Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Trinom Ltd. Catastrophe-Linked Notes Rated
Sep 10 2001 // Fitch has assigned a “BB-” rating to the $60 million of class A-1 catastrophe-linked notes and a “BB” rating to the $97 million of class A-2 catastrophe-linked notes issued by Trinom Ltd. The notes...
RMS Upgrades Hawaii Hurricane Model for Insurance Market
Aug 22 2001 // Risk Management Solutions (RMS), industry leader in the area of natural hazard risk modeling, announced the latest release of its RMS™ Hawaii Hurricane model. The model upgrade offers significantly improved risk...
Fewer Storms in 2Q Amount to Big Losses for Insurers
Aug 20 2001 // Sometimes less does mean more. While there were fewer catastrophes for the second quarter of 2001 compared to recent years, the damage that those left in their wake was enough to send a number of insurers scrambling to...
Two More Named Storms Forecast for August
Aug 20 2001 // As the Atlantic hurricane season’s second named storm has faded into memory, hurricane forecaster William Gray predicts two more named storms in the Atlantic Ocean and Gulf of Mexico during the month of August. One...
NASA Study to Dissect Hurricanes
Aug 16 2001 // As the country gears up for hurricane season, researchers from the Convection And Moisture EXperiment (CAMEX) are getting ready to conduct an in-depth study of the storms by meeting them head-on. CAMEX is the fourth in a...
Above-Average Atlantic Hurricane Season Predicted by TSR Consortium
Aug 9 2001 // The Tropical Storm Risk (TSR) consortium issued renewed above-average projections for the 2001 Atlantic hurricane season. The number of tropical storms and hurricanes striking US shores in 2001 are expected to be 20 to 30...
Fewer Storms in 2Q Amount to Major Losses for Insurers
Jul 30 2001 // Sometimes less does mean more. While there were fewer catastrophes for the second quarter of 2001 compared to recent years, the damage that those left in their wake was enough to send a number of insurers scrambling to...
Study Says Eight Insurers Command 65 Percent Market Share in Hurricane-Prone States
Jul 23 2001 // A recent study by Palm Beach Gardens, Fla.-based Weiss Ratings Inc. indicated that just eight large property and casualty insurers provide homeowners coverage to residents in hurricane-prone states. Weiss Ratings, a...
Swiss Re, Tokio Marine Conclude $450 Million
Jul 13 2001 // Tokio Marine & Fire Ins. Co, Japan’s largest p/c insurer, and global giant Swiss Re announced that they “have arranged a USD 450 million cat risk swap to cover losses from three natural perils.” The...
Study Says Eight Insurers Command 65% Market Share in Hurricane-Prone States
Jul 13 2001 // A recent study by Palm Beach Gardens, Fla.-based Weiss Ratings Inc. indicated that just eight large property and casualty insurers provide homeowners coverage to residents in hurricane-prone states. Weiss Ratings, a...
Study Disagrees With Global Warming Notion
Jul 12 2001 // A study analyzing insured hurricane damages from all hurricanes which impacted the continental U.S. in the 20th Century, disagrees with some analysts’ claims who stated that global warming has caused gains in...
More Atlantic Hurricanes Predicted
Jul 11 2001 // London-based weather analyst Tropical Storm Risk (TSR) has predicted more storm activity in the Atlantic this year than previously expected, with the possible formation of 6 potentially deadly hurricanes from a total of 13...
Tropical Storm Allison Rains on Chubb Profits
Jul 11 2001 // The Chubb Corp. announced its second quarter profits would drop by more than 25 percent from last year, mainly due to losses from Tropical Storm Allison, which did much damage in Texas, Louisiana and other parts of the...
California Earthquake Authority Releases Project Consulting Team Report
Jul 11 2001 // A new report completed by Tillinghast-Towers Perrin presents the current state of the California Earthquake Authority (CEA) in a positive light. The “CEA Project Consulting Team Report,” was commissioned by the...
Earthquake Awareness: Not Just a California Thing Anymore
Jun 25 2001 // Residents in Oregon and Washington would probably be surprised to know that more than 1,000 earthquakes per year are recorded in the two states by the seismology lab at the University of Washington. The biggest reason for...
Banning Major Earthquakes-A Savvy, Market-Saving Move
Jun 25 2001 // Apparently, we’ve licked that quake insurance problem. Faced with the devastation (property and market) wrought by the Northridge Earthquake and the realization by insurers that the loss models they had carefully...
RMS Releases New European Windstorm Models
Jun 22 2001 // Newark, California-based Risk Management Solutions has released “two comprehensive data products designed to quantify the risks associated with European windstorms.” The heavy losses, $14.4 billion ($7.8...
Hailstorm Causes an Estimated $220M in Damage
Jun 22 2001 // Perhaps one of the most expensive hailstorms in North Dakota history struck the south central part of the state on June 9, 2001. The North Dakota Department of Insurance reported an estimated $220 million in property...
Royal & SunAlliance Catastrophe Center Strengthens Disaster Response Capabilities
Jun 20 2001 // With the official arrival of the 2001 hurricane season, Royal & SunAlliance is confident of its ability to respond to major disasters because of the successful track record of its Catastrophe Center, one of only a...
Terrorism from Newly Empowered Pressure Groups Poses a Threat
Jun 18 2001 // Firebombs, booby-trapped letters and packages, kidnappings, assaults and extortion—as these violent acts continue to proliferate, insurers have stepped up to offer financial protection. Handling threats from terrorist...
