Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
$97M Worth of Timber Destroyed in Texas Wildfires
Sep 23 2011 // East Texas is deeply rooted in the timber industry — and during the last 10 months, wildfires have wiped out more than $97 million worth of the region’s trees, the Texas Forest Service reports. Since wildfire...
AIR Estimates Typhoon Roke Insured Losses at $150 to $600 Million
Sep 23 2011 // Catastrophe modeling firm AIR Worldwide has given preliminary estimates of the insured losses from Typhoon Roke at between JPY 12 billion ($150 million) and JPY 46 billion ($600 million). As reported earlier, Typhoon Roke,...
Marsh Advises Risk Managers As C-Suite Expectations Rise
Sep 22 2011 // Global insurance broker Marsh held a webcast on Sept. 21, where the firm’s analysts shared their views on the current business environment including the effects of Hurricane Irene and other catastrophes. The broker...
Florida Approves Use of Revised RMS Hurricane Model
Sep 22 2011 // A Florida state panel has approved the use of a new hurricane catastrophe model that is increasing many insurers’ exposure. The Florida Commission on Hurricane Loss Projection Methodology has approved the Risk...
Hurricane Center Tracking TS Ophelia; Poses No Immediate Threat
Sep 22 2011 // The National Hurricane Center in Miami is currently tracking the season’s latest named storm, Ophelia, the 15th of the current season. As of 5:00 a.m. AST it was about 1020 miles, 1640 kms, east-southeast of the...
AIR Report: Typhoon Roke Now Offshore; Passed Tokyo with Heavy Rain
Sep 22 2011 // According to catastrophe modeling firm AIR Worldwide, after crossing over more than 350 kilometers [219 miles] of the main Japanese island of Honshu, Typhoon Roke, the 15th named storm of the 2011 Northwest Pacific typhoon...
Aon Benfield Conference Underlines ‘Complexity’ of Catastrophic Events
Sep 22 2011 // Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp., will urge insureds and insurers to “look at the bigger picture as cat events become more complex,” at its 12th Hazards...
Typhoon Roke Threatens Japan: AIR Report
Sep 21 2011 // According to catastrophe modeling firm AIR Worldwide more than a million people were evacuated in central and western Japan in advance of Typhoon Roke’s arrival. The storm formed on September 10 and is the 15th named...
Lloyd’s Reports Billion Dollar First Half Loss Due to Catastrophes
Sep 21 2011 // As had been more or less predicted, Lloyd’s posted a £697 million [$1.094 billion] pre-tax loss for the first six months of 2011, compared to an overall profit of £628 million [$985.6 million] as of June 30, 2010....
Bastrop, Texas, Wildfire Nearly Contained, Thousands Left Homeless
Sep 20 2011 // A wildfire that began more than two weeks ago in Bastrop County is 95 percent contained, according to the Texas Forest Service. The area is about 25 miles east of Austin. The TFS reports that the cause of the fire was most...
EQECAT President on the Continuing Evolution of Catastrophe Models
Sep 20 2011 // “Models are never done – they’re evolutionary,” said EQECAT’s president Bill Keogh in an interview at the Reinsurance Rendezvous in Monte Carlo. EQECAT’s latest updates were released on July...
Hurricane Maria Makes Landfall on Newfoundland; Now Post-Tropical
Sep 19 2011 // A report from catastrophe modeling firm AIR Worldwide notes that “Extratropical Storm Maria made landfall as a minimal Category 1 hurricane on Newfoundland’s Avalon Peninsula near Cape Pine on Friday afternoon...
State Auto Introduces Claims Team at Austin Facility
Sep 19 2011 // State Auto Insurance’s previously announced Austin, Texas, claims facility is now operational, the company reported. The following individuals serve on the claims team at the Austin facility: Sandra Robinson, claims...
9/11 and Terrorism Risk 10 Years Later
Sep 19 2011 // The Sept. 11, 2001, terrorist attacks forever changed how the insurance industry views terrorism risk, says Robert Hartwig, president of the Insurance Information Institute. For the global insurance and reinsurance...
Americans Have False Sense of Security About Catastrophes, Survey Finds
Sep 19 2011 // Even after 9/11 and Hurricane Katrina, most Americans have a false sense of security when it comes to their readiness for a natural disaster or major terrorist attack, according to researchers at Columbia University. A new...
Irene Raises Hurricane Deductible Questions in Northeast States
Sep 19 2011 // New York and New Jersey regulators said recently that hurricane deductibles should not apply on homeowners’ insurance policies for Irene damages in their states. That’s because Irene was downgraded and...
U.S. Taking a Beating from Disasters
Sep 19 2011 // Nature is pummeling the United States this year with extremes. Unprecedented triple-digit heat and devastating drought. Deadly tornadoes leveling towns. Massive rivers overflowing. A billion-dollar blizzard. And now,...
Wildfires in Texas’ Bastrop County Destroy More than 1,500 Homes
Sep 19 2011 // The number of homes destroyed by wildfires in a single Texas county had risen to 1,554 as of Sept. 11, 2011. The massive Bastrop County Complex fire was one of a rash of wildfires that broke out across drought-stricken...
Alabama Names Tornado Recovery Panel
Sep 19 2011 // Alabama Gov. Robert Bentley has chosen the president and CEO of Protective Life Corp., Johnny Johns, and the publisher of The Birmingham News, Pam Siddall, to lead his Tornado Recovery Action Council. Retired aerospace...
North Carolina Senate Panel Learns Hurricane Irene’s Costs
Sep 16 2011 // The state agency overseeing North Carolina’s response to Hurricane Irene estimates the price tag on helping individuals and governments recover from Hurricane Irene so far at about $125 million. The Division of...
