Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Markets/Coverages: RenaissanceRe Launches Property Catastrophe Bond Fund
Mar 6 2025 // RenaissanceRe Holdings Ltd. announced the launch of an Irish-domiciled property catastrophe bond fund, RenaissanceRe Medici UCITS Fund (Medici UCITS). A sub-fund of RenaissanceRe Medici ICAV, Medici UCITS is purpose-built...
Los Angeles County Sues Utility Edison Over Deadly Wildfire
Mar 5 2025 // Los Angeles County sued Edison International to recoup its losses from a January wildfire that was one of the most destructive in California history. The suit alleges that equipment owned by the company’s Southern...
Rain in Carolinas May Dampen Wildfires But Threat of Tornadoes, More Fires Looms
Mar 5 2025 // The Carolinas saw some much-needed rainfall Wednesday morning, helping to quell wildfires that had burned more than 2,600 acres – but also raising the threat of tornadoes. Even with the new rainfall, insurance and...
Crews Battle Wildfires Across Parts of North and South Carolina
Mar 4 2025 // South Carolina’s governor declared a state of emergency this week as dozens of wildfires burned across parts of North and South Carolina, causing evacuations, minor property losses and unhealthy air quality. State,...
Georgia Lawmakers Must Now Fix Differences on Bill to Boost Hurricane Helene Relief
Mar 3 2025 // ATLANTA (AP) — Georgia’s state Senate wants to boost spending on Hurricane Helene relief even more, including creating a grant program that could provide aid to individuals. The state Senate voted 55-1 last week to...
UK Terrorism Reinsurer Pool Re Completes Expanded Retrocession Placement of £2.75B
Mar 3 2025 // Pool Re, Britain’s government-backed terrorism reinsurer, has completed placement of a new retrocession programme with more than 60 international reinsurers. The placement provides £2.75 billion ($3.5 billion)...
Japan Battles Worst Wildfire in 40 Years Amid Record Dry Season
Mar 3 2025 // Japan is battling its worst wildfire in four decades, forcing thousands of people to flee amid some of the driest weather on record. At least one person has been killed since the blaze broke out Feb. 26 near the the city...
Texas Lawmakers Introduce Legislation to Address Wildfire Risks and Ignition Sources
Feb 28 2025 // A year after devastating wildfires engulfed the Panhandle, killing three people and burning millions of acres, Texas lawmakers have filed a slate of legislation aimed at mitigating the risks and damage of future...
Edison Says Wildfire Fund May Shield Balance Sheet From LA Fire Claims
Feb 28 2025 // California’s $21 billion wildfire fund may shield Edison International’s balance sheet if equipment owned by the company’s electric utility is found to have caused a deadly Los Angeles fire last month,...
ZestyAI: More Than $2 Trillion in US Homes at High Risk of Wildfires
Feb 28 2025 // While Western wildfires have dominated disaster news for decades, new analysis using artificial intelligence shows millions of homes across the country—even in the swampy Southeast—are at risk for wildfires. New data...
Texas Panhandle Town Grapples with Recovery One Year After Devastating Wildfire
Feb 27 2025 // Past the terracotta canyons and sloping hills in the Texas Panhandle is a colorful, small town center. A vibrant mural of the town’s name greets visitors, the yellow and blue paint from a historic motel can be seen...
Swiss Re Expects Hit of Less Than $700 Million From Los Angeles Wildfires
Feb 27 2025 // Reinsurance company Swiss Re said on Thursday that claims from wildfires in Los Angeles would be less than $700 million and would impact its first quarter results, the latest European reinsurer to disclose a hit from the...
Munich Re Faces $1.3 Billion in Claims From Los Angeles Wildfires
Feb 26 2025 // Germany’s Munich Re expects about 1.2 billion euros ($1.26 billion) in claims resulting from the Los Angeles wildfires, it said on Wednesday, representing the biggest loss reported so far by a single European...
How Trump’s Mass Layoffs Raise Wildfire Risk in the West, According to Fired Workers
Feb 25 2025 // The termination letters that ended the careers of thousands of U.S. Forest Service employees mean fewer people and less resources will be available to help prevent and fight wildfires, raising the specter of even more...
California Governor Asks Congress for $40B for LA Wildfire Relief
Feb 24 2025 // California Gov. Gavin Newsom has asked Congress to approve nearly $40 billion in aid to help the Los Angeles area recover from January’s devastating wildfires, which he said could become the costliest natural...
California Wildfire Claims Ignite Industry-Wide Credibility Crisis
Feb 24 2025 // As someone who lost everything in a devastating fire–from cherished family photos to irreplaceable heirlooms–I understand firsthand the profound impact of both fire destruction and an insurer’s response....
Zurich Insurance Sees $200 Million LA Wildfire Loss
Feb 21 2025 // Zurich Insurance Group AG is expecting pretax losses of $200 million from the January California wildfires as the insurer reported a 5% gain in profit for 2024. Group operating profit rose to $7.75 billion in the year, the...
AM Best Revises Outlooks to Negative for Mercury and Subsidiaries Over LA Wildfires
Feb 20 2025 // AM Best revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “a” (Excellent) for the members of...
Farmers Estimates $600M in Losses from LA Wildfires
Feb 19 2025 // Farmers said on Wednesday that it expects losses from the Los Angeles wildfires last month to reach an estimated $600 million. Insurance companies have so far paid out more than $6.9 billion for losses from the biggest two...
Ex-PIMCO Executive to Run World’s First Catastrophe-Bond ETF
Feb 19 2025 // Catastrophe bonds, whose returns have consistently trounced those of high-yield debt markets in recent years, are about to become accessible to a wider group of investors. An exchange-traded fund based on a portfolio of as...
