Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
RMS Reconnaissance Team Preparing to Assess Damage in Bermuda
Sep 9 2003 // California-based Risk Management Solutions (RMS), a provider of products and services for the management of catastrophe risk, was preparing to send a reconnaissance team to Bermuda to assess the damage caused by Hurricane...
Four Missing as Fabian Slams Bermuda-Strongest Hurricane in 50 Years
Sep 8 2003 // Hurricane Fabian, a monster of a storm, packing winds of 120 mph (192 kph), slammed full force into Bermuda on Friday night, uprooting trees, downing power lines and causing extensive structural damage. Four people were...
Gov. Bush Sees Hope for Industry in Florida and Nationally
Sep 8 2003 // From medical malpractice to workers’ compensation, Florida Gov. Jeb Bush {R} has been working with insurance industry leaders to solve problems in the Sunshine State during his two terms in office. The issues in...
Gov. Bush Sees Hope for Industry in Florida and Nationally
Sep 8 2003 // From medical malpractice to workers’ compensation, Florida Gov. Jeb Bush (R) has been working with insurance industry leaders to solve problems in the Sunshine State during his two terms in office. The issues in...
Bermuda Braces for Hurricane Fabian
Sep 5 2003 // The latest advisory bulletin from Miami’s National Hurricane Center warns “powerful hurricane Fabian [is] taking aim at Bermuda,” and a “hurricane warning remains in effect” for the...
NYSID, ELANY Guidance on Terrorism Coverage Sets 25% Limit
Sep 5 2003 // The New York State Insurance Department announced that it has concluded a cooperation agreement with the Excess Lines Association of New York (ELANY), a member of an industry coalition, which will set standards by which...
Powerful Atlantic Hurricane Forms
Sep 2 2003 // A powerful hurricane with the somewhat unlikely name of “Fabian” is currently roiling the waters of the mid-Atlantic. The storm, located about 335 miles (540 kms) east-northeast of Barbuda in the Northern...
RMS Provides Risk Analysis for $100 Million Taiwan Earthquake Pool
Aug 28 2003 // Newark, Calif.-based Risk Management Solutions, a leading provider of products and services for the management of catastrophe risk, announced that it has provided the risk analysis for a securitization of insurance risk by...
EQECAT Provides Risk Analysis for Largest Japanese Cat Bond
Aug 21 2003 // Oakland- based EQECAT Inc., a division of ABSG Consulting of Houston, Texas, announced that it has provided the risk analysis for a $470 million bond consisting of three individual tranches covering potential losses from...
Losses from Tropical Storm Bill Estimated at Almost $22M
Aug 19 2003 // Louisiana Insurance Commissioner Robert Wooley announced that new and final estimates by the state’s Department of Insurance show Tropical Storm Bill caused nearly $22 million in insured damages in...
Collins Associates’ Grant to Speak on Terrorism Reinsurance at Society of Actuaries Conference
Aug 18 2003 // Reinsurance brokerage provider John B. Collins Associates announced that Jim Grant, senior vice president, will speak on Terrorism Reinsurance for Health at the Society of Actuaries’ Valuation Actuary Symposium in...
Texas’ Costliest and Deadliest Storms
Aug 18 2003 // The Insurance Council of Texas (ICT) reported that among the state’s costliest and deadliest storms since 1950, a tropical storm that dropped more than three feet of rain on parts of Houston was the costliest weather...
CDS Business Mapping Expands Wildfire Coverage to Ariz., Colo., Wash.
Aug 11 2003 // CDS Business Mapping, a provider in online hazard mapping, announced the launch of its Wildfire Hazard Model for Arizona, Colorado, and Washington. The Wildfire Hazard Model consists of highly detailed maps that identify...
Ohio Casualty’s Earnings Down $2.1 Million From Year Ago
Aug 8 2003 // Fairfield, Ohio-based carrier Ohio Casualty Corp. announced second-quarter net income of $11 million, or 18 cents per diluted share, down from a year ago’s $13.1 million, or 21 cents per diluted share. The company...
Insurers Expected to Pay $4.9B for Q2 CAT Losses
Aug 8 2003 // U.S. property/casualty insurers are expected to pay policyholders an estimated $4.9 billion for insured property-loss claims from four catastrophic events in the second quarter ― the second-highest second quarter in...
Swiss Re, Mitsui Sumitomo Arrange $100M Catastrophe Risk Swap
Aug 6 2003 // Swiss Re and Mitsui Sumitomo Insurance Company have arranged a $100 million catastrophe risk swap. The catastrophe risk swap is structured in two risk exchanges of $50 million each: Japan typhoon for North Atlantic...
Vesta Reports Cat Losses for Second Quarter
Aug 6 2003 // Birmingham, Ala.-based Vesta Insurance Group Inc. reported a net operating loss from continuing operations of $5.4 million, or $(0.16) per share in the second quarter of 2003 compared to a net operating loss from...
ICT REPORTS ON TEXAS’ COSTLIEST AND DEADLIEST STORMS
Aug 4 2003 // The Insurance Council of Texas (ICT) reported the state’s costliest and deadliest storms since 1950. A tropical storm that dropped more than three feet of rain on parts of Houston was the costliest weather disaster...
ALDOI Urges Homeowners to Review Hurricane Coverage
Aug 1 2003 // August ushers in the peak of hurricane season, so the Alabama Department of Insurance is asking Alabama homeowners to check their insurance policies in regards to hurricanes—particularly in the area of deductibles. In...
Cincinnati Financial’s Q2 Profit Up 58% Over Last Year’s
Jul 30 2003 // Multi-line insurer Cincinnati Financial Corp. reported second-quarter net income of $84 million, or 52 cents per diluted share, compared with $35 million, or 21 cents per share, in the second quarter of 2002. These figures...
