Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
AXIS Says Hurricane Katrina Losses ‘Within Current Expectations’
Sep 12 2005 // Bermuda-based AXIS Capital Holdings Limited gave no figures for its estimated net losses from Hurricane Katrina, but indicated that they “are estimated to be within its current expectations of consolidated operating...
Best Comments on Katrina’s Impact on the Global Reinsurance Industry
Sep 12 2005 // As the Reinsurance Rendezvous opens in Monte Carlo, A.M. Best Co. has issued a comment on the possible impact of Hurricane Katrina on the global insurance industry. Many of the biggest European companies – Munich Re...
S&P Puts 10 Insurers on “Katrina” CreditWatch/Negative
Sep 12 2005 // Standard & Poor’s Ratings Services announced that it has placed its ratings on 10 interactively rated insurance and reinsurance groups on CreditWatch with negative implications due to their possible...
Lethal Typhoon Khanun Hits Northeast China; Nine Deaths Reported
Sep 12 2005 // At least nine people have lost their lives, many more are injured or missing, and more than one million have been evacuated as Typhoon Khanun lashed China’s Zheijang province with high winds and torrential rains. The...
Adjusters Prowl Through Miss. Coast Shambles; Television Reports Called an ‘Understatement’
Sep 12 2005 // Insurance adjusters now trudging through the rubble along the Mississippi coast report they have never seen such massive destruction: houses totally demolished, businesses destroyed and especially heavy damage in...
Big ‘I’ CEO Panel Addresses Disaster Preparedness, Future of TRIA
Sep 12 2005 // The insurance industry is hoping that a federal case will be made out of disaster preparedness and response following the devastation of Hurricane Katrina. As their claims adjusters and agents scurried to handle the record...
LDI Web Site a Primary Source for Hurricane Katrina Recovery Information
Sep 12 2005 // The Louisiana Department of Insurance is updating daily important information regarding recovery from Hurricane Katrina, including company contact information, on the department’s Web site at...
Hurricane Ophelia Hits 85 mph, Stationary Off S.C., N.C.
Sep 10 2005 // Hurricane Ophelia has gained strength, with hurricane-force winds of 85 mph with higher gusts and is expected to make landfall along the southeast Atlantic coast Sunday evening or Monday–but the National Hurricane...
Aspen Estimates Katrina-New Orleans Flood Losses at $150 Million
Sep 9 2005 // Bermuda-based Aspen Insurance Holdings Limited announced its initial assessment of the losses sustained from Hurricane Katrina and the “Great New Orleans Flood” would be approximately $150 million. In...
New Orleans Flood Adds $15-$25B in Hurricane Katrina Insured Losses; Total Estimated Losses Rises to $40-$60B
Sep 9 2005 // Risk Management Solutions now estimates that insured losses from Hurricane Katrina are expected to be $40-$60 billion, of which $15-$25 billion are related to the Great New Orleans Flood. Total economic losses may now...
FEMA’s Brown Being Taken Off Hurricane Katrina Operations
Sep 9 2005 // With much discussion over just how quickly and effectively the federal government responded to Hurricane Katrina recovery efforts, Federal Emergency Management Agency Director Michael Brown may be the fall guy. Brown was...
PIA of Georgia Collecting Donations for Hurricane Katrina Victims
Sep 8 2005 // The Professional Insurance Agents of Georgia are collecting donations for victims of Hurricane Katrina, which will be donated to the American Red Cross and the Salvation Army. According to Jerry W. Duke, executive vice...
New Report Warns of Rising Threat to Industry from Climate Change
Sep 8 2005 // Hurricane Katrina is a reminder to the U.S. insurance industry, companies, governments and the general public that all are at risk from escalating losses from hurricanes and other weather-related events due to climate...
State Farm Processing Over 200,000 Katrina Claims
Sep 8 2005 // State Farm, the largest insurer of homes and cars in the Gulf States, is servicing more than 223,000 property claims in Alabama, Louisiana, Mississippi and Florida in the wake of Hurricane Katrina. The number is expected...
Ophelia Eyes Florida Coast; Pair of Directions Possible
Sep 8 2005 // Despite the loss of 11 lives, residents of Florida breathed a sigh of relief late last month when Hurricane Katrina moved away from the Sunshine State with less damage than last year’s Big Four. Folks in Florida...
NHC Watching Tropical Storm Ophelia
Sep 7 2005 // Miami’s National Hurricane Center is currently tracking three tropical storms in the Atlantic, Ophelia, Maria and Nate. Only the first one poses any potential threat to the U.S. mainland. At 5 a.m. EDT, The center of...
Conn. to Test State’s Readiness in Hurricane Drill Today
Sep 7 2005 // With this year’s hurricane season far from over, Connecticut public officials plan to test the state’s response capabilities in a hurricane drill today. Gov. M. Jodi Rell said she wants to make sure that...
Fla. Insurance Commissioner Supports National CAT Fund
Sep 7 2005 // Florida Insurance Commissioner Kevin McCarty said with the specter of projected hurricane losses from Hurricane Katrina topping $25 billion, he is intensifying his support for creating a national catastrophe fund and a...
Safeco Launches Special Relief Effort in Response to Hurricane Katrina
Sep 7 2005 // Safeco has launched a special disaster-relief effort to deliver financial assistance, equipment and free support services to help independent insurance distributors recover from Hurricane Katrina. This relief effort —...
Typhoon Nabi Hits Kyushu
Sep 6 2005 // Typhoon Nabi roared ashore on Japan’s Southern Island of Kyushu. So far the storm has caused at least one confirmed death; 16 people are reported missing and 23 have reportedly been injured. Nabi is packing winds of...
