Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Hurricane Forecast: New Jersey To Get Hit Sooner or Later
May 9 2005 // For decades, New Jersey has been spared the wrath of major hurricanes, the storms usually veering out to sea before they can wreak havoc on the densely developed coast. But eventually the state’s luck will run out,...
Nearly Half of Large and Mid-Sized U.S. Businesses Buy Terror Coverage
May 9 2005 // Nearly half of large and mid-sized U.S. businesses obtained insurance to cover property terrorism risks during 2004, a dramatic increase from the 2003 average of 27 percent. Businesses in Boston and Washington, D.C. led...
HIGHWAY SAFETY, TERRORISM EXCLUSION HIGHLIGHT IDAHO LEG. SESSION:
May 9 2005 // Idaho’s 2005 legislative session was marked as much by what legislation was passed as by what was not passed, according to the American Insurance Association. “Idaho legislators and Gov. Dirk Kempthorne (R)...
Fla. Legislature Approves Hurricane Savings Accounts
May 5 2005 // Florida CEO Tom Gallagher affirmed that the Legislature has approved a measure laying the groundwork to enable residents to establish hurricane savings accounts and protect those accounts from creditors, but, Congress...
ICT: Texas Led Nation in Q1 Catastrophes
May 4 2005 // The Insurance Council of Texas reported that a series of thunderstorms that pummeled portions of the Hill Country and central Texas in late March resulted in Texas leading the nation in insured losses during the first...
Lloyd’s Chairman Highlights Three Important Hurricane Lessons
May 4 2005 // Three important lessons from the 2004 hurricane season were highlighted to more than 100 insurance professionals Wednesday in Miami by Lloyd’s Chairman Lord Levene, in advance of what is predicted to be another tough...
Fla. Sets Groundwork for Hurricane Savings Accounts
May 4 2005 // Florida’s Chief Financial Officer Tom Gallagher today applauded state lawmakers for approving a measure that lays the groundwork for Floridians to set up hurricane savings accounts and protect these accounts from...
Best Affirms RenRe Subs Ratings; Downgrades Credit and Debt Ratings; Removes Ratings From Review
May 3 2005 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A+” (Superior) of Renaissance Reinsurance Ltd. (RenRe Ltd.) and the financial strength ratings of “A” (Excellent) of...
AAMGA Ethics Workshop Topic: Insurance Industry Pressures
May 2 2005 // “Ethics in the Wholesale Insurance Marketplace” workshops concluded on Saturday afternoon with a round-table discussion, led by Ernest Csiszar, president of the Property and Casualty Insurance Association of...
‘Miss Piggy,’ Hurricane Center Forecasters to Visit Charleston, S.C., Jacksonville, Fla.
Apr 29 2005 // Charleston, S.C. and Jacksonville, Fla. are two of five cities NOAA National Hurricane Center forecasters and NOAA Aircraft Operations Center crew will visit during a May 2-6, five-day mission. The purpose of the tour is...
FEMA Director Defends Agency; Critics Claim Payments Slow, Exaggerated Death Benefits
Apr 29 2005 // The Federal Emergency Management Agency is being criticized in Florida for being too slow to pay counties for hurricane claims and too aggressive in paying benefits for people who died during last year’s hurricanes;...
ISO: Insurers to Pay Policyholders $2.1 Billion for Q1 Catastrophe Losses
Apr 29 2005 // U.S. property/casualty insurers are expected to pay homeowners and businesses an estimated $2.1 billion for insured property-loss claims from eight catastrophes in the first quarter, according to preliminary estimates by...
Climatologist Cautions Peach-State Residents to Be Prepared for Hurricanes
Apr 28 2005 // “The seasonal hurricane outlook should have no impact on hurricane plans,” David Stooksbury, the Georgia state climatologist cautioned the Governor’s Emergency Management Conference at the Savannah...
S. Fla. Forecaster Suggests Link Between Hurricane Behavior, May Rainfall
Apr 28 2005 // A link between the behavior of hurricanes and the amount of rain that falls in South Florida in May has been suggested by Jim Lushine, a meteorologist and weather forecaster at the National Weather Service in...
The Hartford Notes 17% Gain in Q1 Net Income
Apr 28 2005 // The Hartford Financial Services Group Inc. set a new quarterly record with net income of $666 million, or $2.21 per diluted share, in the first quarter of 2005, a 17-percent increase over the prior-year period. Net income...
PIFC Comments on Calif. Earthquake Authority’s Financial Stability
Apr 28 2005 // The following statement was released by Dan Dunmoyer, president of the Personal Insurance Federation of California, in response to comments made by California State Treasurer Phil Angelides at the California Earthquake...
Nearly Half of Large and Mid-Sized U.S. Businesses Buy Terror Coverage, Marsh Study Finds
Apr 28 2005 // Nearly half of large and mid-sized U.S. businesses obtained insurance to cover property terrorism risks during 2004, a dramatic increase from the 2003 average of 27 percent. Meanwhile, the cost of property terrorism...
EQECAT Issues U.S Hurricane Model Challenge
Apr 26 2005 // Richard Clinton, president of Oakland Calif.-based EQECAT, a leading authority on extreme-risk modeling, announced an initiative aimed at comparing its models of the 2004 hurricane events for Florida exposure against the...
Crawford & Co. Reports a Disappointing First Quarter
Apr 25 2005 // Atlanta-based Crawford & Co., a large independent provider of claims management solutions to insurance companies and self-insured entities has announced its financial results for the first quarter ended March 31,...
Simulated Exercises Teach Homeowners How to Prepare for Hurricanes
Apr 22 2005 // Widespread hurricanes have blown through several Florida cities during the past several days, and Hurricane Armando, a simulated hurricane, is expected to hit Tallahassee April 23. Florida American Red Cross and Emergency...
