Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Fire Victims Should Seek Safety, Make Contact with Insurers
Nov 18 2008 // As firefighters work to contain the Tea, Sayre, and Freeway Complex fires throughout Southern California, property/casualty insurance companies are on the ground reaching out to policyholders to facilitate immediate...
Southern California Battles Devastating Wildfires
Nov 17 2008 // Southern Californians weathered a fourth day of devastation on Sunday, as wind-blasted wildfires destroyed hundreds of residences, shut down major freeways and forced thousands of residents in the path of flames to flee to...
Minor Earthquake Felt in Maine
Nov 17 2008 // People in western Maine were given a slight jolt Thursday when a minor earthquake struck in Rumford. According to the Weston Observatory at Boston College, the earthquake happened at 5:26 a.m. and had a magnitude of...
La. Citizens OKs $35M Settlement; Pays $90M in Hurricane Claims
Nov 17 2008 // The board of Louisiana’s last-resort insurance company approved paying up to $35 million to settle a class action lawsuit alleging that the firm took too long to pay off policyholders’ claims after the 2005...
Mississippi Rebuilds Its Insurance Markets
Nov 16 2008 // Wind Pool Modernization, Better Building Code Enforcement and Carrier Recruitment Efforts Begin to Pay Off Back in January, when Mike Chaney was getting ready to be sworn in as Mississippi insurance commissioner after his...
Successive Hurricanes: Potential Windfall for Insureds?
Nov 16 2008 // The 2008 hurricane season came very close to presenting, on a large scale, the potential quandary caused by successive losses. On Sept.1, 2008, Hurricane Gustav came ashore and caused substantial damage from the Louisiana...
Declarations
Nov 16 2008 // Financial Myth “This is a financially dangerous myth. … Just because the resale value of your home may have declined does not mean that the cost to rebuild it has also dropped—and that should be your target....
Study: California Earthquake Could Cause $200 Billion in Losses
Nov 16 2008 // If a magnitude 7.0 earthquake occurred on California’s Hayward Fault, it would result in economic losses between $210 billion and $235 billion, with only up to $30 billion likely to be insured, according to a study...
Best Affirms Lloyd’s Syndicates 609, 570 (Atrium/Ariel) ‘A’ Ratings
Nov 14 2008 // A.M. Best Co. has affirmed the Best’s Syndicate Rating of ‘A’ (Excellent) and issuer credit rating (ICR) of “a+” of Lloyd’s Syndicates 609 and 570, both of which are managed by Atrium...
Millions in Southern California Take Part in Earthquake Drill
Nov 13 2008 // At 10 a.m. this morning, millions of Southern Californians are expected to millions of people in homes, schools, businesses, government offices, and public places are expected to drop, cover, and hold on, in what is...
South Carolina Holds Earthquake Drill
Nov 13 2008 // The ground may not be shaking, but emergency officials want South Carolina residents to be ready if and when it does. An earthquake drill was held Wednesday as part of South Carolina Earthquake Awareness Week. Emergency...
Texas House Panel Studies Response to Hurricane Ike
Nov 12 2008 // Hurricane Ike left thousands homeless, millions without power and destroyed houses and businesses along the Texas Gulf Coast. But it also gave state and local governments a chance to learn from their mistakes during a...
Marsh’s Bowring Supports Clients with Innovative Risk Transfer Products
Nov 11 2008 // Bowring, Marsh’s International Specialist Broker, announced new efforts to make its placement leadership meet the requirements of its clients by creating “five bespoke risk transfer products covering property,...
Deadline for Hurricane Gustav Disaster Funds Nears in Mississippi
Nov 11 2008 // Nov. 25, 2008, is the deadline to register for federal and state Hurricane Gustav disaster aid, according to the Federal Emergency Management Agency, Mississippi Emergency Management Agency and the U.S. Small Business...
Liberty Mutual Absorbs $800 Million in Catastrophe Losses in Q3
Nov 11 2008 // Quarterly profits nosedived by nearly 99 percent at Boston-based Liberty Mutual group, which saw its third quarter earnings fall to $6 million – down from $404 million in the same quarter last year. “Given the...
Paloma Downgraded to Tropical Depression
Nov 10 2008 // Paloma, which had reached Category 4 hurricane strength, lost its punch as it stalled over Cuba Sunday and was downgraded to a tropical depression after coming ashore as a powerful hurricane that battered the island, which...
Deadlines Loom in Louisiana for Post-Hurricane FEMA Assistance
Nov 10 2008 // The Louisiana Recovery Authority says even people who have insurance should register with FEMA if they were affected by hurricanes Gustav or Ike – and they need to do it soon. The deadline is Dec. 3 for people...
Hawaii Gets New Hurricane Forecaster
Nov 10 2008 // The National Weather Service’s Honolulu Forecast Office is getting a new director of operations. Richard Knabb is currently a hurricane specialist at the National Hurricane Center in Miami, Fla. He will manage the...
New Maps Reveal Evansville’s Earthquake Risk
Nov 6 2008 // The U.S. Geological Survey is completing maps that will indicate earthquake hazards in the Evansville area. Geophysicist Oliver Boyd tells the Evansville Courier & Press that he hopes the final maps will be ready next...
Small Earthquake Reported in East Tennessee
Nov 3 2008 // The U.S. Geological Survey reported a small earthquake occurred in East Tennessee, but emergency officials say no damage has been reported. The agency recorded the earthquake was centered near Maryville and occurred at...
