Feb 9 2012 // With forecasters predicting an early spring in southeast Georgia, forestry officials are gearing up for what could be an early start to a fire season they fear could be a repeat of 2011. Three large fires torched nearly...
Report: Active 4Q Pushes 2011 Cat Bond Issuance Over $4 Billion
Feb 8 2012 // It was a traditionally active fourth quarter for cat bond issuance stayed in 2011, according to the Insurance-Linked Securities Market Update from Willis Capital Markets & Advisory. The quarter saw nine new non-life...
US House Oks Bill For Tribe’s Move Out Of Tsunami Zone
Feb 8 2012 // The U.S. House approved a bill Monday that will allow the Quileute tribe to move its school and other buildings out of a tsunami zone on the Washington coast to higher ground in Olympic National Park. The land transfer...
Despite Uptick in Frequency, January Sees No Major Natural Disaster
Feb 7 2012 // January was a good month in terms of global catastrophes. Yet while there was no single major loss event throughout the month, a series of relatively small aggregated losses impacted insurers and economies worldwide, a new...
Rescuers Dig to Reach People Trapped by Philippines 6.9 Earthquake
Feb 7 2012 // Rescuers dug with picks and shovels trying to reach dozens of people trapped under houses collapsed by a strong earthquake Monday that shook a central Philippine island and set off landslides. At least 13 people were...
8 States to Hold Earthquake Drills Today
Feb 7 2012 // Eight states are expected to take part in an earthquake drill today that will be conducted throughout the central United States on the 200th anniversary of the 1812 New Madrid earthquakes. The event is called the 2012...
Minor Earthquake Shakes North-Central Utah
Feb 6 2012 // Scientists say a minor earthquake has shaken the Utah Valley, but apparently causing no injuries or property damage. The University of Utah Seismograph Stations report the magnitude 3.7 quake occurred around 4:27 a.m....
Global Mining Insurance Market Capacity Down 30% After Losses: Willis
Feb 6 2012 // In 2011, the mining insurance market was not only hit by $2.7 billion in natural catastrophe losses, but over 60 operational losses totaling $835 million. The $3.5 billion total estimate of losses facing mining insurers...
Utah Offers New Earthquake Hazard Maps for Salt Lake County
Feb 3 2012 // Utah is selling new maps that show the shaking intensity of earthquakes for the west half of Salt Lake County. The set of 10 maps also spotlights the risks of landslides, rock falls, floods, radon gas and other hazards in...
