Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
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...
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...
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...
Declarations
Apr 9 2007 // Catastrophic coverage “A decrease in the already low penetration rate would reduce the number of Californians able to afford to rebuild after a devastating earthquake.” — The California Department of...
European Insurance Forum puts Ireland in the spotlight
Apr 9 2007 // Eighteen years ago an Irish insurance conference would have consisted of a broker and an underwriter from Dublin having a pint of Guinness in a pub (most likely in London). Times have changed. Since the founding of the...
News Currents
Apr 9 2007 // Insurers advise Congress private markets should handle most disasters But mega-cats need a public-private partnership, first responders and industry agree The best way for the federal government to help property owners...
Underwritiers weigh design, construction of offshore oil platforms
Apr 9 2007 // Not all offshore platforms are created equal, which is why one platform will survive a storm unscathed while another nearby is completely obliterated. In order to appropriately underwrite offshore platform risk,...
Large Property Insurance Market Remains Unsettled, Wholesaler Reports
Apr 6 2007 // Even a year of profitability has not settled the large property insurance market for buyers, especially for catastrophic coverage near coastlines and in earthquake zones, finds a new research report from New Jersey...
New Mexico Insured Tornado Losses Estimated at $16.5 Million
Apr 6 2007 // Tornado and hail that tore across New Mexico in March has an estimated insurance price tage of $16.5 million, according to the Rocky Mountain Insurance Information Association. The association said insurance adjusters have...
Claremont, Calif.’s $17.5 Million Deal with Homeowners in Wildfire Suit
Apr 5 2007 // Palmer Canyon, Calif., residents who blamed the city for homes burned in the 2003 Grand Prix wildfire have settled their lawsuit for $17.5 million, city officials announced. Homeowners claimed the city failed to properly...
Not All Gulf Coast Residents Put Stock in Latest Hurricane Forecast
Apr 5 2007 // A hurricane forecaster this week predicted a turbulent season this year, including a good chance one will hit the coast, but forgive South Carolina’s Huiet Paul if he was unimpressed. “Only the good Lord knows...
