Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Fireman’s Fund Offers to Rebuild Wildfire Homes “Green”
Nov 7 2007 // In response to the Southern California wildfires that burned in late October, Fireman’s Fund Insurance Co. is responding with an innovative green upgrade for affected policyholders. The company said it will rebuild...
Catastrophe Modeling Pioneer Clark Advises on Insurers’ Best Practices
Nov 6 2007 // Karen Clark & Co. in Boston has started providing reviews of company internal catastrophe risk assessment and management processes to help companies ensure they have holistic risk management processes that comply with...
La. Dept. of Labor Gets $10.5 Million to Help with Hurricane Recovery
Nov 6 2007 // The Louisiana Department of Labor has received a $10.5 million grant from the U.S. Department of Labor to assist 3,500 citizens in hurricane-affected parishes, the agency reported. LDOL requested the National Emergency...
Report: Global Warming to Worsen Coastal Insurance Woes
Nov 5 2007 // Homeowners and businesses are finding it harder to afford, or even obtain, insurance in coastal states after catastrophes such as Hurricane Katrina, and global warming is going to make the situation worse, according to a...
Weekend’s Hurricane Noel Spares Northeast Coast Serious Damage
Nov 5 2007 // High wind and heavy surf hit parts of the Northeast U.S. coast as the remnants of Hurricane Noel blustered northeastward across the open Atlantic. The wind and rain caused some coastal flooding, brought down tree limbs and...
State Audit: Texas Slow in Delivering Federal Aid to Hurricane Victims
Nov 5 2007 // Texas has used only 2 percent of more than $500 million in federal aid for homeowners and communities hit by Hurricane Rita more than two years ago, a state audit found. State Auditor John Keel found that more than 4,000...
Lloyd’s Holds Conference on Terrorist Threats in New York
Nov 5 2007 // Threats from terrorists have become a subject nobody can ignore – least of all the insurance industry. To meet those threats requires knowing who the terrorists are and how they operate. Lloyd’s recent seminar...
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...
