Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Texas Agency Spending Some Hurricane Recovery Money
Aug 10 2009 // A Texas agency that was questioned for not spending much of the money it received to help 2005 hurricane victims has improved but still has spent only 31 percent of the funds, a state auditor’s report found. The...
Two Typhoons Slam into Eastern Asia; Powerful Earthquake Strikes Japan
Aug 10 2009 // Typhoon Morakot wreaked havoc in Taiwan over the weekend, making landfall late on Friday in Taiwan’s Hualien County with sustained winds of 148 km/h (92 mph). “As of Friday, Morakot had generated only 100 mm (4...
Felica Weakens to Tropical Storm; Flooding Possible
Aug 10 2009 // The National Hurricane Center has downgraded Felicia, which was a hurricane headed toward Hawaii last week, to a tropical storm. A tropical storm watch remains in effect for the islands of Oahu, Hawaii, Maui, Kahoolawe,...
Hurricane Felicia Weakened to Category 2
Aug 7 2009 // As predicted, the National Hurricane Center said Hurricane Felicia that is headed toward Hawaii is weakening. The Center has downgraded the hurricane to a category two, and said maximum sustained winds are at 100 mph and...
New Earthquake Risk Models Likely To Reduce Insured Loss Estimates
Aug 6 2009 // Newark, Calif.-based Risk Management Solutions (RMS) has unveiled its next-generation models for North America earthquake risks, covering the United States and Alaska, Canada and Mexico. The new models are likely to lead...
Hurricane Headed for Hawaii; Typhoon Could Strike Taiwan
Aug 6 2009 // In the eastern Pacific, Hurricane Felicia is moving towards Hawaii. As of the National Hurricane Center’s 11:00 EST advisory on Thursday, Hurricane Felicia — currently at category 4 strength — is in the...
U.S., Colorado Forecasters Trim Atlantic Hurricane Forecasts Again
Aug 5 2009 // The Colorado State University storm research team cut its 2009 Atlantic hurricane season forecast Tuesday, predicting that El Nino would trim the tally to 10 tropical storms, with four becoming hurricanes. The noted...
Florida, Georgia Insurance Chiefs Renew Catastrophe Cooperation Plan
Aug 4 2009 // Florida Insurance Commissioner Kevin McCarty and Georgia Insurance Commissioner John Oxendine have renewed a partnership agreement to ensure continuity of operations in the event of a catastrophe that causes significant...
New Homeowners Earthquake Rating Plan Available
Aug 3 2009 // Wheaton, Ill.-based American Association of Insurance Services (AAIS) has developed a new rating plan for adding earthquake coverage to policies based on standardized forms, manual rules, and rating information provided...
2nd ‘Stanford’ Suit Targets Willis; Terrorist Bombs Kill 9 in Indonesia; Insurance Fraud on the Rise in UK; Lloyd’s ‘Fli
Aug 3 2009 // Willis has been named in a second lawsuit stemming from its relation with indicted financier Allen Stanford. A Venezuelan investor, Reinaldo Ranni, filed a class action in U.S. federal court in Miami on July 17, accusing...
The Hartford Posts Net Loss of $15M in Q2; P/C Combined Ratio at 90.4%
Jul 31 2009 // The Hartford reported a second quarter 2009 net loss of $15 million compared with second quarter 2008 net income of $543 million. Even so, Ramani Ayer, chairman and chief executive officer of The Hartford, said the insurer...
Researchers Hope to Improve Hurricane Prediction
Jul 30 2009 // They’re deceptively simple looking detectors: one an antenna with built-in GPS; the other electronic sensors inside what looks like — and in fact, is — a large, upside-down metal salad bowl. The sensors...
Texas Enacts Windstorm Insurance Reforms; Will They Be Enough?
Jul 30 2009 // During the recently completed 81st Legislative Session, the Texas legislature adopted the most significant reforms to the Texas Windstorm Insurance Association (TWIA) since 1997 with the passage of House Bill 4409 (HB...
Travelers Earnings Fall 20% in Q2; Net Premiums Down Slightly
Jul 30 2009 // Travelers Cos. Inc. said on Thursday that second quarter earnings fell about 20 percent on lower investment income and underwriting profit. An increase in premium levels helped Travelers’ net policy sales keep pace...
Suit Targets The Hartford’s Handling of Hurricane Wilma Claims in Florida
Jul 29 2009 // A Miami lawyer has filed class action suit against The Hartford alleging the company failed to pay replacement cost on Hurricane Wilma claims to insureds who had purchased the coverage. The suit claims The Hartford refused...
Earthquake Monitors Placed in North Dakota
Jul 29 2009 // North Dakota, known for blizzards and floods, is getting sensors to check for earthquakes as part of a national project listening to what happens underground. The possibility of a big quake damaging the state is remote:...
Challenges to Anti-Concurrent Cause Clauses Linger in Katrina Lawsuits
Jul 27 2009 // Hurricane Katrina, in addition to causing unprecedented damage and destruction, added significantly to the workload of state and federal courts in Louisiana and Mississippi. Almost four years after the fact, those courts...
Kansas Town Destroyed by Tornado Now a Model ‘Green’ Community
Jul 27 2009 // Greensburg, Kan., which was nearly wiped off the map by a tornado two years ago, is famous for having the world’s largest hand-dug well and the world’s largest pallasite meteorite. Now it’s another...
IPC Sale to Validus Includes ‘Storm-proof’ Agreement
Jul 27 2009 // IPC Holdings, the Bermuda catastrophe reinsurer that attracted interest from more than a dozen bidders, held out for a storm-proof agreement before agreeing to a sale to rival Validus Holdings The $1.65 billion...
State Regulation, Earthquake Coverage of Concern to Missouri’s Huff
Jul 24 2009 // In an address to some 130 members of the Missouri Association of Insurance Agents (MAIA) Missouri Insurance Director John M. Huff made a strong argument that states, rather than the federal government, should continue to...
