Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
ABI Study Finds “Extreme Weather” Could Raise Losses to $27 Billion
Jun 30 2005 // The Association of British Insurers (ABI) has released a ground-breaking report, “Financial Risks of Climate Change,” which shows that the worldwide costs of major storms is likely to increase by as much as...
Treasury Report Opposes Renewal of Terrorism Risk Insurance Act
Jun 30 2005 // The Treasury Department on June 30 released a long-awaited report on the Terrorism Risk Insurance Act of 2002 that concludes the act should not be renewed by Congress in its current form. The report finds that TRIA has...
Treasury Report on Terrorism Insurance: Exec Summary
Jun 30 2005 // The following is the Introduction and the Executive Summary of the June 30, 2005 report from the Treasury Department on the Terrorism Risk Insurance Act of 2002 including its assessment of the act and recommendations for...
Businesses Hit Treasury Terrorism Insurance Report
Jun 30 2005 // The business lobby, Coalition to Insure Against Terrorism, is blasting as “flawed” and illogical the Treasury Department’s report recommending against renewal of the federal Terrorism Risk Insurance Act...
UF Study Shows Fla. Homes Built After 2002 Sustained Less Damage in Hurricane Winds
Jun 29 2005 // Homes built under the Florida Building Code that became effective in 2002 sustained less damage on average than those built between 1994 and 2001 under the Standard Building Code according to a University of Florida study...
China’s PICC Uses AIR Model for Earthquake Risk Analysis
Jun 28 2005 // AIR Worldwide Corporation has announced that China’s PICC Property and Casualty Company Limited has completed the first earthquake risk analysis using AIR’s China earthquake model. Guy Carpenter coordinated the...
June Hailstorms Total $18 Million in N.D. Insured Damages
Jun 28 2005 // North Dakota Insurance Commissioner Jim Poolman reported that severe weather that ripped through the Dickinson area in Western North Dakota and the Langdon and Walhalla areas in Eastern North Dakota earlier this month has...
AIG Private Client Group Launches Mobile Wildfire Protection Unit for Calif. Policyholders
Jun 28 2005 // AIG Private Client Group, a division of the property and casualty insurance subsidiaries of American International Group Inc. (AIG), announced the creation and deployment of its Wildfire Protection Unit, the first mobile...
Firefighters Gain Against Southern California Wildfires
Jun 27 2005 // The worst danger from California’s first major wildfires of the season seemed to have subsided Friday, but officials said the blazes should serve as a reminder of what’s to come in the region, where heavy...
Liberty Mutual Expands Home Replacement Cost Coverage for Calif. Catastrophe Victims
Jun 24 2005 // When this year’s wildfires rage across California, will a home insurance policy be enough to pay to repair or rebuild a damaged house? Maybe … but maybe not. Yet some California homeowners are less concerned...
FAAI Conference Speaker: Rep. Bense Congratulates Fla. Agents
Jun 24 2005 // Rep. Allan G. Bense, (R-Panama City) Speaker of the Florida House of Representatives, and one of the most influential political figures in Florida, congratulated insurance companies, agents and claims personnel for their...
Arizona Wildfire Grows; Firefighters Gaining on California Blaze That Destroyed 6 Homes
Jun 23 2005 // A number of multimillion-dollar homes were in danger of falling Thursday in Arizona as firefighters for another day did battle with a wildfire that was threatening an area some 20 miles from Phoenix. Officials said some...
Wildfires Threaten Several Western States; Number of Homes Damaged
Jun 22 2005 // Hot temperatures and gusty winds aided several wildfires burning in a Southern California desert community and a national forest in neighboring Arizona on Wednesday, damaging a number of homes and threatening many more as...
FIC UNVEILS HURRICANE CENTRAL WEB SITE
Jun 20 2005 // The Florida Insurance Council has unveiled a new Hurricane Central Web site (www.flains.org) as the site to find reliable hurricane-related information. The site is part of the industry’s response to legislation...
HURRICANE MODEL APPROVED
Jun 20 2005 // The Florida Commission on Hurricane Loss Projection Methodology has for the ninth consecutive year certified AIR Worldwide Corporation’s 2005 U.S. Hurricane Model. The state requires hurricane models to be certified...
News Briefs
Jun 20 2005 // ALABAMA DOI Lists Insurance Providers A list of insurance companies, agencies and agents writing property insurance in coastal areas of Alabama, including Mobile and Baldwin counties became available June 13, thanks to the...
Renew TRIA Now
Jun 20 2005 // Mr. President, in 2002 I co-sponsored, and Congress passed, the Terrorism Risk Insurance Act, commonly referred to as TRIA. This important legislation provided a government backstop for the terrorism insurance market that...
PIA of Fla. Broadcasts Web-based Hurricane Panel Discussion
Jun 20 2005 // Florida’s insurance industry survived last year’s record-breaking hurricane season and is prepared to help homeowners weather what may come this year. That was the message during a recent Web broadcast carried...
Editor’s Note: A New Hurricane Season Begins
Jun 20 2005 // Tropical Storm Arlene sailed through the Gulf of Mexico, missing Texas and Louisiana, and causing minimal damage when it came ashore on June 12 in Gulf Shores, Ala. It dropped more than 5 inches of rain and had weakened to...
Allstate dropping most earthquake coverage nationwide
Jun 19 2005 // Allstate Insurance Co. says it is dropping earthquake insurance to most of its 407,000 quake customers nationwide as a part of a larger move to reduce exposure to catastrophic losses. Allstate Spokesman Mike Siemienas in...
