Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Willis Re Reports Jan. 1 Renewals Focus on Nat Cat Data
Dec 30 2011 // An analysis from Willis Re, the reinsurance broking arm of Willis Group Holdings, notes that the majority of this year’s catastrophe losses arose “from un-modeled or inadequately modeled perils or...
Guy Carpenter Analyzes 2011 Catastrophes; $108 Billion in Losses
Dec 30 2011 // Reinsurance broker Guy Carpenter has examined the past year’s natural catastrophes, which it describes as “an unusually eventful year for the (re)insurance sector.” In addition to the ongoing financial...
Despite Losses, Insurers Not Hiking Prices Broadly
Dec 29 2011 // Despite more than $100 billion in disaster losses around the world this year, insurers are not yet experiencing a broad and sustained increase in pricing power, defying predictions from a year ago that even half those...
Melbourne Storms Declared ‘Catastrophe;’ Full Year Insured Losses = $4.5 Billion
Dec 29 2011 // A series of violent storms struck Australia’s second largest city, Melbourne on Christmas Day, causing wide spread damage to buildings and infrastructure. Insurer QBE said the country’s insurers have already...
Scandinavia Hit Hard by Windstorm Dagmar AIR Reports
Dec 28 2011 // A report from catastrophe modeling firm AIR Worldwide notes that Windstorm Dagmar has moved across Russia north of St. Petersburg and begun to dissipate. Its hurricane-force winds caused power outages, downed trees,...
Insurers Worry 2012 Will Top 2011 for Record Weather Disasters
Dec 28 2011 // From floods that crippled countries, to mega cyclones, huge blizzards, killer tornadoes to famine-inducing droughts, 2011 has been another record-breaker for bad weather. While it is too early to predict what 2012 will be...
Catastrophes Erode P/C Insurers’ Results for 9 Months of 2011
Dec 27 2011 // Private U.S. property/casualty insurers’ net losses on underwriting grew to $34.9 billion in nine-months 2011 from $6.3 billion in nine-months 2010. The combined ratio deteriorated to 109.9 percent for nine-months...
New Orleans Hurricane Wall Creates Prime Fishing Spot
Dec 27 2011 // Anglers in the wetlands surrounding New Orleans never have to look very far to be reminded they are living the ultimate paradox: They are enjoying the nation’s most prolific coastal fishing in the midst of a terminal...
Uncommon December Tornado Hits Louisiana Hospital
Dec 22 2011 // An uncommon December tornado ripped off part of a hospital roof in a southwest Louisiana city, causing several patients to be evacuated, but no injuries. The National Weather Service said the weak tornado touched down at...
Report: Recent Advances in Casualty Catastrophe Models Help Insurers
Dec 21 2011 // A new report says recent advances in casualty catastrophe modeling can help insurers to understand potential exposures to mass torts. The report, released this month, is titled “The Need for Casualty Catastrophe...
For Florida Gov. Scott, Insurance Fixes Are Legislative Priority
Dec 21 2011 // Gov. Rick Scott wants lawmakers to fix a pair of auto and property insurance issues that are costing Floridians hundreds of millions of dollars but have eluded resolution for more than a decade. The issue facing the...
Alabama Tornado Survivors Sought for Interviews
Dec 21 2011 // Public health agencies are looking to interview survivors of the killer tornadoes that hit north and central Alabama on April 27. State Health Officer Don Williamson said the goal is to explore ways to lessen the loss of...
Louisiana Citizens Owes More than $100M to Policyholders, High Court Says
Dec 20 2011 // Louisiana’s highest court has reinstated a nearly $100 million judgment against the state’s property insurer of last resort in a class action lawsuit stemming from Hurricane Katrina in 2005. The Louisiana...
Hurricane Forecaster Delays 2012 Prediction Until Spring
Dec 20 2011 // Hurricane forecaster William Gray will wait until spring to predict how many storms will form in the Atlantic. Gray and his research partner at Colorado State University, Philip Klotzbach, usually start making predictions...
Best Affirms Lloyd’s Syndicate 2001 Ratings; Amlin AG, Amlin plc; Outlook Stable
Dec 20 2011 // A.M. Best Europe – Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit rating (ICR) of “aa-” of Lloyd’s Syndicate 2001, which is...
AIR Analyzes Tropical Storm Washi’s Impact on Philippine’s Mindanao
Dec 20 2011 // According to catastrophe modeling firm AIR Worldwide, Tropical Storm Washi pummeled the northern part of the Philippine island of Mindanao late Thursday night. Heavy rainfall from Washi (locally called Sendong) lasted for...
Oklahoma Insurance Commissioner Doak Has Had a Full Plate in 2011
Dec 19 2011 // In his first year as insurance commissioner of Oklahoma, John Doak has been a busy man. Doak and the agency he leads have had their hands full implementing reforms in the workers’ compensation system, dealing with a...
Cat Assessment Firm PERILS Expands Coverage to Include UK Flood Risks
Dec 19 2011 // PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data, announced that it has extended its market coverage to include the peril of inland flooding in the UK. The bulletin...
Alabama Awaits Detail of Data Call from Windstorms
Dec 16 2011 // Regulators and consumer groups in Alabama are awaiting the results of a data call from insurers to see if they are quickly handling claims and resolving other residents’ claimants. Commissioner Jim Ridling issued the...
FEMA Expands Wildfires Declaration to 119 Texas Counties
Dec 16 2011 // The Federal Emergency Management Agency has expanded its wildfires disaster declaration area for Texas to include 119 counties. Gov. Rick Perry announced that FEMA has granted the state’s request to increase the...
