Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
PIA Texas Expresses Support for Windstorm Bonds
Mar 31 2006 // The Texas Insurance Professionals (PIA Texas) association reported that it has addressed a letter to Texas Gov. Rick Perry in support of the proposal that the state authorize the sale of $800 million in bonds in order to...
Actuaries Estimate Cost of Terrorist Attacks on Cities; N.Y. at $778 Billion; D.C. at $196.8 Billion
Mar 31 2006 // The American Academy of Actuaries disclosed that a future large terrorist attack in New York City could result in $778 billion in insured losses. Speaking at the National Association of Insurance Commissioners public...
Liberty Mutual CEO Advocates Long-Term Terrorism Insurance Plan
Mar 31 2006 // Declaring the Terrorism Risk Insurance Act (TRIA) “an essential policyholder protection,” Edmund F. (Ted) Kelly, Liberty Mutual Group chairman, president and CEO, this week urged the National Association of...
Okla. Agent Allegedly Fails to Remit Tornado Victims’ Premiums
Mar 31 2006 // The Oklahoma Insurance Department suspended a Locust Grove, Okla., insurance agent’s license for failing to send in premium payments for several victims of this month’s tornado in Delaware County, the...
Texas Joint Committee on Windstorm Coverage Selected
Mar 30 2006 // Texas Lieutenant Governor David Dewhurst and Speaker Tom Craddick recently released the names of Senate and House of Representatives appointees to the Joint Select Committee on Windstorm Coverage. The Joint Select...
Agents Call for Long-Term Terrorism Insurance Solution
Mar 29 2006 // The nation’s largest insurance association called today for the creation of an effective, long-term mechanism to manage the unique risk posed by terrorist attacks. Independent insurance agent Sharon Emek, Ph.D., CIC,...
Lloyd’s Pleased with Firms 2005 Results Despite Hurricanes
Mar 29 2006 // Ewan Gilmour, Chief Executive of the U.K.’s Chaucer insurance group and Lloyd’s Deputy Chairman, issued a statement praising the market’s underwriters for delivering a series of good results, following...
New Officers Elected for Texas Windstorm Association, FAIR Plan
Mar 29 2006 // The Texas Windstorm Insurance Association and Texas FAIR Plan Association have elected new officers for 2006. Elected were: chairman, James Elbert, owner of Elbert Insurance Agency in Lake Jackson, Texas; vice chairman,...
Gov. Sanford Says S.C. Must Heed Katrina Wake-Up Call
Mar 29 2006 // After the thousands of deaths and billions of dollars in damage from last year’s record hurricane season, emergency planners must “imagine the unimaginable” in preparing for a storms, South Carolina Gov....
Aon Global Market Property Tracker Shows Rates Still Falling
Mar 28 2006 // According to Aon’s first “Global Market Property Tracker” the “slide in international property insurance rates” appears to be continuing despite “a number of terrorism incidents around...
Racicot Comments: Miss. Lawsuit Overshadows Katrina Recovery
Mar 28 2006 // The unprecedented devastation along the Mississippi Gulf Coast wrought by Hurricane Katrina has prompted an outpouring of public and private resources to communities and individuals who have lost everything, Governor Marc...
Fitch: Deterioration in Profits For U.S. P/C Sector At YE2005
Mar 28 2006 // The U.S. property/casualty insurance industry will report deterioration in profitability in 2005 because insured catastrophe losses reached record levels in 2005, Fitch Ratings said. The decrease in profitability is...
Florida Lists How to Obtain Wind Insurance Incentives
Mar 28 2006 // Tips about how to obtain wind insurance incentives have been issued by the Florida Department of Financial Services on the department’s website. According to DFS, Floridians may be entitled to discounts on insurance...
Federal Judge Rejects Allstate Request to Dismiss Miss. Hurricane Lawsuit
Mar 27 2006 // A federal judge in Gulfport, Miss. has refused to throw out a lawsuit that a couple filed against Allstate Insurance Co. after the insurer refused to cover damage to their home from Hurricane Katrina. The lawsuit, filed by...
Mich. Agents Praise Catastrophic Claims Assn. for Lowering Assessment
Mar 27 2006 // The Michigan Association of Insurance Agents praised the Michigan Catastrophic Claims Association for its decision to lower its annual automobile assessment to $137.33 per vehicle, a decrease from last year’s...
California Commission Hosts Forum on Catastrophe Preparedness
Mar 27 2006 // The California Commission on Health and Safety and Workers’ Compensation is sponsoring “Forum on Catastrophe Preparedness: Partnering to Protect Workplaces” on Friday, April 7, 2006, at the South San...
Florida Website to Help Homeowners Prepare for Hurricane Season
Mar 27 2006 // Tips about how to prepare for hurricanes and tropical storms and lessen the impact of a major storm have been posted on the Florida Department of Financial Services website. According to DFS, Floridians may be entitled to...
Most Texas Insurers Profited Despite Hurricane Rita
Mar 24 2006 // Texas home insurers turned substantial profits last year despite Hurricane Rita’s destruction, prompting state regulators to question whether some companies’ rates are too high, the Associated Press...
Lloyd’s Urges Rethinking on Cat Losses
Mar 24 2006 // In a speech at the “Forces of Nature” conference in London Julian James, Lloyd’s Director of Worldwide Markets, said that the time has come for the insurance industry to rethink how it handles...
N.D. Commissioner Says Hailstorm Claims Top $105 Million
Mar 23 2006 // Claims from a July 21 hailstorm in south central and southwestern North Dakota total more than $105 million, Insurance Commissioner Jim Poolman says. “Year-end totals show that we were nearly $106 million in claims...
