Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Catastrophic Events Raise BI Coverage Questions
Nov 18 2007 // Several recent and relatively recent events — the wildfires in southern California, Hurricane Katrina in August 2005 and the Sept. 11, 2001, terrorist attacks — have raised awareness of how, and whether, business...
Disaster Recovery
Nov 18 2007 // Disaster recovery still is very much on the minds of property owners and insurers in the South Central region despite relatively mild back-to-back catastrophe years. Louisiana has a long way to go before the state can say...
Firefighters Warn of Continued Wildfire Threat in California
Nov 18 2007 // Rapid development in wildfire-prone areas and continued bone-dry weather have alarmed California firefighters, who began a sweeping assessment of fire danger and what’s needed to meet it. Catastrophic wildfires that...
TRIA Extension Must Pass Without NBCR Provision
Nov 18 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. Construction slowed...
Congress Considers Disaster Legislation to Alleviate Coastal Insurance Crisis
Nov 18 2007 // House passes measure opposed by Bush and insurance industry remains at odds on best solution Disaster legislation is hot on the minds of congressional leaders this month as a handful of bills made their way to both the...
AIR Estimates Chile Earthquake Insured Losses Not Over $80 Million
Nov 16 2007 // AIR Worldwide Corporation announced that it estimates insured losses from a major earthquake that struck the coast of Chile on Wednesday will likely not exceed $80 million. AIR noted that the “USGS has issued a...
‘Unofficial’ Tornadoes Cause Damage in Tennessee and Kentucky
Nov 16 2007 // An apparent tornado touched down Wednesday night west of Chattanooga, Tenn., damaging buildings and causing minor injuries to at least nine people, including three children. Tornadoes must be confirmed by the National...
Rate Increase OK’d for Texas Windstorm Insurance Association
Nov 16 2007 // Texas Windstorm Insurance Association policyholders’ rates will go up begining Feb. 1, 2008, as a result of rate increases approved by the Texas Department of Insurance yesterday. Texas Insurance Commissioner Mike...
Senate Approves Terrorism Backstop Extension
Nov 16 2007 // The Senate today passed the Terrorism Risk Insurance Program Reauthorization Act (TRIPRA) of 2007, legislation that will extend the federal terrorism insurance backstop. The current federal terrorism reinsurance program...
AIR Releases Updated Version of U.S. Terrorism Model
Nov 14 2007 // AIR Worldwide Corporation has released an updated version of its U.S. Terrorism Model, which is available in Version 9.5 of its catastrophe risk management systems. AIR said the new model is the result of “two years...
S&P Report Examines Calif. Earthquake Insurance Coverage
Nov 14 2007 // As if Southern California’s recent devastating wildfires weren’t enough, the Golden State got a second jolt on Oct. 30 via a 5.6 magnitude earthquake just outside of San Jose. An article published by Standard...
Senate Bills Offer Tax Credits, Loans to Help Property Owners Hit by Disasters
Nov 13 2007 // Saying he believes that immediate assistance is needed for those living near coastal areas who are grappling with skyrocketing property insurance premiums, Senator Chris Dodd, D-Conn., chairman of the Senate Banking,...
Ga. Tree Farmers Worry about Drought, Bugs in Aftermath of Wildfires
Nov 13 2007 // The wildfires that burned almost a half-million acres in south Georgia were snuffed out months ago, but tree farmers now face prolonged drought and insect infestations as they prepare to replant the vast...
Safeco Estimates Calif. Wildfire Losses at $35 Million
Nov 12 2007 // Seattle-based Safeco is estimating that claims stemming from the recent California wildfires will amountto $35 million in pretax catastrophe losses. That figure represents the estimated losses both from claims received...
Group Urges Buyout Plan for Hurricane-Damaged Homes in New Orleans
Nov 12 2007 // Louisiana’s Road Home program could end up buying about 7,000 hurricane-damaged properties in New Orleans, creating what one faith-based group sees as a golden opportunity for new homeownership in a city that had a...
Kan. Legislative Proposal to Help Areas Hit by Flooding and Tornado
Nov 12 2007 // Two Kansas legislative leaders outlined a $17.5 million relief package Saturday, (Nov. 10) to help flood-stricken southeast Kansas and tornado-ravaged Greensburg, with money to encourage home building and tax breaks for...
Reinsurers Blast Federal Disaster Backup Plan Advancing in Congress
Nov 12 2007 // The nation’s reinsurance industry is criticizing Congressional natural disaster legislation as raising false hopes about addressing the homeowners insurance market in areas prone to hurricanes, at the expense of U.S....
More than 500 Insurance Adjusters to Assist Calif. Wildfire Victims
Nov 9 2007 // California Insurance Commissioner Steve Poizner today announced that as of Thursday, 502 emergency insurance adjusters had been registered with the Department of Insurance to expedite the processing of insurance claims for...
Houses Passes Federal Disaster Insurance Measure Opposed by Bush
Nov 9 2007 // A day after a similar bill was introduced in the Senate, the House of Representatives passed federal legislation to help hurricane and disaster-prone states make property insurance more readily available to residents...
Firefighters Warn of Continued Wildfire Threat in California
Nov 8 2007 // Rapid development in wildfire-prone areas and continued bone-dry weather have alarmed California firefighters, who began a sweeping assessment of fire danger this week and what’s needed to meet it. Catastrophic...
