Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Big ‘I’ Praises Approval of Terrorism Insurance Backstop Bill by Financial Services Committee
Sep 29 2004 // The Independent Insurance Agents & Brokers of America (the Big “I”) is hailing House Financial Services Committee passage of H.R. 4634, the Terrorism Risk Insurance Backstop Extension Act. The Association...
PXRE Comments on Recent Catastrophes
Sep 29 2004 // The Bermuda-based PXRE Group Ltd. said that, while it was too early to give definitive estimates of its losses from the recent hurricanes and typhoons, they would have an impact on the property catastrophe...
Jeanne Makes 2004 Costliest for U.S. Hurricane Losses
Sep 28 2004 // Hurricane Jeanne, the fourth major storm to hit Florida this year, has caused between $4 billion and $14 billion in insured losses in the state, meaning that 2004 may now be the insurance industry’s costliest year...
PartnerRe Estimates Q3 Hurricane Losses
Sep 28 2004 // Bermuda-based PartnerRe Ltd. said it estimates that claims relating to its exposure to Hurricane Ivan are expected to be between $35-$45 million, with the loss split equally between U.S. and Caribbean exposures. “The...
Alliance Mutual Teams with Homes4NC to Aid Hurricane Victims in Western Part of N.C.
Sep 28 2004 // Alliance Mutual Insurance Company, based in Greensboro, North Carolina, has partnered with Homes4NC, the North Carolina Association of REALTORS® Housing Opportunity Foundation, to aid those in Western North Carolina who...
S&P Comments on Hurricane Jeanne’s $7 Billion Impact on U.S. P/C Insurers
Sep 28 2004 // Standard & Poor’s Ratings Services has issued a comment on the state of the U.S. property/casualty insurance industry and its short- and intermediate-term prospects in the wake of Hurricane Jeanne, the fourth...
$4.4 Billion Claims Expected for Hurricane Frances
Sep 27 2004 // Homeowners and businesses are expected to file claims totaling an estimated $4.4 billion for insured property losses from Hurricane Frances, according to a preliminary estimate by ISO’s Property Claim Services (PCS)...
Hurricane Jeanne Tears Fresh Path of Destruction Through Florida
Sep 27 2004 // Hurricane Jeanne, the fourth major hurricane in six weeks, shut down much of Florida and prompted recovery plans on a scale never before seen in the nation. At least six people died in the storm, which plowed across...
Insurance Claims Being Tallied for Four Hurricanes
Sep 27 2004 // Roofers and raw materials are scarce. Owners of storm-ravaged homes and businesses are grumbling about delays. And the combined number of insurance claims from Hurricanes Charley, Frances and Ivan is expected to overtake...
RMS Estimates $4 to $8 Billion Insured Losses from Hurricane Jeanne
Sep 27 2004 // Risk Management Solutions (RMS) estimates insured losses from Hurricane Jeanne will be between $4 to $8 billion, based on an assessment of the hurricane’s characteristics at the time of landfall and its projected...
EMC Notes Q3 Estimated Hurricane Losses
Sep 27 2004 // Iowa-based EMC Insurance Group Inc. has reported that losses associated with three of the four hurricanes that hit the southern United States during the third quarter of 2004 are estimated to total approximately $6.9...
Swiss Re Estimates Hurricane Ivan, Typhoon Songda Claims Around $300 Million
Sep 27 2004 // Swiss Re announced that, based on current estimates, it expects its claims related to Hurricane Ivan and Typhoon Songda to be approximately $300 million before tax. The bulletin noted that these estimates are in addition...
Jeanne Hits Florida Head-on; Causes Major Damage
Sep 27 2004 // Jeanne, once a rather weak tropical storm, roared ashore on Florida’s Eastern Coast early Sunday morning with the full fury of a massive Category 3 hurricane. While scenes of devastation played across TV screens...
‘Hurricane Watch’ Likely for Florida
Sep 24 2004 // Although Hurricane Jeanne has weakened slightly, the storm’s maximum sustained winds are still near 100 mph (160 km/hr) with higher gusts. However, the National Hurricane Center’s latest bulletin warns,...
DriveSavers Offering Discounts for Hurricane Victims
Sep 24 2004 // DriveSavers Inc. a provider in data recovery services, is offering discounted data recovery service to hurricane and storm victims with computers that suffered damage from severe weather conditions in Florida, Mississippi,...
CIAB Urges TRIA Extension, Passage of Regulatory ‘Roadmap’ at Testimony
Sep 24 2004 // The Council of Insurance agents & Brokers has told Congress that it “should move to extend the federal terrorism backstop beyond its Dec. 31, 2005, expiration date because the private marketplace is not prepared...
State Auto Expects at Least $32 Million in Hurricane Losses From Charley, Frances and Ivan
Sep 23 2004 // Columbus, Ohio-based regional property/casualty carrier State Auto Financial Corp. estimates that hurricanes Charley, Frances and Ivan, cumulatively, will contribute about $32 million to $36 million in pre-tax losses, or...
U.S. Labor Secretary Notes $10 Million Grant to Assist N.C. Workers Following Hurricanes
Sep 23 2004 // U.S. Secretary of Labor Elaine Chao visited Asheville, North Carolina on Thursday to survey hurricane damage and announce a National Emergency Grant of up to $10 million, with an initial release of $3.5 million. The grant...
RMS Unveils Global Terrorism Risk Model
Sep 23 2004 // Responding to increases in the frequency and severity of global terrorist activity in each of the past three years, Risk Management Solutions (RMS), a provider of products and services for the management of catastrophe...
Insurers to Pay an Estimated $4.4 Billion for Claims From Hurricane Frances
Sep 23 2004 // Homeowners and businesses are expected to file claims totaling an estimated $4.4 billion for insured property losses from Hurricane Frances, according to a preliminary estimate by ISO’s (www.iso.com) Property Claim...
