Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
9th Windstorm Insurance Forum to Focus on Fla. Property Concerns
Jan 30 2008 // The concerns of property insurance in Florida and the perils facing the property insurance industry are some of the key issues to be addressed at the Ninth Annual Windstorm Insurance Conference, set for Feb. 4 – 7 in...
Ohio Insurance Director Issues Terrorism Risk Insurance Act Bulletin
Jan 29 2008 // Ohio Department of Insurance Director Mary Jo Hudson earlier this month issued a bulletin concerning the recent extension of the Terrorism Risk Insurance Act (TRIA), as enacted by Congress and signed by the President. The...
Mo. Governor Seeks Federal Help to Recover from Rare Winter Tornadoes
Jan 28 2008 // Missouri Gov. Matt Blunt is seeking federal help recovering from a storm that churned up rare winter tornadoes. Two people died, 30 others were injured and more than 400 homes were damaged in the storms that started the...
National Hurricane Center Names New Director
Jan 28 2008 // The National Hurricane Center’s new chief said he would deal with problems behind the scenes and work to boost morale among staffers who helped oust the former director for his outspokenness. Bill Read, 58, had been...
More Atlantic Hurricane Activity Doesn’t Mean More Landfall Risk
Jan 27 2008 // New research on the link between the formation of hurricanes in the Atlantic basin and U.S. landfall activity suggests that using Atlantic basin hurricane activity as a proxy for landfall activity can lead to erroneous...
La.’s Valued Policy Law: New Teeth for Hurricane Claims?
Jan 27 2008 // Property damage from hurricanes primarily comes from two sources: wind and water. Insurance coverage for property damaged by wind, and by rain water which enters the property as a result of wind damage, is generally...
Southern California Wildfire Losses Could Top $2 Billion
Jan 27 2008 // The California Department of Insurance announced that 37,117 claims have been filed since the wildfires broke out in Southern California in October 2007, and 1,531 of those claims are known to be total losses. Insurers...
Executives See Only Moderate Growth for P/C Industry in 2008
Jan 27 2008 // Property casualty insurance insiders predicted 2008 will be a year of marginal growth as continued pricing competition will keep premiums low and profits lower — although that could quickly worsen if a natural...
European Risk Managers, Industry Face New and Not so New Challenges
Jan 27 2008 // FERMA conference highlights growing importance of risk management in complex global business environment The insurance industry’s “traditional model” has become outdated and is so abstruse that the...
Agents Mind Your Es & Os
Jan 27 2008 // As insurance companies face larger, more frequent catastrophe losses, they are increasingly playing hardball with their insureds. Hurricanes, wildfires, tornadoes, floods and earthquakes can put pressure on a...
ISO: Insurers to Pay $6.5 Billion in 2007 Catastrophe Claims
Jan 27 2008 // U.S. property/casualty insurers are expected to pay homeowners and businesses $6.5 billion for 2007 property losses from 23 catastrophes — the eighth lowest cost in a decade and the seventh lowest frequency for the...
Texas Windstorm Issues Focus of Public Hearing Jan. 29
Jan 25 2008 // The Texas Department of Insurance will hold a public hearing on Jan. 29 to consider proposals by the Texas Windstorm Insurance Association that concern both residential and commercial properties. TWIA is requesting...
WKF&C Offers Earthquake Deductible Buybacks Coverage
Jan 25 2008 // Tom Wilson, president of WKF&C Agency, Inc., has announced that his firm will be offering earthquake deductible buybacks from an A.M. Best-rated “A” admitted carrier. With all construction types...
U.S. Releases New Disaster Response and Recovery Plan
Jan 23 2008 // The Department of Homeland Security (DHS) has released a comprehensive plan for what the country must do to have a more effective and unified response and recovery in disaster situations. DHS said that the new plan, called...
Ark. Gov.: 5 Counties Disaster Areas Due to Tornado, Thunderstorm
Jan 16 2008 // Ark. Governor Mike Beebe declared Benton, Conway, Craighead, Poinsett and Pope Counties state disaster areas due to the damage caused by thunderstorms and tornadoes on Jan. 7 and Jan. 8. Beebe’s declaration releases...
Tornado in Ky. Brings $500,000 in Damage
Jan 15 2008 // Weather officials have confirmed a tornado touched down and caused damage last week in south central Kentucky. A storm survey team with the National Weather Service rated the tornado an EF-1, with maximum wind speeds of...
Frequency of Ohio Earthquakes Seems on the Rise
Jan 15 2008 // It was just a relatively small shake, an earthquake beneath Lake Erie that was a mild 3.1 magnitude that could be felt in some lakeshore communities. Still, Ohio seems increasingly prone to the shakes; there have been 25...
Risk Management Solutions Comments on French Windstorm Securitization
Jan 14 2008 // Risk Management Solutions gave details of the recent analysis it conducted for a securitization of windstorm risk in France. The securities were issued through Green Valley Ltd., a special purpose vehicle (SPV), and...
ISO: Insurers to Pay $6.5 Billion in 2007 Catastrophe Claims
Jan 14 2008 // U.S. property/casualty insurers are expected to pay homeowners and businesses $6.5 billion for 2007 property losses from 23 catastrophes — the eighth lowest cost in a decade and the seventh lowest frequency for the same...
Republican Giuliani Tells Fla. He Backs National Catastrophe Plan
Jan 14 2008 // Republican presidential candidate Rudy Giuliani said that his experience as New York City’s mayor during the Sept. 11, 2001, terrorist attacks is a big reason why he supports a national insurance backup...
