Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Everest Re to Raise $280 Million; S&P Affirms Ratings
Dec 5 2005 // The Everest Re Group announced from Bermuda that it has agreed to sell approximately $280 million of its common shares to Wachovia Securities, which will subsequently offer the common shares to public investors pursuant to...
Colorado State University Review Finds 2005 Hurricane Season ‘Most Active, Destructive’ on Record
Dec 5 2005 // A list of the 2005 hurricane season’s most unique characteristics and facts has been released by Colorado State University. A CSU statement said that the just-completed hurricane season was the most active and...
America’s Actuaries: Permanent Government Role in Terrorism Insurance Necessary
Dec 5 2005 // The nation’s actuaries contend that the government must be involved if insurance for the damages caused by a terrorist strike is to be made widely available. The Terrorism Risk Insurance Act subgroup of the American...
A Hurricane in December? Epsilon Churns the Atlantic
Dec 5 2005 // The hurricane “season” is largely expected to come to a finish by the end of November, and for the Caribbean and U.S. coastal regions hopefully it has. However, Hurricane Epsilon, the 29th named storm of this...
Preparing for Worse
Dec 5 2005 // Florida has survived eight hurricanes in 15 months, but more destruction is coming, according to experts at last month’s National Catastrophe Insurance Summit in Burlingame, Calif. It’s just a matter of time,...
Experts Predict More Advances Soon in Ability to Predict Hurricanes
Dec 5 2005 // Hurricane Wilma was briefly the most intense Atlantic storm on record as it moved through the Caribbean toward the Gulf Coast. That was the last thing Gulf residents wanted to hear. Two months earlier, Hurricane Katrina...
States Claim National Catastrophe Plan Would Save Taxpayers
Dec 5 2005 // Insurance regulators from California, Florida, Illinois and New York, on the heels of last month’s National Catastrophe Insurance Summit, are peddling a national catastrophe insurance program that they say would aid...
$100 BILLION HURRICANE:
Dec 5 2005 // A major hurricane making landfall in the New York City metropolitan area would result in approximately $50 billion of insured losses with total economic losses exceeding $100 billion, according to an expert. That scenario...
States Claim National Catastrophe Plan Would Save Taxpayers
Dec 5 2005 // Insurance regulators from California, Florida, Illinois and New York, on the heels of last month’s National Catastrophe Insurance Summit, are peddling a national catastrophe insurance program that they say would aid...
Be Careful What You Wish For…
Dec 5 2005 // Last month Congress had to bail out the Federal Emergency Management Agency with an $18.5 billion loan so the agency could settle flood insurance claims for this year’s unprecedented storms. This after FEMA simply...
Experts Predict More Advances Soon in Ability to Predict Hurricanes
Dec 5 2005 // Researchers On the Verge of Predicting How Strong and Big a Hurricane Will Become Hurricane Wilma was briefly the most intense Atlantic storm on record as it moved through the Caribbean toward the Gulf Coast. That was the...
Mississippi Insurance Commissioner George Dale Serving Eighth Term
Dec 5 2005 // In public and in an interview with Insurance Journal, Misissippi Insurance Commis-sioner George Dale comes across as a laid-back Mississippi farm-boy, but the commissioner, who has been reelected for eight terms, has...
Preparing for Worst, Cat Modelers Say More Destruction Ahead
Dec 5 2005 // Florida has survived eight hurricanes in 15 months, but more destruction is coming, according to risk modeling companies and economists who spoke at the National Catastrophe Insurance Summit in Burlingame,...
No Rate Change for TWIA; Some Question Why
Dec 5 2005 // Texas Insurance Commis- sioner Mike Geeslin recently ordered residential rates for windstorm coverage from the Texas Windstorm Insurance Association to remain the same, but allowed for a 5 percent increase in commercial...
Preparing for Worse
Dec 5 2005 // Florida has survived eight hurricanes in 15 months, but more destruction is coming, according to risk modeling companies and economists who spoke at the recent National Catastrophe Insurance Summit. It’s just a...
States Urged to Prepare for Catastrophes by Enforcing Smarter Land Use
Dec 5 2005 // The country needs to better consider where and how it builds if it wants to avoid the worst effects of another Hurricane Katrina or Sept. 11 attack, according to experts at the recent National Conference of Insurance...
Insurance Commissioners Announce Framework for National Cat Program
Dec 5 2005 // Insurance regulators from California, Florida, Illinois and New York, on the heels of the National Catastrophe Insurance Summit held in November, are peddling the framework for a national catastrophe insurance program that...
SAFECO SEES AFTER-TAX LOSSES FROM WILMA AT $29 MILLION
Dec 5 2005 // Seattle-based Safeco has announced estimated after-tax catastrophe losses from Hurricane Wilma of $29 million, or $0.23 per diluted share. Pretax catastrophe losses from the storm are estimated at $45 million. Those...
Editor’s Note: Preparing for Worse
Dec 4 2005 // Florida has survived eight hurricanes in 15 months, but more destruction is coming, according to risk modeling companies and economists who spoke at the recent National Catastrophe Insurance Summit. It’s just a...
News Briefs
Dec 4 2005 // Greenberg Will Not Face Criminal Charges: Additional civil charges against former American International Group Inc. Chairman and CEO Maurice “Hank” Greenberg are possible, but no state criminal charges are...
