Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Rep. Frank: 120-Day extension for TRIA possible
Nov 4 2007 // The key House leader on insurance issues says he will push for a 120-day extension of the federal terrorism reinsurance program that expires at year’s end rather than simply accept the Senate bill that is narrower in...
TRIA extension must pass without NBCR provision
Nov 4 2007 // After the terrorist attacks of Sept. 11, 2001, the market for commercial property and liability insurance in large urban areas was in turmoil, as reinsurance for terrorism became expensive and scarce. Congress responded in...
Insurers Used Variety of Resources to Reach Out to Fire Victims
Nov 4 2007 // In the midst of the blazing wildfires that overwhelmed seven Southern California counties in October, insurance companies sprung into action. Most said they had learned from past catastrophes and that preparation was key...
Wildfire Woes
Nov 4 2007 // When catastrophes strike, the insurance industry often suffers. In addition to suffering financial losses from having to manage claims, those in the industry also seem to suffer in the public’s eye. Mainstream media...
Climate Change May Increase Wildfires in Great Basin
Nov 4 2007 // Climate change is likely to increase the number of wildfires fueled by invasive weeds that are spreading throughout the Great Basin, researchers recently told a U.S. Senate subcommittee. Researchers described a potential...
Five Tips in Dealing with Wildfire Losses
Nov 4 2007 // Here we go again: another disaster, another insurance test. Will Southern Californians whose homes and businesses were destroyed or damaged by wildfires fare better with their insurance providers than Katrina’s...
Survey: Calif.’s Hayward Fault “Ready to Pop”
Nov 4 2007 // Time is not on our side, when it comes to suffering damage from an earthquake along Northern California’s Hayward Fault, according to a new map by the U.S. Geological Survey. The USGS released a new map showing the...
10 Calif. DOI partners with CAL FIRE
Nov 4 2007 // Groups aim to prevent fire losses during height of wildfire season 10 Hawaii approves 19.3% workers’ comp decrease NCCI recommended 16.8 percent drop 10 Calif. approves AAA’s 6.5% auto rate reduction Carrier...
Major California Wildfires
Nov 4 2007 // Oakland Hills Oct. 1991 2,900 $1.7 billion Cedar Fire Oct. 2003 2,200 $1.06 billion Old Fire Oct. 2003 1,100 $975 million Laguna Oct. 1993 441 $350 million Topanga-Malibu Nov. 1993 323 $375 million Santa Barbara June...
News Currents
Nov 4 2007 // Catastrophic wildfires sweep across Southern California Industry estimates insured losses at more than $1.5 billion and rising Insured losses are continuing to accumulate from Southern California wildfires that burned in...
States under cover
Nov 4 2007 // Natural catastrophes — and the affordability and availability of property insurance in disaster-prone areas — have been on center stage in coastal states from the Northeast to the Gulf Coast. This fall, the...
Hurricane Noel, Season’s Deadliest Storm, Moving up East Coast
Nov 2 2007 // U.S. forecasters have issued an advisory for Noel, now a Category 1 hurricane and this season’s most dangerous storm, which is moving northward between the southeastern U.S. and Bermuda and growing in size. The...
AIR Enhances Cat Models
Nov 2 2007 // Boston-based AIR Worldwide Corporation has released the latest version of its “CLASIC/2™, CATRADER® and CATStation® “catastrophe risk management systems. The new version 9.5 “features import, analysis...
Noel Leaves over 60 Dead; Bahamas, Florida Coast Warnings
Nov 1 2007 // It may not have reached hurricane strength, but tropical storm Noel has piled up a lengthening list of death and destruction, as it heads towards the Bahamas. The slow moving storm caused the deaths of at least 40 people...
5.6 Magnitude Earthquake Shakes San Jose Area
Oct 31 2007 // An magnitude 5.6 earthquake struck the San Francisco Bay Area last night, around 8 p.m., about 9 miles northeast of San Jose, according to the U.S. Geological Survey Earthquake Hazards Program. Ten aftershocks were felt,...
Calif. Wildfire Claims Up To About 14,000
Oct 31 2007 // Roughly 14,000 insurance claims have been filed as a result of last week’s fire and wind storms, according to the Insurance Information Network of California. Working in partnership with the Insurance Information...
Tropical Storm Noel Lashes Caribbean
Oct 30 2007 // Noel, a late season tropical storm, has caused extensive damage in the Dominican Republic and threatens greater havoc in Haiti. The two countries, who share the island of Hispaniola, have been hit with high winds and...
Noel Threatens Bahamas, Not U.S.
Oct 30 2007 // According to the most recent bulletin from the National Hurricane Center in Miami, Tropical Storm Noel’s projected track should keep it well away from the U.S. mainland. The storm, the 14th of the season, has caused...
Guy Carp Partners with WSI Corp. to Assess U.S. Hurricane Risks
Oct 30 2007 // Guy Carpenter & Company, LLC, Marsh & McLennan’s global risk and reinsurance unit, has announced a collaboration with WSI Corporation, a provider of weather-driven business solutions, to “help cedants...
Avocado Crops Hard Hit by Wildfires
Oct 30 2007 // Wind-driven wildfires that torched Southern California have charred fruit orchards, wilted flowers and littered the ground with avocados, delivering a devastating blow to area farmers already reeling from a deep winter...
