Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Alabama Scientists to Study Tornado Outbreak, Warnings
Jul 14 2011 // Scientists at The University of Alabama in Huntsville are organizing a research program to better understand the deadly outbreak of tornadoes that killed more than 240 people in Alabama and other Southeastern states on...
Hartford Hit with Q2 Catastrophe, Asbestos Losses
Jul 14 2011 // Hartford Financial Services Group Wednesday warned it will badly miss second-quarter expectations after severe losses on natural disasters and a charge to increase its asbestos reserves. Hartford, one of three insurers to...
Allstate Q2 Catastrophe Losses Now at $2.3 Billion
Jul 13 2011 // The Allstate Corp. announced $0.3 billion, pre-tax, in estimated catastrophe losses for the month of June 2011. June catastrophe losses comprised 13 events. Allstate previously announced $2.0 billion in estimated pre-tax...
State Auto Financial Updates Estimate of Q2 Storm Impact
Jul 13 2011 // In an updated estimate of the impact of second quarter 2011 catastrophe storm activity, State Auto Financial Corp. said second quarter 2011 results will include between $155 million and $165 million in pre-tax catastrophe...
Q1 Losses, Solvency II Drive Research on “Non-modeled” Perils Says Aon Benfield
Jul 12 2011 // Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp., has reported that “catastrophic losses in the first quarter and Solvency II are driving the need for insurers to boost their...
S&P Downgrades 6 Cat Bonds; Removes 10 from Negative CreditWatch
Jul 12 2011 // Standard & Poor’s Ratings Services today has removed its ratings on 10 natural peril catastrophe bonds from CreditWatch with negative implications. S&P also said it has lowered its “ratings on six of...
Catastrophe Costs Will Set Record: Munich Re
Jul 12 2011 // The total costs associated with natural catastrophes will reach a record this year after an earthquake in Japan pushed first-half losses to $265 billion, according to Munich Re. The world’s biggest reinsurer by...
U.S. Hurricane Season Could Be Market Tipping Point: Marsh
Jul 11 2011 // Reacting to the recent spate of major natural catastrophes, insurers are being more selective in the capital they deploy and have in some cases withdrawn from catastrophe affected regions and loss-making sectors of...
Small Earthquake Felt in Eastern Maine
Jul 11 2011 // A small earthquake across Maine’s Blue Hill peninsula prompted a handful of calls to law enforcement officials, but no damages were reported. According to the Weston Observatory at Boston College, the magnitude 2.3...
Aon Benfield Cat Recap Highlights China Floods; Quakes, Wildfires
Jul 7 2011 // Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp., has released the latest edition of its Monthly Cat Recap report, which reviews the natural disaster perils that occurred worldwide during...
With Wildfires Contained, Arizona Shifts to Thwarting Summer Floods
Jul 7 2011 // The biggest forest fire in Arizona history is all but contained, and authorities are shifting their focus to preventing massive flood damage as summer storms begin to hit. The specialized firefighting management teams that...
Reinsurance Prices Flat Except in Catastrophe Regions: Aon
Jul 7 2011 // First quarter catastrophes didn’t halt decreases in most U.S. reinsurance renewal programs, except in regions hard hit by significant catastrophe events, according to a report by a leading reinsurance intermediary....
North Carolina Wildfire Spreads; Homeowners Evacuate
Jul 6 2011 // Ten homes have been evacuated and three destroyed by a wildfire in Bladen County that has nearly doubled in size over the past three days, fire officials said Tuesday. State Forest Service spokesman Chris Meggs said a...
Pres. Obama Signs Disaster Declaration for Texas Wildfires
Jul 5 2011 // President Barack Obama has signed a major disaster declaration for parts of Texas ravaged by wildfires in April and early May, ordering federal aid to help state and local recovery efforts. The White House had previously...
Insurers Could Pay $2B for Joplin Tornado
Jul 5 2011 // Insurance companies already have paid out more than $500 million in claims for the May 22 tornado that struck Joplin, Mo. But the final total could grow to three or four times that amount. The state insurance department...
Catastrophes Issue Wake-Up Call on Supply Chain Risks
Jul 4 2011 // The Japanese earthquake and tsunami that occurred in March served as a wake-up call for businesses vulnerable to supply chain exposures. Subsequent intense weather events in the U.S. during April and May have underscored...
Alabama Governor Vows Tornado, Home Insurance Help
Jul 4 2011 // Alabama Gov. Robert Bentley said he’s not looking to the Federal Emergency Management Agency or anyone else to lead the state’s recovery. “Just like I have taken the leadership role in the disaster,...
P/C Insurers’ Profits Fell in Q1 as Underwriting Losses Grew
Jul 4 2011 // Private U.S. property/casualty insurers’ net income after taxes dropped to $7.8 billion in first-quarter 2011 from $8.9 billion in first-quarter 2010, with insurers’ annualized rate of return on average...
Californians’ Biggest Disaster Fear: Earthquakes
Jul 4 2011 // Of the many possible natural disasters that could befall Californians, Golden State residents fear earthquakes the most, according to a recent poll. Statewide, 57 percent of voters cite earthquakes as their greatest threat...
Florida Officials Fret Over Home Insurance Assessments
Jul 4 2011 // Two weeks into a new hurricane season, Florida officials are continuing to express their concerns over possible policyholder assessments by Citizens Property Insurance despite the relative financial strength of the...
