Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Study Says Workers’ Comp Terrorism Reinsurance Pool Not Enough
Apr 15 2004 // The private insurance industry for workers’ compensation would not have enough capital to withstand potential losses on its own should a catastrophic terrorism event, or multiple events, occur, according to the...
ACE USA Unveils Storm Tracker
Apr 12 2004 // ACE USA, the U.S.-based retail operating division of The ACE Group of Companies, has introduced Storm Tracker, a new insurance product that provides coverage for business losses occurring when a hurricane arrives within a...
Report Explores the New Frontier of Catastrophic Risk Exposures for the Insurance Industry
Apr 7 2004 // Increasingly, life and health insurers are underwriting man-made catastrophic risks involving deaths and disabilities resulting from terrorists making use of nuclear, biological and chemical weapons, according to the...
Report Estimates Potential Costs to U.S. Insurance Industry from a Repeat of 1974 Tornado Super Outbreak
Apr 6 2004 // Risk Management Solutions Inc. (RMS), a provider of products and services for catastrophe risk management, announced the release of an in-depth study of potential costs to the U.S. insurance industry from a recurrence of...
Up for Sale: Success in Today’s Homeowners Market
Apr 5 2004 // States show signs of stability, but problem areas remain Despite continuing availability issues and sky-high loss ratios, the U.S. homeowners market is stabilizing as a whole. Of course, most industry observers who make...
Terrorism Tops List of Concerns for Workers’ Comp Professionals
Apr 5 2004 // Industry executives in the workers’ compensation field from across the nation gathered in Las Vegas recently for the 5th Annual AMCOMP (American Society of Workers’ Comp Professionals Inc.) Meeting &...
Commercial Brokers Favor TRIA Renewal Says CIAB
Mar 31 2004 // Eighty percent of the leading commercial property/casualty insurance brokers say the federal Terrorism Risk Insurance Act (TRIA) should be extended when it expires at the end of 2005, according to a survey released today...
Mich. Ups Catastrophic Claims Charge
Mar 22 2004 // Michigan, the only state that offers unlimited lifetime medical benefits for people catastrophically injured in car crashes, said it will raise by $27 the premium included in consumers’ auto insurance bills,...
Terrorism and TRIA – What’s in Store for the Future’
Mar 22 2004 // Two years later, fate of the historic act remains unknown If a camel is a “horse made by a committee” then the Terrorism Risk Insurance Act (TRIA), passed by Congress in November 2002, is a law made by several...
Mass. Eyes Fla.-style Hurricane Fund to Ease Coastal Homeowners Crisis
Mar 22 2004 // Massachusetts officials, searching for ways to ease a homeowners insurance availability crisis on Cape Cod and other coastal areas, are researching how Florida dealt with its insurance difficulties 10 years ago when it set...
S&P Reports Top Layer Reinsurance Ltd. ‘AA’ Ratings Affirmed; Outlook Stable
Mar 17 2004 // Standard & Poor’s has affirmed its ‘AA’ counterparty and financial strength ratings on Top Layer Reinsurance Ltd. The outlook is stable. Top Layer Re is a 50%/50% joint venture between State Farm...
MAJORITY OF CALIF. WILDFIRE CLAIMS RESOLVED, SAYS IINC:
Mar 8 2004 // A new insurer survey estimates that roughly three-quarters of claims stemming from the devastating October wildfires have been resolved. A poll by the Insurance Information Network of California of insurers representing...
Terrorism Tops List of Concerns for Workers’ Comp Professionals
Mar 8 2004 // Industry executives in the workers’ compensation field from across the nation gathered in Las Vegas Feb. 5-6 for the 5th Annual AMCOMP (American Society of Workers’ Comp Professionals Inc.) Meeting &...
ATLA, TTLA BLAST TERRORIST LABEL:
Mar 8 2004 // The Association of Trial Lawyers of America (ATLA) demanded a retraction and an apology from American Insurance Group CEO Maurice “Hank” Greenberg for calling them “terrorist trial lawyers” in a...
New Swiss Re Sigma Study Reviews 2003 CAT Losses
Mar 3 2004 // Natural and man-made catastrophes caused the deaths of more than 60,000 people worldwide last year, according to Swiss Re’s latest sigma report. Over two thirds of these were the victims of earthquakes. Overall...
ATLA Blasts Greenberg for Terrorist Remark; TTLA Follows Suit
Feb 27 2004 // The Association of Trial Lawyers of America (ATLA) announced it has demanded a retraction and an apology from American Insurance Group CEO Maurice “Hank” Greenberg for calling them “terrorist trial...
Munich Re Releases 2003 Catastrophe Study
Feb 26 2004 // Munich Re has released its 2003 study of natural catastrophes, which concludes that “after three years of relative calm, no fewer than five great natural catastrophes(based on U.N. criteria) occurred in...
PIACT Opposes Conn. SFP Change
Feb 26 2004 // The Professional Insurance Agents of Connecticut Inc. is also concerned about the proposed changes addressed in House Bill 5200, but disagrees with the position taken by the AIA (see related article). The organization...
RMS Funds Singapore Center to Study Political Violence and Terrorism
Feb 25 2004 // California’s Risk Management Solutions, a provider of products and services for the management of catastrophe risk, announced that it is providing funding for the first visiting research fellowship to be established...
Majority of Calif. Wildfire Claims Resolved, Says IINC
Feb 24 2004 // A new insurer survey estimates that roughly three-quarters of claims stemming from the devastating October wildfires have been resolved. A poll by the Insurance Information Network of California of insurers representing...
