Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Storm Losses Largest in North Carolina and Virginia
Apr 19 2011 // The massive, weekend storm system that killed dozens of people, and destroyed buildings, livestock and other property as it swept east across the country, produced the most significant insured losses in North Carolina and...
CORRECTION: S&P RMS Cat Bond CreditWatch
Apr 19 2011 // Standard & Poor’s has issued a corrective statement concerning one of the cat bond ratings listed in the bulletin it issued on April 18. The Series 2011-1 Class A notes, rated BB+ (sf)/Watch Neg BB+ (sf) issued...
Summary of Re/Insurers’ Loss Estimates from Japan’s Earthquake, Tsunami
Apr 19 2011 // Some of the world’s leading insurers and reinsurers have issued initial estimates of how much the earthquake that hit Japan on March 11 will cost them and more are expected do so over the next few weeks. Risk...
Wisconsin Officials Up April 10 Tornado Count to 12
Apr 18 2011 // The storm system that hit northern and central Wisconsin on April 10 produced a record number of tornados for one day in April. The National Weather Service reported there were 12 tornadoes, surpassing the record of 10 for...
S&P Puts 17 Cat Bonds on CreditWatch/Negative Due to RMS Model Change
Apr 18 2011 // Standard & Poor’s Ratings Services has placed its ratings on 17 natural peril catastrophe bonds (listed below) on CreditWatch with negative implications. S&P explained that it took the action following...
Indiana Tornado Siren Spooks Horses, Spurs Lawsuit
Apr 18 2011 // A tornado siren placed near an Indiana horse farm has prompted a lawsuit by the owners, who say the device spooks their animals every time it sounds and that local officials have refused to relocate it as promised. Jody...
US Nuclear Regulator Monitoring Plant after Tornado
Apr 18 2011 // The U.S. nuclear safety regulator said Monday it was monitoring a Virginia nuclear power plant in southeastern Virginia operated by Dominion Resources after a tornado cut its electrical power. The Nuclear Regulatory...
ABIR Reports 2010 Results for Bermuda’s Re/Insurers; $11.4 Bn Net Income
Apr 18 2011 // The Association of Bermuda Insurers and Reinsurers (ABIR) has released the 2010 global underwriting results for its 22 member (re)insurers – companies that write insurance and reinsurance from underwriting centers in...
Tallying Tsunami Losses
Apr 18 2011 // Damage estimates from the March tsunami resulting from the Japanese 9.0 magnitude earthquake have increased. California Emergency Management Agency spokesman Brad Alexander said the most recent damage estimate was $48...
Japan’s Tragedy a Reminder of Need for Business Interruption Insurance
Apr 18 2011 // The human, social and economic devastation in Japan from the massive earthquake and tsunami is overwhelming and business losses are just beginning to be tallied. Companies in the United States that purchase products or...
Reinsurance Rates Up, But Few Agree How Much
Apr 18 2011 // Reinsurance rates may be edging higher only now, but the companies’ shares could still surge amid investor hopes that disasters, including Japan’s earthquake, will result in much higher rates in the...
San Francisco 1906 Earthquake: What If It Happened Today?
Apr 14 2011 // Seismologists predict a major earthquake, similar in size to the 1906 quake, can hit the San Francisco area at any time. With inflation and exposure added, the total property loss if such an event occurred today could be...
P/C Industry Depends Too Much on Catastrophe Models, Says Pioneer Clark
Apr 14 2011 // Catastrophe models are a great risk management tool for property/casualty insurers but even the person who created the first one is worried that they are being given more credit and influence than they deserve. Karen Clark...
Aon Benfield Partners with Shanghai Institute on Typhoon Research
Apr 14 2011 // Global reinsurance broker Aon Benfield and Shanghai Typhoon Institute (STI) of China Meteorological Administration – the only state-funded typhoon research institute in China – have entered into an exclusive strategic...
Baldwin & Lyons Predicts $15.5M Loss from International Catastrophes
Apr 13 2011 // Indianapolis, Ind.-based property and casualty insurer Baldwin & Lyons Inc. announced that, based on preliminary information received from its ceding reinsurers, the estimated after tax loss associated with first...
National Weather Service Confirms 4 Tornadoes Hit North Texas
Apr 13 2011 // A National Weather Service storm survey team has confirmed that at least four tornadoes struck rural areas south and east of Dallas and Fort Worth on April 11. A line of savage thunderstorms packing damaging winds and...
Cleanup Continues in Wisconsin After 4 Tornados Hit
Apr 13 2011 // The sounds of chain saws filled the air on April 11 in several central Wisconsin towns as people cleared downed trees and other debris from streets and damaged homes after thunderstorms and at least four tornados hit the...
Record $1 Billion Catastrophe Bonds Issued in Q1
Apr 13 2011 // Attractive market conditions as a result of strong investor demand resulted in a record issuance of $1 billion catastrophe bonds in the first quarter of 2011, compared to $650 million in the same quarter last year. This is...
Cleanup of Tornado-Swept Iowa Town to Take Months
Apr 12 2011 // Tom Sanford stepped carefully through his tornado ravaged home in Mapleton, Iowa, his work shoes crunching on broken glass and wood splinters scattered across the floor. In the living room, next to his busted television,...
Wide Tornado Cuts a Swath Through West Iowa Town
Apr 11 2011 // A large tornado flattened a grain elevator and destroyed homes and buildings on its weekend rampage through the small western Iowa town of Mapleton. Authorities reported no serious injuries. “It was huge, just...
