Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Montpelier Re, OPIC Offer Terrorism Cover Abroad
Oct 12 2004 // Bermuda-based Montpelier Re Holdings Ltd. (NYSE – MRH) announced that its wholly owned operating subsidiaries, Montpelier Reinsurance Ltd. and Montpelier Agency Ltd., have entered into agreements with the Overseas...
FEMA Opens Hurricane Recovery Centers in N.J.
Oct 12 2004 // The Federal Emergency Management Agency (FEMA) has opened two disaster recovery centers to help people and businesses whose property was damaged last month by the remains of Hurricane Ivan and subsequent flooding in New...
CFC Tabs Jeanne Losses at About $8 Million
Oct 12 2004 // Property/casualty insurer Cincinnati Financial Corp. announced an estimate of $8 million for pretax catastrophe losses resulting from Hurricane Jeanne and updated estimates for prior storms. Including Jeanne, third-quarter...
Midland Sees Q3 Profit Despite Hurricanes
Oct 12 2004 // Cincinnati-based specialty insurer the Midland Co. projected a third-quarter profit, despite volatile weather conditions during the quarter. “We are anticipating earnings per share for the third quarter to be between...
AXIS Capital Notes Q3 Hurricane Impact
Oct 12 2004 // AXIS Capital Holdings Ltd. reported that the total estimated net after-tax impact relating to its exposure to Hurricanes Charley, Frances, Ivan and Jeanne during the third quarter is expected to be between $190 –...
Affirmative Notes Negligible Losses from Hurricanes
Oct 12 2004 // Texas-based Affirmative Insurance Holdings Inc., a provider of personal non-standard automobile insurance, has reported it has experienced negligible losses from the four hurricanes that impacted the southeastern United...
Disaster Recovery Planning Heads Report Partnership to Help Businesses Prevent Loss
Oct 12 2004 // The Institute for Business & Home Safety (IBHS) and the Global Partnership for Preparedness (GPP) have announced a partnership to pilot test a new disaster planning toolkit at the launch of the Global Partnership for...
Safeco Estimates 3Q Catastrophe Losses
Oct 12 2004 // Seattle-based Safeco announced that its aggregate pretax catastrophe losses for the third quarter are estimated at $195 million. The estimated effect on third-quarter net income is $127 million after tax, or $0.96 per...
SAFECO ESTIMATES LOSSES FROM HURRICANE FRANCES:
Oct 11 2004 // Seattle-based Safeco announced that its pretax catastrophe losses stemming from Hurricane Frances are estimated at $28 million. This figure represents the estimated losses both from claims received through Sept. 20, 2004...
Industry Pitched In After Hurricanes
Oct 11 2004 // Insurance Journal applauds the industry for its speedy reaction and assistance to assess damage and help out after hurricanes Bonnie, Charley, Ivan, and Frances tore through the southeast leaving major damage — no...
Gallagher Addresses Hurricane Victims’ Concerns of Multiple Deductibles
Oct 11 2004 // Floridians hit by four hurricanes in six weeks faced the likelihood of paying individual deductibles for each hurricane, amounting to tens of thous-ands of dollars in deductibles, until Florida’s Chief Financial...
Insurance Industry Meets Challenge As Hurricanes Tear Through Southeast
Oct 11 2004 // National and state insurance industry associations reacted speedily as hurricanes Charley, Ivan, Frances and Jeanne tore through the southeast — all four landing in Florida and continuing on to devastate states as...
CLEANUP BEGINS AFTER HURRICANE JEANNE:
Oct 11 2004 // At least six people were killed by the fourth hurricane to hit the state in six weeks. After Hurricane Jeanne came ashore in Fort Pierce, the east coast was pummeled with 120 mph winds, while by the time she crossed over...
$13 TO $15 B HURRICANE DAMAGE LOSSES ESTIMATED:
Oct 11 2004 // The triple-whammy hits of hurricanes Ivan, Frances and Charley combined probably produced about $13 billion to $15 billion in losses, according to catastrophe modeler Risk Management Solutions of Newark, Calif. The losses...
MOBILE HOMES BEAR BRUNT OF HURRICANE DAMAGE IN FLORIDA:
Oct 11 2004 // Despite improvements in construction and safety standards since Hurricane Andrew, damage to mobile homes in the paths of recent hurricanes was significant according to the Property Casualty Insurers Association of America...
HURRICANES PROVE COMMERCIAL INSURANCE’S VALUE:
Oct 11 2004 // Business owners who debate the need for insurance coverage have learned an invaluable lesson from hurricanes Charley and Frances, according to the Property Casualty Insurers Association of America (PCI). In the aftermath...
Dusk Delayed as House Takes First Step Toward Extending TRIA’s Sunset
Oct 11 2004 // Regardless of whether George W. Bush is re-elected or John Kerry moves into the White House, the property/casualty insurance industry appears to have a good chance of getting its wishes when it comes to extending the...
Remember the Lessons of Hurricane Andrew
Oct 11 2004 // Due to efforts to rebuild the Florida property insurance market after Hurricane Andrew, most policyholders in the wake of 2004s more costly hurricane season should not face the same post-Andrew price increases or limited...
Amlin Estimates Net Losses from Hurricanes and Typhoons at $133 Million
Oct 10 2004 // Amlin, a leading Lloyd’s insurer, has released its estimates for losses relating to Hurricanes Charley, Frances, Ivan and Jeanne, together with Typhoon Songda, indicating that gross claims are around $263 million...
Big ‘I’ Concerns: Insurance CEOs Cite Terrorism, Asbestos, Tort Reform
Oct 10 2004 // Terrorism, asbestos and tort reform will be key industry concerns according to five insurance company chief executive officers participating in a panel discussion during the Oct. 9 to 12 Convention held by the Independent...
