Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Industry Representatives Say Calif. Is Prepared
Dec 24 2001 // How would California respond to a disaster, be it a major earthquake, fire or something the equivalent of Sept. 11? Addressing the state’s level of preparedness in the event of a major tragedy, representatives of the...
Welcome to the 3rd Annual “Top Ten Stories of the Year”
Dec 24 2001 // In what became one of the most significant, traumatic and challenging years in U.S. history, the insurance industry, along with the rest of the nation, has had to come to terms with the terrorist attacks perpetrated...
Congressional Stalemate Could Slow Down Economic Recovery
Dec 24 2001 // The political stalemate that resulted in Congress’ failure to implement a federal terrorism insurance backstop could stifle an economic recovery and shifts the pressure for handling such risks to state regulators....
Council of Insurance Agents + Brokers Responds to Failure of Federal Terrorism Reinsurance Legislati
Dec 24 2001 // In response to no Congressional action being taken on federal terrorism reinsurance legislation died in 2001, Ken Crerar, president of The Council of Insurance Agents + Brokers, stated that the move was a disappointment to...
Insurers Lament Senate Inaction on Crucial Federal Terrorism Insurance Legislation
Dec 21 2001 // The push to enact federal terrorism insurance before the end of the year failed on Dec. 20 after promising Senate legislation was held hostage because some provisions ran contrary to the trial lawyer’s agenda,...
ABA Sets Up Task Force on Insurance and Terrorism Claims
Dec 21 2001 // The American Bar Association announced the creation of a Task Force on Insurance and Terrorism Claims to address insurance issues arising out of the terrorists attacks on the World Trade Center and the Pentagon. The...
NAMIC Creates ‘Terrorism Re’ Channel
Dec 19 2001 // Responding to the need by National Association of Mutual Insurance Companies (NAMIC) members and the industry for late breaking information regarding the terrorism debate on Capital Hill, and because NAMIC believes that it...
NAMIC Calls for One Definition of Terrorism
Dec 17 2001 // The National Association of Mutual Insurance Companies (NAMIC) commented on a draft definition of terrorism released recently by an Ad Hoc Committee on Legal Issues of the National Association of Insurance Commissioners...
Top 10 Stories of 2001
Dec 17 2001 // Recollections and Renewal: Looking Back at 2001 with an Eye to the Future This is the year that was. It is one that many people will be glad to see come to an end because the new year always brings hope—for a rebirth,...
RIMS Tells NY Assembly to Support Adoption of Federal Terrorism Law
Dec 14 2001 // The Risk and Insurance Management Society urged the members of the New York State Assembly Insurance Committee not to permit terrorist exclusions at the state level, but to work with insurance industry leaders to assure...
AIA Testimony Calls for Protection against Future Terrorist Attacks
Dec 13 2001 // Insurers are fully meeting their promises to policyholders in the wake of the Sept. 11 terrorist attack on the World Trade Center; however, a federal backstop is needed to provide protection against future terrorist...
House Passes Terrorism Risk Protection Act, Attention Now Turns to Senate
Dec 10 2001 // In what is viewed by many leading insurance industry organizations as a significant step in the right direction, the U.S. House of Representatives passed the Terrorism Risk Protection Act (HR 3210) by a vote of 227-193 on...
I.I.I. Sees Little Impact Sept. 11 Losses on 2002 Auto, Homeowners
Dec 7 2001 // Insurance losses from the Sept. 11 terrorist attacks, the largest loss in insurance history, will have little impact on the cost of auto and homeowners insurance next year, according to the Insurance Information Institute...
Calif. Industry Said to Be Prepared for Future Disasters
Dec 6 2001 // Representatives of the insurance industry testified Wednesday before the California Assembly Insurance Committee concerning insurance and reinsurance after the attack on America. They noted that the Sept. 11 attack was...
EQECAT Sponsors Innovations in Catastrophe Management Conference
Dec 5 2001 // EQECAT, a catastrophe modeler and consultant to the insurance and financial services industry, will sponsor a conference titled “Innovations in Catastrophe Management” in Ft. Myers, Fla., on March 3-6, 2002....
TSR Predicts Active Atlantic Hurricane Season
Dec 4 2001 // The London-based tropical Storm Risk Consortium (TSR) has issued a bulletin predicting that the number of Atlantic storms in 2002 will be above average, and that at least two hurricanes will strike the U.S. “TSR...
Munich Re Posts $1 Billion 3Q Loss, Comments on Terrorism Coverage
Nov 30 2001 // Munich Re, the world’s largest reinsurer, suffered a commensurately large loss in the 3rd quarter of €1.2 billion ($1.05 billion) after tax. In addition to the estimated €2.1 billion ($1.85 billion) losses...
House Passes Terrorism Reinsurance Bill
Nov 30 2001 // The U.S. House of Representatives passed the Terrorism Risk Protection Act (HR 3210) by one vote of 227-193 on the afternoon of Nov. 29. According to the Independent Insurance Agents of America (IIAA), the legislation...
Sustained Consolidation Predicted as a Result
Nov 29 2001 // The insurance industry has entered a period of sustained consolidation, both domestically and internationally, as a result of the Sept. 11 attacks, according to a year-end forecast by the Transaction Services group at...
U.S. Financial Firms, Law Enforcement Seek Ways to Track Terrorists
Nov 28 2001 // The leading U.S. financial firms and law enforcement agencies are mulling over an agreement that would give authorities sweeping power to track terrorists using the financial system, the Wall Street Journal reported. The...
