Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Alaska Volcano Lava Dome Forms, Alert Level Raised
Feb 2 2012 // The warning level for a remote Alaska volcano has been raised after a new lava dome began forming, indicating the mountain could explode and send up an ash cloud that could threaten aircraft. The Alaska Volcano Observatory...
Markel Reports $52.3M Q4 Income, Down 63% From One Year Ago
Feb 2 2012 // Markel Corporation reported $52.3 million for its 2011 fourth-quarter net income, down 62.8 percent from one year ago when the specialty insurer posted $140.4 million. For the 2011 full-year, Markel posted net income of...
Talk of ‘Tornado Tourism’ Stirs Anger in Joplin, Missouri
Feb 2 2012 // Eight months after a tornado laid waste to much of this city, Joplin, Mo., is wrestling with an emotional question: Should the community market its devastated neighborhoods to tourists? When the convention and visitors...
Haiti, Dominican Republic May Be Entering Big Earthquake Period
Feb 2 2012 // Haiti and the neighboring Dominican Republic could be in for a period of periodic powerful earthquakes, according to a recent scientific study. The study says Haiti’s 7.0-magnitude earthquake two years ago is likely...
Nuclear Accidents Pose Little Risk to U.S. Health, Say Regulators
Feb 2 2012 // The risk to public health from a severe nuclear power plant accident in the United States is “very small” because reactor operators should have time to prevent core damage and reduce the release of radioactive...
New Tool Helps P/C Insurers Manage Volatility of Catastrophe Models
Feb 1 2012 // A new risk management tool promises to help insurance companies understand wide swings in loss estimates from traditional catastrophe models and better plan for large loss events. Karen Clark & Co. (KCC), founded by a...
Measures Taken To Earthquake-Proof Alaskan Hospital
Jan 31 2012 // For decades, the people who oversaw Fairbanks Memorial Hospital shared a comforting thought about the building—even if a powerful earthquake struck, they were confident it would remain standing. But in the past few...
Maryland High Court Sides With Allstate in Coastal Homeowners Case
Jan 31 2012 // The Maryland Court of Appeals, the state’s highest court, ruled in favor of Allstate last week. It upheld a previous lower court’s ruling that the insurer was within its rights to stop writing new homeowners...
Best Revises Chartis, Lexington & Members Outlooks to Stable; Affirms Ratings
Jan 27 2012 // In connection with its revision of its outlook on AIG, A.M. Best Co. has affirmed the financial strength ratings of ‘A’ (Excellent) and issuer credit ratings (ICR) of “a” of Chartis US Insurance...
Weather Service Documents 10 Tornadoes in Alabama
Jan 27 2012 // The National Weather Service has now documented paths of destruction from at least 10 tornadoes in the outbreak of storms across central Alabama early Monday. Recently completed surveys show that tornadoes struck in Perry...
Severe Storms Drench Texas, at Least 3 Tornadoes Reported
Jan 26 2012 // Buckets of rain and powerful winds that likely spawned several tornadoes swept across Texas on Jan. 25, forcing drivers to abandon cars on flooded roads but not dropping enough water to make up for a historic dry...
S&P: Excess Capital, Strong ERM Give Reinsurers 2011 Cat Loss Cushion
Jan 26 2012 // Standard & Poor’s Ratings Services announced that it is “maintaining its stable outlook on the global reinsurance sector despite the near-record level of catastrophe losses in 2011,” as it...
Companies Partner on Smaller Earthquake Insurance Risks
Jan 26 2012 // Insurance Company of the West (ICW) and WKFC Underwriting Managers have announced a continued expansion of the relationship between the firms for commercial earthquake insurance. The partnership between ICW Group and WKFC...
Everest Re Estimates Q4 Total Catastrophe Losses at $245 Million
Jan 25 2012 // The Bermuda-based Everest Re Group announced that it expects to incur net catastrophe losses of approximately $245 million, after reinstatement premiums and taxes, for the quarter. “This loss provision includes an...
Study: Major Earthquake Could Hit Tokyo Within Years
Jan 25 2012 // A new study is warning that the Tokyo region has a 70 percent chance of being hit directly by a powerful magnitude-7 earthquake within four years. The study by University of Tokyo seismologists bases the estimate on an...
January P/C Reinsurance Renewals Flat or Up Slightly: Towers Watson
Jan 25 2012 // January 1 renewal rates for U.S. property/casualty reinsurance premiums showed firming with changes from -5 percent to +5 percent on an overall basis, with loss-affected property catastrophe business up considerably...
Hailstorms, Heat and Wildfires Made 2011 a Rough Year in Texas
Jan 24 2012 // With weather forecasters issuing severe weather alerts for Texas as a slow moving cold front rolls across the state, many Texans may be reminded of the natural forces in 2011 that destroyed lives and property in all...
Alabama Rescuers Search Homes for Tornado Survivors
Jan 24 2012 // Searchers in the Birmingham area were going from house-to-house early Monday in an effort to rescue people trapped in their homes after storms moved across the Midwest and South, prompting tornado warnings in a handful of...
Alabama Tornado Recovery Report Delayed
Jan 24 2012 // The severe weather prompted Alabama Governor Robert Bentley to cancel a meeting this week where he was supposed to receive a study from a group of community and corporate leaders that studied Alabama’s response to...
Reno Wildfire That Destroyed 29 Homes Contained
Jan 23 2012 // The wildfire that destroyed 29 homes near Reno is contained. Thousands of evacuees are back home. And the family of the woman found dead says there’s no point in prosecuting the remorseful man who accidentally...
