Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Mold a Threat After Hurricane Rita
Oct 19 2005 // Homeowners, renters and business owners affected by Hurricane Rita need to know that failure to remove mold and mildew properly can result in serious, long-term health problems, including asthma and other respiratory...
Wilma Forms into Hurricane, Rotating off Coast of Honduras
Oct 18 2005 // Wilma, the 21st named storm of the current season, strenthened to hurricane force today with sustained winds in excess of 75 mph (120 km/hr). The storm is still slowly rotating off the coast of Honduras, and hurricane...
Safeco Unveils Q3 Report; Hurricanes Play Major Role
Oct 18 2005 // Seattle-based Safeco reported solid third-quarter results, with net income of $101.1 million, or $0.80 per diluted share. This figure includes estimated after-tax net catastrophe losses of $115.8 million, or $0.91 per...
UPDATE: Wilma Gains Hurricane Status; U.S. Gulf Keeps Watch
Oct 18 2005 // Gaining a better defined center, Tropical Storm Wilma strengthened into a hurricane Tuesday on a path that could pose a threat to Florida by the weekend. At 11 a.m. EDT, Wilma had top sustained winds of near 75...
A.M. Best: P/C Insurers Report Strong Gains for First Half of 2005
Oct 17 2005 // The U.S. property/casualty industry recorded an underwriting profit of $13.2 billion during the first six months of 2005, a substantial gain from the record results posted during the comparable period of 2004, according to...
Fitch Utilizing AIR Worldwide’s CAT Models for Industry Capital Analysis
Oct 17 2005 // To help assess the capital adequacy and financial strength of insurance companies in North America and Europe, Fitch Ratings now utilizes AIR Worldwide’s (AIR) catastrophe risk management systems to assist in...
Transatlantic Updates Q3 Losses
Oct 17 2005 // Transatlantic Holdings Inc. announced that its preliminary estimate of pre-tax cost, net of reinsurance, related to Hurricane Rita approximates $50 million, or $33 million on an after-tax basis for the full year of...
Continuing Battle against Wildfires Fuels Need for Insurance
Oct 17 2005 // As firefighters battled into last week trying to contain one of a number of brush fires in the Los Angeles area, residents throughout California are keeping a close eye on weather conditions and their insurance policies,...
PIA of Fla. Answers Hurricane Planning Questions
Oct 17 2005 // Forty key catastrophic planning questions and answers were presented by Ron Silverman, a Professional Insurance Agents of Florida instructor and owner of Silverman Insurance Agency in Deltona Beach, Fla., during...
Editor’s Note: A Silver Lining?
Oct 17 2005 // The terrorist attacks of Sept. 11, 2001, the tsunami of December 2004, Katrina, Rita, the October 2005 earthquake in Pakistan/India. What can we make of all these man-made and natural catastrophes? They are bigger than...
News Briefs
Oct 17 2005 // Arkansas Employment up in Ark. A recent report from the Federal Deposit Insurance Corp. showed that employment in Ar-kansas is at a high point-1.1734million-but warned that hurricane refugees could strain state...
Dual Hurricanes Blew in Big Problems for Agribusiness in Louisiana,Texas
Oct 17 2005 // In addition to the immense destruction in heavily populated urban centers and coastal communities caused by Hurricanes Katrina and Rita, which hit the Gulf Coast region in August and September 2005, agricultural interests...
As Insured Acres Increase, Are Farmers Subsidizing High-Risk States?
Oct 17 2005 // The hurricane [Katrina] produced catastrophic Broward and Miami- Dade counties in Florida. As a direct result of the Agricultural Risk Protection Act of 2000 (ARPA), more farmers are insuring their cropland. Nationwide,...
Continuing Battle against Wildfires Fuels Need for Insurance
Oct 17 2005 // As firefighters battled into last week trying to contain one of a number of brush fires in the Los Angeles area, residents throughout California are keeping a close eye on weather conditions and their insurance policies,...
Hurricane Katrina to Cost $40-$55 Billion for Privately Insured Losses
Oct 17 2005 // Hurricane Katrina is expected to result in $40 to $55 billion in private insurance payments, according to a new white paper developed by the Tillinghast and Reinsurance businesses of Towers Perrin. “Hurricane...
News Briefs
Oct 17 2005 // Katrina Churns in $34.4B in Losses: Hurricane Katrina is expected to cost U.S. property/casualty insurers an estimated $34.4 billion in insured property losses, making it the costliest U.S. catastrophe ever, according to...
Hurricane Watch Issued for Cayman Islands; Storm May Impact U.S.
Oct 16 2005 // After a slight lull in the Atlantic hurricane season, things may be heating up again. A hurricane watch was in effect for the Cayman Islands as a tropical depression churned through the Atlantic on a path that may threaten...
Cincinnati Financial Lost $3 Mil on Rita
Oct 14 2005 // Cincinnati Financial Corporation today announced an estimate of $3 million for pretax catastrophe losses resulting from Hurricane Rita and updated its estimates of previously announced catastrophe losses. Total...
La.’s Hibernia Corp. Warns of Hurricane-Related Costs
Oct 14 2005 // Hibernia Corp., a Louisiana-based banking company trying to complete its $5 billion acquisition by Capital One Financial Corp., warned it faces substantial costs and financial uncertainties stemming from Hurricane...
Jobless Claims in La. Reach Historic Levels After Hurricanes
Oct 14 2005 // The Louisiana Department of Labor reported it has paid out more than $3 million in Unemployment Insurance and Disaster Unemployment Assistance benefits to victims of Hurricane Rita, while Katrina claims have topped $181...
