Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Hurricane Spin-down Coverage
Sep 20 2004 // Nuts & Bolts: ACE USA, the U.S.-based retail operating division of the ACE Group of Companies, introduced hurricane spin-down insurance that can be used by the chemical process industry to help reduce the financial...
CAT Modelers: Ivan’s Estimated Losses Up to $10B
Sep 20 2004 // Initial estimated insured losses from Hurricane Ivan range from about $2 billion to about $10 billion, according to catastrophe modelers Eqecat, Inc. The estimated range of insured losses takes into account Category 3...
Safeco Estimates Losses from Hurricane Frances
Sep 20 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...
PCI Claims Hurricane Ivan Proves Need for Tougher Fla. Building Code
Sep 20 2004 // Last month’s decision by the Florida Building Commission to add more stringent wind provisions to the Florida Building Code was reportedly especially perceptive in the wake of three – and possibly four –...
Surplus Line Carriers
Sep 20 2004 // First Responders Once upon a time, the excess and surplus line market was the safety valve of the insurance industry—the more lightly regulated, more financially shaky little brother to the admitted market. It was said...
Insurers Hope to Put Off TRIA’s Sunset
Sep 20 2004 // Regardless of whether President 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...
IAIABC Panel Takes Fresh Look at Terrorism
Sep 20 2004 // In a code orange New York, the International Association of Industrial Accident Boards and Commissions (IAIABC) took a fresh look at terrorism and its relation to workers’ compensation at its recent 90th Annual...
Ivan Not Finished With U.S.; I.I.I. Reports on Florida Hurricane Damage
Sep 18 2004 // While he lost his hurricane designation several days ago, what was Hurricane Ivan continued to bring misery to the United States, spawning more tornadoes and drenching areas from Georgia up through Pennsylvania in the last...
RMS: Potential Losses for Hurricane Ivan, $2 to $7 Billion
Sep 17 2004 // Risk Management Solutions (RMS), reported that insured losses from Hurricane Ivan in the U.S. are likely to range from $2 to $7 billion, based on updated information on landfall location and wind speeds. Additional insured...
Fitch Estimates Ivan May Become Second Costliest Hurricane For U.S. P/C Insurers
Sep 17 2004 // Chicago-based Fitch Ratings has issued some preliminary comments on the extent of the losses from Hurricane Ivan’s destructive rampage through Alabama, Florida and other Gulf Coast States. Fitch noted that...
Jeanne Heads for Bahamas; Karl on the Horizon as South Regroups
Sep 17 2004 // After briefly gaining hurricane strength, Tropical Storm Jeanne’s wind speed slowed as it drifted West-Northwestward along the north coast of Hispaniola. Even the comparatively slow winds – around 65 mph (104...
Florida CFO Reports Progress in Emergency Response Efforts in Wake of Hurricane Ivan
Sep 17 2004 // Florida’s Chief Financial Officer Tom Gallagher, who also serves as the State Fire Marshal, on Friday offered an update on search and rescue efforts and thanked emergency responders for their crucial, life-saving...
Lessons Learned From Hurricanes Passed on to Owners Set to Rebuild
Sep 16 2004 // State and federal disaster recovery officials are urging owners who are rebuilding after hurricanes Charley and Frances to consider taking steps now to minimize damage in future storms. “There is no better time than...
Aftermath of Ivan: Hundreds of Thousands Without Power, Heavy Rains Continue
Sep 16 2004 // Hurricane Ivan slammed ashore in Gulf Shores, Ala., early Thursday with winds of 130 mph, packing deadly tornadoes and a powerful punch of waves and rain that threatened to swamp communities from Louisiana to the Florida...
Jeanne Following Familiar Caribbean Path
Sep 16 2004 // While her big brother Ivan terrorizes the U.S. Gulf Coast (see related articles), little sister Jeanne has remained an active tropical storm, but could become the season’s next hurricane. Jeanne, the 10th named storm...
President Declares Disaster Areas for Alabama, Louisiana, Mississippi
Sep 16 2004 // The head of the U.S. Department of Homeland Security’s Federal Emergency Management Agency (FEMA) announced today that President Bush ordered the release of federal disaster funds and emergency resources for...
Safeco Team Deployed for Hurricane Ivan
Sep 16 2004 // Seattle-based Safeco’s National Catastrophe Team is deploying additional claims professionals to Alabama and surrounding states to aide customers recovering from Hurricane Ivan. Safeco claims professionals are...
President Bush Declares Third Major Disaster for Florida as Result of Ivan
Sep 16 2004 // The head of the U.S. Department of Homeland Security’s Federal Emergency Management Agency (FEMA) announced today that President Bush has ordered the release of all necessary federal disaster aid resources for...
S&P: Challenges to Property Catastrophe Reinsurers
Sep 16 2004 // Standard & Poor’s Ratings Services has published a review of the property catastrophe reinsurance industry, titled “Is Property Catastrophe Reinsurance a Commodity,” examining its commodity-like...
Industry-Backed Study Claims TRIA Extension Would Strengthen U.S. Economy
Sep 15 2004 // A study, commissioned by the American Insurance Association, Financial Services Roundtable, National Association of Mutual Insurance Companies, National Council on Compensation Insurance, Property Casualty Insurers...
