Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Swiss Re Reviews 2005, Takes Look Ahead at Upcoming Industry Year
Dec 14 2005 // Andreas Beerli, CEO of Swiss Re’s Property & Casualty business in the Americas, recently hosted the company’s annual year-end economic and insurance industry review and outlook and led the discussion about...
Calif. Unprepared for Tsunami
Dec 13 2005 // Tsunami waves generated by a large offshore earthquake would threaten at least 1 million coastal residents in California and inundate the nation’s largest port complex, according to a new report. The study, released...
California Catastrophe Coalition Formed
Dec 13 2005 // James Lee Witt, former FEMA Director and co-chair of ProtectingAmerica.org, and Admiral James M. Loy, former Deputy Secretary of the U.S. Department of Homeland Security, have announced the formation of...
Mississippi’s Insured Losses From Hurricane Katrina Pegged At $12B
Dec 13 2005 // Insurers in Mississippi are expected to pay out $12 billion in insured losses stemming from Hurricane Katrina. According to Property Claims Services, the New Jersey-based subsidiary of the Insurance Service Office, which...
Texas ‘Victims’ Plead Guilty for Making False Hurricane Katrina Claims
Dec 13 2005 // Two McLennan County, Texas women, apprehended after they claimed to be victims of Hurricane Katrina and attempted to obtain federal emergency benefits, have pleaded guilty to filing false, fictitious or fraudulent claims...
American National Reports After-Tax Katrina Loss of Nearly $80M
Dec 13 2005 // Texas-based American National Insurance Company reported that its subsidiary property and casualty companies, including American National Property and Casualty (ANPAC) and ANPAC Louisiana Insurance Company and their...
Insurers Say No to State Catastrophe Fund in New York
Dec 13 2005 // A state-mandated catastrophe fund is not needed in New York, according to the American Insurance Association (AIA). “The creation of a catastrophe fund in New York State is not warranted. The creation of such a fund...
Insurance Dept. Approved Miss. Homeowners Rate Increases Before Hurricane Katrina
Dec 12 2005 // Recent increased in homeowners insurance rates in south Mississippi can not be attributed to Hurricane Katrina, according to Insurance Department officials, who indicate that Allstate, USAA and the Southern Farm Bureau all...
Hurricane Katrina: The Long Road to Recovery
Dec 12 2005 // With Gulf Coast residents and the insurance industry trying to recover from the country’s worst natural disaster ever, two Insurance Journal reporters set out to see for themselves the effects of Hurricane...
PIA of La. Resolutions Seek Hurricane Relief Assistance
Dec 12 2005 // Thanking insurance carriers on behalf of Louisiana insurance agents and the policyholders they represent for the carriers’ hard work and assistance in the aftermath of Hurricanes Katrina and Rita, the Professional...
Hawaii Recognized as First State to be Tsunami and Storm Ready
Dec 12 2005 // The National Weather Service has declared Hawaii the first state in the nation to be both tsunami- and storm-ready. “This is an important accomplishment for the state and it shows the leadership of the local civic...
Many Missourians in Need of Earthquake Insurance, Officials Report
Dec 12 2005 // Barely four out of every 10 Missouri homeowners carry earthquake insurance, a cause of concern cited Friday as Gov. Matt Blunt heard briefings on the state’s earthquake preparations. Blunt held a closed-door Cabinet...
Insurer Downgrades Possible Without Terrorism Insurance Renewal
Dec 9 2005 // An article published by Standard Poor’s Ratings Services stated that if Congress fails to renew or extend the Terrorism Risk Insurance Act (TRIA), the commercial lines property/casualty insurance sector will be...
Hurricane Wilma Reduced Fla. Orange Growers Production
Dec 9 2005 // Hurricane Wilma darkened the outlook for Florida orange growers, reducing production estimates by 15 percent, the Agriculture Department said. Still, this year’s crop will outdo last year’s by about 8 percent...
Colorado State Experts Predict 17 Named Atlantic Tropical Storms, Nine Hurricanes in 2006
Dec 8 2005 // Predictions of 17 named storms in the Atlantic basin next year, with nine developing into hurricanes, have been predicted by William Gray and Philip Klotzbach of Colorado State University. The experts forecast five major...
Regulators Hear Industry Concerns on National Insurance Catastrophe Plan
Dec 8 2005 // A new draft of the proposed national insurance catastrophe Plan created by the National Association of Insurance Commissioners was aired at the NAIC Winter Meeting. Some of the elements in the draft raised the ire of...
Fitch Reviews U.S. Insurance Industry in 2005; Looks Ahead to 2006
Dec 8 2005 // The U.S. property/casualty insurance industry encountered deja vu in this past year, reported Fitch Ratings in its annual 2005 Review and 2006 Outlook for the U.S. insurance industry. The ratings agency says 2005 mirrored...
House Floor Vote on Terrorism Insurance Expected Today
Dec 7 2005 // Legislation that would extend the federal terrorism insurance backstop through 2007 is likely to be considered by the full U.S. House of Representatives this afternoon. TRIA, passed a year after the attacks of Sept. 11,...
House of Representatives Passes Terrorism Insurance Bill
Dec 7 2005 // Legislation that will extend the 2002 Terrorism Risk Insurance Act for an additional two years passed on the House of Representatives floor today. The House bill (S. 467) passed by a vote of 371 to 49. The Senate already...
Aspen Updates Losses from Hurricanes Katrina, Rita and Wilma
Dec 6 2005 // Bermuda-based Aspen Insurance Holdings Limited has updated its assessment of estimated losses from Hurricanes Katrina, Rita and Wilma. Based on the information available and evaluations to date, Aspen estimates that its...
