Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Legislators hear insurance industry’s resounding voice after the storm
Mar 20 2006 // Sound, up-to-date and successful building codes are essential for construction, but codes must also be enforced and continuously updated to effectively contribute to disaster mitigation, said Leonard C. Brevik, National...
Fla. Insurance Council to push mitigation efforts
Mar 19 2006 // FIC supports efforts to strengthen the Florida Uniform Statewide Building Code by requiring shutters, impact-resistant glass or other opening protections on all new construction where winds of 120 miles or greater have...
RMS CEO sees bigger catastrophe losses
Mar 19 2006 // Speaking at the World Insurance Forum in Bermuda, Hemant Shah, Risk Management Solutions CEO, warned that insurers should be preparing to increase their reserves for catastrophe losses, not only due to the unprecedented...
News Currents
Mar 19 2006 // Berkshire’s Buffett still high on insurance despite catastrophe risk Gen Re misfortunes overcome by Geico’s stellar performance, Buffett says Warren E. Buffett, the billionaire chairman of giant Berkshire...
SPECIAL REPORT: Surplus Lines
Mar 19 2006 // Earthquakes, floods and wildfires oh my! Solid disaster recovery plan keeps surplus lines brokerage firm afloat in New Orleans In the wake of Hurricane Katrina, the New Orleans area office of Crump Insurance Services was...
W.Va. Commissioner Cline Tells Big ‘I’ about Fraud Unit’s status; group hears catastrophe tips
Mar 19 2006 // David Daniel gives tips about how independent agents can prepare for disasters. The Insurance Commission’s status was discussed by Commissioner Jane Cline, and J. David Daniel, a member of the Big “I”...
National Council of Insurance Legislators
Mar 19 2006 // Panelists agreed unanimously that uniform statewide building codes are necessary to have everyone prepared for hurricanes and that local building departments had to enforce stronger codes. Up-to-date building codes,...
Editor’s Note: 72 days and counting until
Mar 19 2006 // Legislators are meeting across the Southeast to discuss a wide variety of insurance issues: Proposals in Florida would designate hurricane tax revenue to help pay for hurricane repairs; there are a dozen proposals in...
Cat Bonds Becoming a Common Alternative to Reinsurance, S&P Says
Mar 17 2006 // The insurance industry is turning more frequently to catastrophe bonds, according to an article titled “Catastrophe Bonds: Assessing A Risky Business,” which was published by Standard & Poor’s...
Judges in New Orleans Trying to Fast Track Hurricane Lawsuits
Mar 17 2006 // Civil courts in New Orleans, La., have begun trying to speed up storm-related lawsuits – many of them against insurance companies – that deal with who should pay for property damages caused by hurricanes...
Insurers Seek to Boost Hurricane Insurance Along Texas Coast
Mar 16 2006 // Texas insurers are seeking state approval of a plan to bolster a windstorm insurance pool for coastal property owners at risk during hurricane season. The industry wants the Legislature to approve $800 million in bonds to...
AIG Issues 2005 Annual Report; Net Income for Year was $10.48B
Mar 16 2006 // American International Group Inc. (AIG) has filed its Annual Report on Form 10-K for the year ended Dec. 31, 2005 with the Securities and Exchange Commission. Net income for the full year 2005 was $10.48 billion or $3.99...
ICAT, National Fire and Marine Launch New Catastrophe Product
Mar 16 2006 // In response to unmet capacity needs created by the devastating natural disasters of 2005, International Catastrophe Insurance Managers, LLC (ICAT), and National Fire and Marine Insurance Company (Berkshire Hathaway Group)...
Dale Reports Miss. Insurers Have Made Solid Progress
Mar 15 2006 // A report in Jackson, Miss. by Insurance Commissioner George Dale shows that six months after Hurricane Katrina struck a devastating blow to the Gulf Coast, major insurers have made solid progress and are committed to...
Hiscox Weathers Hurricanes, But 2005 Profits Decrease
Mar 14 2006 // Hiscox Plc, the U.K.-based Lloyd’s and specialty insurer, released its 2005 preliminary results on Monday, March 13. Although Hiscox was one of many companies whose earnings were adversely affected by last...
UPDATE: Insurers Tally Storm Damage to Auto, Property in Midwest
Mar 14 2006 // Insurance companies in the Midwest are beginning to tally claims connected to hundreds of tornadoes and severe storms that hit a five state region in the Midwest late Saturday and early Sunday. Illinois, Indiana, Missouri,...
Texas Responds to Deadly Wildfires in the Panhandle
Mar 14 2006 // Gov. Rick Perry said Texas is leading a coordinated effort to battle deadly blazes that have swept through the Texas Panhandle, burning about 663,000 acres and leaving at least 11 people dead. The Tradewind Aircraft...
Dale to Speak in Memphis About Hurricane Katrina
Mar 14 2006 // The trials and tribulations encountered after Hurricane Katrina will be discussed by Mississippi Commissioner of Insurance George Dale, the featured speaker during the Thursday, March 16 monthly meeting of the Independent...
Regulators Establish Task Force on Climate Change
Mar 14 2006 // The National Association of Insurance Commissioners (NAIC) voted unanimously last week at its quarterly meeting in Orlando, Fla., to establish a task force to examine the impact of climate change on the U.S. insurance...
Aon Study Reveals Investors More Intolerant of Catastrophe Risk
Mar 14 2006 // Aon Re Global announced today that it has produced research on the impact of earnings volatility on shareholder value for insurers and reinsurers. Hurricane Katrina and the entire hurricane season provided an interesting...
