Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
The Hartford Reports 3Q Loss
Nov 4 2009 // The Hartford Financial Services Group reported a third quarter net loss of $220 million, compared with a net loss of $2.6 billion in the year-ago period. Written premiums for The Hartford’s property/casualty...
At Least 14 Reported Dead as Typhoon Mirinae Lashes Philippines
Nov 2 2009 // Typhoon Mirinae has battered the Philippine capital and surrounding provinces, still reeling from recent flooding, killing at least 14 people [IJ Note — later reports have increased the death toll to 24] and...
Q3 Profit Rises at CNA; CEO Motamed Sees ‘Encouraging’ Rate Trends
Nov 2 2009 // CNA Financial Corp.’s third quarter 2009 results included net operating income of $331 million and net income of $263 million along with a combined ratio for property/ casualty operations of 101.0%. Net operating...
San Diego Power Company Pays Wildfire Restitution
Nov 2 2009 // San Diego Gas & Electric and Cox Communications have agreed to pay $17 million to settle claims by state investigators that poor maintenance led to three huge wildfires in 2007. The settlement, announced Friday, comes...
Decades in the Making, NAIC Outlines Natural Catastrophe Plan
Nov 1 2009 // White Paper Approved at Fall Meeting with Near-Unanimous Vote Though it may seem like the debate over the creation of a national catastrophe insurance plan is a relatively recent phenomenon, the National Association of...
Texas Windstorm Insurance Proposed Rate Hike Rejected
Nov 1 2009 // The Texas Department of Insurance has rejected a request from the Texas Windstorm Insurance Association for a 10 percent rate increase for both residential and commercial risks. But regulators left open the possibility...
California Still at Earthquake Risk
Nov 1 2009 // California is still vulnerable to devastating loss should another earthquake occur like the Loma Prieta earthquake, which occurred 20 years ago, according to ProtectingAmerican.org. “The fact is, that...
Arsonist Faces Murder Charge for Heart Attacks Linked to 2003 California Wildfire
Nov 1 2009 // Case Shows New Determination to Charge Alleged Arsonists with Murder for Firefighter and Civilian Deaths Retired accountant James McDermith’s mad dash to retrieve a camper and pack it with belongings as a wildfire...
AIR Tracking Typhoon Mirinae; Could Hit Northern Philippines Today
Oct 30 2009 // According to catastrophe risk modeling firm AIR Worldwide, a major tropical cyclone is threatening the northern Philippines for the fourth time in the past month. AIR rported that Typhoon Mirinae is expected to make...
AIR Involved in 80% of $2.1 Billion in Catastrophe Bonds Issued in 2009
Oct 28 2009 // Boston-based AIR Worldwide Corp. (AIR) reported that it has provided risk modeling and analytical services for over 80 percent of the $2.1 billion of catastrophe bonds issued to date in 2009. AIR said it has been the...
Scientists Find Cause of Oregon Earthquakes
Oct 28 2009 // Scientists say a group of previously unknown faults was behind an odd swarm of earthquakes last year off the Oregon Coast. But just what set them off remains unknown. Oregon State University marine geologist Robert Dziak...
South Carolina Court Hears Wildfire Case This Week
Oct 27 2009 // A man fined in the most destructive wildfire in South Carolina history is facing a court date to answer to charges. Court documents show the trial for Marc Torchi is set for Wednesday in Central Jury Court in Conway, a...
Lloyd’s Notes Success of Regional Catastrophe Pools, CCRIF
Oct 26 2009 // An article on the Lloyd’s of London web site (www.lloyds.com) discusses the success of an “innovative solution” which can make funding available to governments in the aftermath of a natural...
California Still at Earthquake Risk
Oct 23 2009 // California is still vulnerable to devastating loss should another earthquake occur like the Loma Prieta earthquake, which occured 20 years ago, according to ProtectingAmerican.org. “The fact is, that...
Drop in Catastrophe Losses Leads Travelers to Strong Underwriting Gain
Oct 22 2009 // Travelers Companies Inc., the No. 1 publicly-traded U.S. property/ casualty insurer, said its quarterly profit more than quadrupled, strongly beating expectations, as a dearth of costly catastrophes left the company with...
Analysts Forecast Healthy Q3 Reports from Insurers
Oct 22 2009 // If the stock market and weather are any indication, third-quarter earnings reports from insurers will look a lot better than they did a year ago. The big companies, which began their reporting season today with Travelers...
Murder Arrest in 2003 California Wildfire
Oct 22 2009 // Almost six years after a wildfire destroyed nearly 1,000 homes in Southern California, prosecutors say they have enough evidence to charge a prison inmate with arson and murder in connection with the 2003 blaze. San...
Researchers: Hurricane-related Power Outages Can Be Predicted
Oct 22 2009 // Using data from Hurricane Katrina and four other destructive storms, researchers from Johns Hopkins and Texas A&M universities say they have found a way to accurately predict power outages in advance of a hurricane....
Typhoon Lupit on Course to Hit Philippines; Rick Continues to Weaken
Oct 21 2009 // Catastrophe risk modeling firm AIR Worldwide warns that the Philippines are bracing for the arrival of Typhoon Lupit. The storm is located about 800 kms (500 miles) east of northern Luzon island and is moving west at...
Homeless Man Detained in California wildfire Probe
Oct 21 2009 // A homeless man was arrested and charged with arson for starting a tiny blaze in August near the spot where a gigantic wildfire erupted several days later, killing two firefighters, homicide detectives said...
