Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Terrorism Insurance
Dec 6 2004 // Nuts & Bolts: The AIG Companies launched LexHomeland Protector, a comprehensive terrorism insurance portfolio designed to help protect businesses against terrorism risks, including losses arising from biological and...
Fla. Lawmakers Urged: Stick to Key Issues
Dec 3 2004 // When the Florida Legislature meets in special sessions in December lawmakers should focus on the most pressing matters facing more than 1.2 million commercial and residential property owners and leave less urgent concerns...
Weather Experts Predict More Active Hurricane Seasons
Dec 3 2004 // National Hurricane Center forecasters warn that a trend toward greater numbers of storms and stronger storms may last for years. If they’re right, the southeast United States could suffer through many more vicious...
Senate Banking, Insurance Committee Hears Fla. Insurance Perspectives
Dec 2 2004 // The Senate Banking and Insurance Committee heard state insurance regulators and insurance industry perspectives on eliminating hurricane deductibles and reforming the state’s Hurricane Catastrophe Fund during...
Gov. Bush Urges Fla. Legislators to Discuss Multiple Deductibles, Repair Work
Dec 1 2004 // Florida Gov. Jeb Bush vowed to urge the Florida Legislature, during upcoming sessions before Christmas, to solve citizens concerns about multiple insurance deductibles, repair work and property taxes. The governor visited...
S&P Reports First Half Results in Japan’s P/C Sector Show Companies Still Under Pressure
Nov 30 2004 // Standard & Poor’s Ratings Services has issued a report noting that Japanese non-life insurance companies recently released results of for the first half of fiscal 2004, which indicate that underwriting...
Floridians Can Anticipate State-wide Premium Hikes
Nov 30 2004 // Florida homeowners can expect an 8.3 percent statewide increase in the cost of homeowner’s insurance, Bob Lotane, spokesman for the Florida Office of Insurance Regulation told the Bonita News. He said worst-hit areas...
FEMA Notes Record Aid for 2004 Hurricane Season
Nov 30 2004 // The U.S. Department of Homeland Security’s Federal Emergency Management Agency (FEMA) reported this week that a record $4.27 billion in FEMA disaster funds have been expended to date to aid people and communities...
Swiss Re Hurricane Report Stresses Risk Analysis
Nov 23 2004 // Swiss Re’s recently issued report on the 2004 hurricane season stresses that, although the number of storms may have been extraordinary, “the impact on insurers has been controllable through a process of...
Okla. Approves NCCI Values for Terrorism, Catastrophes
Nov 22 2004 // Oklahoma’s State Board for Property and Casualty Rates announced its approval of NCCI’s Item B-1393—Miscellaneous Values for Domestic Terrorism, Earthquakes, and Catastrophic Industrial Accidents. The purpose...
Information Institute Data Shows 2004 Hurricanes Broke All Records
Nov 22 2004 // Newly released information ranks all four of this season’s hurricanes among the top 10 costliest U.S. hurricanes in the past 25 years. And, taken together, the cost of this season’s storms edges out the cost of...
Hurricane Spitzer to Take London by Storm
Nov 22 2004 // QUOTE:This will impact every underwriter in Lloyd’s and most in London, given the distribution chain they inhabit. There’s still some sense of disbelief here in London at the moment. Hurricane Spitzer seems to...
2004 HURRICANE SEASON NOT SO UNUSUAL AFTER ALL:
Nov 22 2004 // According to an analysis conducted by AIR Worldwide (AIR), a risk modeling company, the 2004 hurricane season should not be considered rare. The analysis, based on the AIR hurricane model, revealed that insurers should...
The Hartford Purchases Collateralized CAT Reinsurance From Foundation Re
Nov 19 2004 // The Hartford Financial Services Group Inc. has acquired $247.5 million of multi-year, collateralized catastrophe reinsurance from Foundation Re Ltd., a Cayman Island reinsurance company. The new reinsurance coverage is...
Six N.C. Homeowners Dispute Denial of Hurricane Ivan Damage Claims
Nov 19 2004 // Six residents in Peeks Creek, N.C. where four people died in a Hurricane Ivan-triggered landslide have hired lawyers to represent them after being denied insurance claims. Fifteen houses were damaged or destroyed in Peeks...
Zurich Posts 35% Increase in Nine Month Net Income
Nov 17 2004 // Zurich Financial Services reported a 35 percent increase in its net income for the first nine months of 2004 to $1.902 billion, compared to $1.41 billion in the same period of 2003, despite the impact of the Florida...
La. DOI Final Estimate of Hurricane Ivan Damages Totals Nearly $7.9 Million
Nov 17 2004 // Commissioner of Insurance Robert Wooley announced that the Louisiana Department of Insurance’s final estimate of Hurricane Ivan damage in Louisiana is $7,868,750.00. That figure is based on a reported 3,760 claims...
Nationwide Estimates Florida Hurricane Losses at $850 Million Pre-Tax
Nov 15 2004 // Ohio-based Nationwide Mutual Insurance Company and its P/C affiliates have issued an estimate of the losses and loss adjustment expenses from Hurricanes Charley, Frances, Ivan, and Jeanne of approximately $850 million on a...
Hannover Re Hit by Q3 Cat Losses; 9-month Operating Profit Down 18.1 % to $527 Million
Nov 12 2004 // Germany’s Hannover Re – ranked by Standard & Poor’s as the world’s fifth largest reinsurer – announced third quarter earnings that were heavily impacted by the Florida hurricanes and...
CFO Gives Hurricane Response Status Report; Fla. Mediation Begins Nov. 22
Nov 12 2004 // Following a recent emergency rule setting deadlines for processing claims there have been almost 17 percent fewer calls from consumers experiencing delays when dealing with an adjuster, according to the Florida Department...
