Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
U.S. insurers withstood record catastrophe losses in 2005
May 22 2006 // Strong capitalization, sound risk management and efficient global risk sharing enabled the U.S. property/casualty insurance industry to withstand record-setting catastrophe losses in 2005, according to Frank J. Coyne,...
Allstate Dropping Windstorm Coverage in Texas Coastal Areas
May 22 2006 // In a move it says will “help protect its ability to meet future customer needs throughout Texas while maintaining a strong presence along the Texas coast,” Allstate Texas Llloyds announced it will phase out...
The Hartford Opens Chicago Office to Handle Catastrophic Claims
May 19 2006 // The Hartford Financial Services Group, Inc. recently announced that it has created a new office in the greater Chicago area dedicated solely to processing claims that arise out of catastrophic events. This new catastrophe...
Fla. AG Crist Announces Hurricane Preparedness Policy
May 19 2006 // A “Prepare, Respond and Recover, Florida!’ plan for surviving the upcoming hurricane season has been announced by Charlie Crist, Florida Attorney General and a candidate for governor. Announcing the details of...
Florida Re-certifies Hurricane Model for the Ninth Time
May 19 2006 // EQECAT Inc. of Oakland, Calif., has had its hurricane modeling software re-certified by the Florida Commission on Hurricane Loss Projection Methodology for the ninth consecutive time, according to Tom Larsen, EQECAT senior...
Typhoon Chanchu Hits China Coast
May 18 2006 // Typhoon Chanchu came ashore on the Southern coast of the Chinese mainland early this morning, May 18, local time. The powerful storm, packing winds in excess of 100 mph (168 kph), has reportedly caused 11 deaths and...
A.M. Best Details Catastrophe Stress Test Criteria
May 18 2006 // A.M. Best Co. has published an outline of the criteria it looks for when evaluating the strength of an insurance company’s catastrophe risk management. Last month, A.M. Best hosted a conference call on the recent...
Insurance Economist Predicts Profitable 2006, Sees Premium Growth Grinding to a Halt
May 18 2006 // The last 24 months have been traumatic for the insurance industry, but the profit picture for 2006 is quite good overall, according to Robert P. Hartwig, Insurance Information Institute senior vice president and chief...
Florida Certifies Hurricane Model for the Tenth Consecutive Year
May 17 2006 // The Florida Commission on Hurricane Loss Projection Methodology has certified AIR Worldwide Corp.’s 2006 Hurricane Model. This marks the tenth consecutive year that AIR has met the rigorous standards of the...
Tropical Depression: Hurricane Linked to Long-Term Mental Distress
May 17 2006 // Florida State University sociologists in Tallahassee have found that some South Floridians who survived 1992’s Hurricane Andrew suffered mental health problems many years later, a finding that has led the researchers...
La. Bill Would Extend Time to File Hurricane Insurance Lawsuits
May 17 2006 // Addressing a looming insurance deadline that could affect thousands of homeowners and businesses, the Louisiana House of Representatives passed a bill to give insurance claimants an extra year to file a lawsuit over...
Complaints Lead to Probe of La. Insurers’ Hurricane Claims Handling
May 17 2006 // Lousiana Commissioner of Insurance Jim Donelon announced the Department of Insurance is set to begin market conduct examinations on two insurers, Allstate and St. Paul/Travelers. Donelon said he ordered the exams in...
China’s P&C Insurer Licenses AIR’s Quake Cat Models
May 17 2006 // Boston-based AIR Worldwide Corporation announced that China’s PICC Property and Casualty Company Limited has licensed CLASIC/2™ and CATRADER®, AIR’s catastrophe risk management systems, to manage the...
Fla. Hurricane Commission Reviews, Re-Certifies Residential Model
May 17 2006 // The Florida Commission on Hurricane Loss Projection Methodology has re-certified the Risk Management Solutions Hurricane model for use in establishing residential insurance rates in Florida. This year’s review...
RMS Partners With China Earthquake Administration’s Institute of Engineering Mechanics to Develop China Earthquake Risk
May 16 2006 // Newark, Calif.-based Risk Management Solutions (RMS) has formed a partnership with the China Earthquake Administration scientific and engineering arm, the Institute of Engineering Mechanics (IEM). “This partnership...
AccuWeather Predicts Six Hurricanes Will Make Landfall
May 16 2006 // The AccuWeather.com Hurricane Center in State College, Pa. led by Chief Forecaster Joe Bastardi, has released its 2006 hurricane season forecast. An active hurricane season appears imminent, which could have major...
Citizens Property Insurance Increases Upset Policyholders in Florida
May 15 2006 // Marci L. Rose’s home and rental properties in Key West, Fla. escaped serious damage when hurricanes battered the state in 2004 and 2005, but she might lose them anyway. Like thousands of Floridians, the real estate...
Royal Palm to Offer Coverage to Allstate Floridian Customers
May 15 2006 // St. Petersburg, Fla.-based Allstate Floridian has reached an agreement with Royal Palm Insurance Co., a new property insurer in the state, to offer Allstate Floridian customers and Florida consumers property insurance...
Texas Regulators Urge Coastal Residents to Review Insurance Coverages
May 12 2006 // As hurricane season approaches, officials at the Texas Department of Insurance are reminding all Gulf Coast home and business owners that it is important to periodically review their insurance policies to ensure that...
Three Dead in North Texas Tornado
May 11 2006 // Late-night tornadoes swept through rural North Texas on May 9, killing three people, hospitalizing 10 and reducing homes to bare concrete slabs, officials said. An elderly couple were found dead in a destroyed home in the...
