Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
U.S. Approves Funds for Florida Tornado Victims
Apr 18 2007 // Federal officials have approved more than $17.7 million in payouts in connection with tornadoes that hit Florida last winter. The Federal Emergency Management Agency said it also approved an additional $20.6 million in...
Report Details P/C Insurers’ 2006 Proftability, Escape from Storms
Apr 18 2007 // Another report on the insurance industry confirms and details what has been widely acknowledged: a sharp decline in catastrophes in 2006 contributed to improved underwriting results for the year. The U.S. property/casualty...
Tornado Losses in N.J., Conn., Ohio Could Top Those of Great Plains States
Apr 18 2007 // Most people associate tornado activity with the “Tornado Alley” of the Great Plains states. While this is true in terms of the sheer numbers of tornadoes and losses, surprisingly, catastrophe modeling shows...
Alabama Officials Prepare for Hurricane Season
Apr 17 2007 // Alabama Governor Bob Riley and state agency leaders huddled this week to review Alabama’s plans for the upcoming hurricane season, which begins June 1. The state leaders joined officials from FEMA, the U.S....
PartnerRe Makes Catastrophe Management Changes
Apr 17 2007 // Bermuda-based PartnerRe Ltd. has announced management changes in the Group’s U.S. and worldwide catastrophe reinsurance underwriting operations. Effective July 2007, Tad Walker will succeed Robin Williams as...
Swiss Re, Allianz, RMS Team-up to Write UK, US, Canada Cat Bonds
Apr 17 2007 // Swiss Re announced its successful participation in structuring and placing $150 million of securities covering flood and earthquake catastrophic events in Great Britain, Canada and the United States on behalf of...
Bush Administration Rejects Pleas for Federal Disaster Plan
Apr 13 2007 // Warning of another looming hurricane season, lawmakers including Florida Gov. Charlie Crist pleaded this week in Washington for a national catastrophe fund to help stabilize an insurance industry that they say has gone...
Wind or Water? Victims Got Conflicting Info on What Caused Damage
Apr 13 2007 // A man who sued Allstate Insurance Co. after losing his home to Hurricane Katrina lashed out April 11 at the insurance industry’s position that damage from a hurricane’s storm surge is excluded from homeowner...
Engineer Testifies at Trial for La. Hurricane Suit Against Allstate
Apr 12 2007 // An engineer who testified at the trial for a Louisiana couple’s lawsuit against Allstate Insurance Co. said he wrote a report on the plaintiffs’ storm-damaged home without inspecting the property after...
Industry to Congress: Private Market Is the Best Solution on Natural Disasters, But Some Say Federal Help Needed
Apr 11 2007 // The private insurance marketplace, not the federal government, is the best vehicle to address coastal insurance issues and natural disasters in the U.S., according to insurers. Even so, the federal government can play a...
Solomon Disaster Exposes Earthquake Monitoring System Weaknesses
Apr 10 2007 // Two years before a deadly earthquake-triggered tsunami pummeled the Solomon Islands, scientist Fred Taylor’s request for U.S. funds to set up a Pacific seismic monitoring network was flatly rejected. Then there is...
Jury Selection Begins in La. Hurricane Lawsuit Against Allstate
Apr 10 2007 // After Hurricane Katrina demolished Robert and Merryl Weiss’ New Orleans-area home, they were paid hundred of thousands of dollars by their insurance company. But they say it isn’t enough. Jury selection began...
On shaky ground?
Apr 9 2007 // Two decades since its formation, the West’s only regional catastrophe pool, the California Earthquake Authority, faces financial and management changes that could have significant implications for its future. Those...
PREDICTING EARTHQUAKE LOSSES
Apr 9 2007 // The California Earthquake Authority is collaborating with the U.S. Geological Survey and the National Science Foundation on a new earthquake damage risk model to update the current model developed by risk modeling company...
Are state-backed insurance schemes the wave of the future?
Apr 9 2007 // The government’s role in insurance markets is a matter of increasing importance and controversy. Historically, state insurance departments have regulated insurers and insurance markets, overseeing solvency, rate and...
Insurers fight impression their big profits are at claimants’ expense
Apr 9 2007 // The headline numbers were eye-popping: Allstate reported a record $5 billion profit for 2006. State Farm Insurance’s profit climbed 65 percent. St. Paul Travelers’ earnings rose sixfold in the fourth quarter,...
Are state-backed insurance schemes the wave of the future?
Apr 9 2007 // The government’s role in insurance markets is a matter of increasing importance and controversy. Historically, state insurance departments have regulated insurers and insurance markets, overseeing solvency, rate and...
Are state-backed insurance schemes the wave of the future?
Apr 9 2007 // The government’s role in insurance markets is a matter of increasing importance and controversy. Historically, state insurance departments have regulated insurers and insurance markets, overseeing solvency, rate and...
Are state-backed insurance schemes the wave of the future?
Apr 9 2007 // The government’s role in insurance markets is a matter of increasing importance and controversy. Historically, state insurance departments have regulated insurers and insurance markets, overseeing solvency, rate and...
Are state-backed insurance schemes the wave of the future?
Apr 9 2007 // The government’s role in insurance markets is a matter of increasing importance and controversy. Historically, state insurance departments have regulated insurers and insurance markets, overseeing solvency, rate and...
