Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
SEPT. 11 INSURED-PROPERTY LOSS ESTIMATE TOPS $20B:
Jul 8 2002 // Insured-property losses from the Sept. 11 terrorism attack are now estimated at $20.3 billion, up from the $16.6 billion that Insurance Services Office Inc.’s (ISO) Property Claim Services (PCS) unit had reported...
Surplus Lines and the Lloyd’s Market
Jul 8 2002 // Lloyd’s of London is perhaps the most well- known insurer in the U.S., not only due to its 300 years of existence, but also because this country is the London market’s biggest customer, accounting for over 35...
For Lloyd’s, Continued Growth Expected in Surplus Linese
Jul 8 2002 // Lloyd’s of London is perhaps the most well known insurer in the U.S., not only due to its 300 years of existence, but also because this country is the London market’s biggest customer, accounting for over 35...
Insurers Reveal Damage Estimates from Colo. Wildfires
Jul 4 2002 // Damage from three wildfires that recently ravaged Colorado could cost insurers a record setting $50 million, according to the Associated Press. Preliminary estimates revealed that State Farm anticipates a payout of $24.7...
Homeowners’ Rates on Rise: Increased Catastrophes, Soaring Home Repairs and Excessive Jury Awards am
Jul 1 2002 // An extraordinary number of catastrophes, the high cost of home repairs and excessive jury awards due to the emergence of mold claims are pushing the cost of homeowners insurance upward an average of 8 percent nationwide in...
P/C Industry’s 1stQ Net Income Falls 7.3 Percent
Jun 27 2002 // The U.S. property/casualty industry’s net income after taxes dropped 7.3 percent to $5.1 billion in first-quarter 2002 from $5.5 billion in first-quarter 2001, according to just released information from Insurance...
AASCIF President Met with Senator for Swift Passage of Terrorism Legislation
Jun 26 2002 // Kenneth Bollier, president of the American Association of State Compensation Insurance Funds (AASCIF), recently met with U.S. Senator Charles Schumer (D-New York) and the staffs of Senators Barbara Boxer (D- California)...
The Storms Will be Out There: Average Hurricane Season Predicted
Jun 24 2002 // Colorado State University hurricane forecasters, led by Dr. William Gray, recently lowered this year’s Atlantic basin hurricane forecast numbers, but that hasn’t prevented insurance commissioners from states...
SENATE TERRORISM BILL INTRODUCED:
Jun 24 2002 // The Alliance of American Insurers (AAI) says it is encouraged that the Senate is now beginning to focus on the terrorism insurance issue with the introduction of a bill (S 2600) by Senators Chris Dodd (D-CT), Harry Reid...
SENATE TERRORISM BILL INTRODUCED
Jun 24 2002 // The Alliance of American Insurers (AAI) says it is encouraged that the Senate is now beginning to focus on the terrorism insurance issue with the introduction of a bill (S 2600) by Senators Chris Dodd (D-CT), Harry Reid...
RMS
Jun 24 2002 // Risk Management Solutions has expanded its online services for real-time hurricane monitoring and information, coinciding with the start of the 2002 Atlantic Hurricane season on June 1. The expanded RMS monitoring services...
New England Council, PIA Laud Passage of Terrorism Insurance Bill
Jun 19 2002 // Both the New England Council and the National Association of Professional Insurance Agents expressed strong approval of the U.S. Senate’s action in passing legislation to provide back-up insurance for acts of...
Insured-Property Loss Estimate from Sept. 11
Jun 19 2002 // Insured-property losses from the Sept. 11 terrorism attack on the World Trade Center and the Pentagon are now estimated at $20.3 billion, up from the $16.6 billion that Insurance Services Office, Inc.’s (ISO)...
IIABA Applauds Senate’s Approval of Terrorism Ins. Backstop
Jun 19 2002 // The Independent Insurance Agents & Brokers of America (IIABA) reacted to the Senate’s recent approval of the terrorism insurance backstop legislation in a statement released June 18. The final vote invoking...
Pair of Calif. Transportation Services Do Away with Earthquake Policies
Jun 18 2002 // Both Caltrain and the Valley Transportation Authority have decided that their respective earthquake insurance policies were getting a little too hefty for their wallets. Therefore, both have terminated policies in order to...
Colo. Wildfires Won’t Increase Homeowners Rates
Jun 18 2002 // Despite the severity of the Colorado wildfires that have blazed through the state in recent weeks, the good news is that insurance companies insist homeowners rates won’t rise due to the immense amount of claims...
Terrorism Debate Heats Up as Democrats Block Republican Effort
Jun 17 2002 // The battle over terrorism insurance heated up one notch June 13 as Senate Democrats blocked a Republican effort to limit lawsuit claims as part of a terrorism-insurance bill, putting forth a battle with the White House and...
New England Council Urges Passage of Terrorist Insurance Bill
Jun 14 2002 // The New England Council (NEC), urged the U.S. Senate to pass S.2600, legislation designed to implement a system of terrorist reinsurance coverage of losses from future attacks like those of Sept. 11. The legislation is...
EU Airlines Back Government Supported Terrorist Coverage Plan
Jun 14 2002 // As a crucial meeting of the European Union’s Transport Ministers approaches, the EU’s airlines have increasingly lined-up behind a plan which would establish a mutual insurance fund, backed by EU governments,...
Terrorism Bill Goes to Senate Floor; AAI Calls for Rapid Passage
Jun 14 2002 // The Alliance of American Insurers (AAI) called June 13 for passage of the terrorism insurance bill (S 2600) now under debate on the Senate floor. “Senate Democratic leaders obtained unanimous consent yesterday to...
