Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
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...
Risk Management Solutions Predicts Hurricane Activity to Increase Losses by 40 Percent in Florida and Gulf Coast
Mar 23 2006 // Risk Management Solutions, Newark, Calif., expects increases in hurricane landfall frequencies will increase modeled annualized insurance losses by 40 percent on average across the Gulf Coast, Florida and the Southeast,...
Coalition Supports SB98/HB 279 to Protect Fla. CAT Fund
Mar 23 2006 // A coalition of insurance organizations, bankers, realtors and home builders are petitioning state lawmakers to support SB 98/HB 279 an effort by Sen. J. D. Alexander and Rep. Kim Berfield to protect Florida’s...
Aon/Albert G. Ruben Map Details Risks to Overseas Filmmaking
Mar 23 2006 // “Disease, kidnap and ransom, and terrorism risks pose the greatest threat to global filmmaking,” according to the 2006 Risks in Global Filmmaking Map published today by Aon/Albert G. Ruben. Aon’s bulletin...
La. Commissioner Working to Generate Cat Bond Funding for State
Mar 23 2006 // The Louisiana Department of Insurance reported that Commissioner of Insurance Jim Donelon was invited to meet with the nation’s largest bond insurers and bond rating agencies in New York recently in a continued...
Aon Re Issues Global Study on Customer Catastrophe Segmentation
Mar 22 2006 // Aon Re Inc. has published the results of a study of companies that have implemented more sophisticated customer segmentation strategies over the past few years. The report concludes that overall returns for the personal...
Fla. Lawmaker Pushes Hurricane Insurance Surcharges for Vacation Homes
Mar 22 2006 // Owners of vacation and second homes would be slapped with a 25 percent surcharge on policies obtained from the state’s insurer of last resort under a proposal unveiled by a Senate committee chairman. That’s one...
Texas Governor Issues Order on Hurricane Evacuation Procedures
Mar 22 2006 // Texas Gov. Rick Perry issued an executive order that implements most of the recommendations of the Task Force on Evacuation Transportation and Logistics. “Our goal is to learn from the lessons that Hurricane Rita...
Volunteer Helping in Hurricane-Damaged Home Finds $30K
Mar 22 2006 // A college student was spending her spring break cleaning out hurricane-damaged homes in New Orleans when she discovered some unusual papers among the moldy plasterboard and debris, the Associated Press reported. “I...
Hartford Selects Peril Model to Set Pricing for Catastrophe Bonds
Mar 22 2006 // Risk Management Solutions, a provider of products and services for the management of natural hazard risk, said recently that its independent risk analysis of securitized collateral has enabled Hartford Fire Insurance...
Alabama Residents Fear the Worst, Prepare for Next Hurricane Season
Mar 22 2006 // A survey of residents in Alabama’s two coastal counties found many expect this hurricane season will be as bad or worse than last year, and they are making preparations, including buying generators. Forty percent of...
‘Long Overdue’ Northeast Warned to Prepare for ‘Historic’ Weather Disaster This Year
Mar 22 2006 // The northeast U.S. coast could be the target of a major hurricane, perhaps as early as this season, according to the AccuWeather.com Hurricane Center. The weather experts say this year could bring the Northeast a storm...
Officials Hope ’06 Quake Centennial Prompts More to Get Insurance
Mar 20 2006 // When San Francisco resident Charlie Bott got an offer in the mail recently for earthquake insurance, he stared long and hard at the bottom line. Then he threw it away. “It was way beyond anything you pay for house...
$1.5B paid on more than 180K Rita claims
Mar 20 2006 // The Insurance Council of Texas reported that insurance companies have settled 90 percent of property claims in Texas that resulted from the devastation caused by Hurricane Rita that struck in late September 2005. According...
72 days and counting until 2006 hurricane season
Mar 20 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...
New Lloyd’s Policy Wording Covers Terrorist ‘Piracy’
Mar 20 2006 // As the oldest marine insurer in the world, Lloyd’s has long been aware of the menace pirates pose to shipping. These days, however, they aren’t the “Yo, ho, ho and a bottle of rum” kind of pirates,...
Cat Commercial Product Launched in Southeast States
Mar 20 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)...
