Latest Earthquake Headlines
All the headlines from our Earthquake Topic Page, ordered by recency.
2010 Nat Cats, Disasters Cost $218 Bn – $43 Bn Insured; Says Swiss Re
Mar 29 2011 // According to Swiss Re’s latest sigma study, worldwide economic losses from natural catastrophes and man-made disasters were $218 billion in 2010, more than triple the 2009 figure of $68 billion. The losses cost the...
S&P Puts Montana Re Cat Bonds on CreditWatch Negative after Japan Quake
Mar 28 2011 // Standard & Poor’s Ratings Services has placed its ‘B- (sf)’ rating on Montana Re Ltd.’s Class E notes on CreditWatch with negative implications. The notes, totaling $210 million, were originally...
S&P: Outlook Negative on 9 Japanese P/C Insurers; Ratings Affirmed
Mar 25 2011 // Standard & Poor’s Ratings Services has conducted a detailed analysis of 15 Japanese P/C insurers, and has made several adjustments in its ratings following the earthquake and tsunami, which hit the country on...
AIG Expects ‘Minimal’ Effects from Japan Claims
Mar 24 2011 // American International Group Inc. said Wednesday it expects “minimal net effects” from the recent earthquake and tsunami on the financial condition of its local Japanese operations, including those of Fuji Fire...
Allianz Nat Cat Analysis: Economic Growth a Major Factor for Increased Losses
Mar 24 2011 // Experts on natural catastrophe risk at Allianz have highlighted the growing trend in insured losses arising from natural catastrophes worldwide in a risk briefing – the “Allianz Risk Pulse: Focus Natural...
Insurer Shares Relatively Unaffected by Japan Damage Estimates
Mar 23 2011 // Insurer shares largely shrugged off the industry’s first round of damage estimates from this month’s earthquake in Japan, which may prove to be the world’s costliest disaster. Munich Re and Hannover Re,...
Munich Re Estimates Japan Quake, Tsunami Claims over $2 Billion
Mar 23 2011 // Munich Re announced that it has estimated its claims burden from the earthquake and tsunami in Japan at around €1.5 billion [$2.128 billion], after retrocession and before tax. As a result Munich Re said its...
Platinum Estimates NZ Quake, Aus. Flood Losses at $160 Million; Assessing Japan
Mar 23 2011 // Bermuda-based Platinum Underwriters Holdings has announced that it currently expects the 2011 Australian floods and Cyclone Yasi and the 2011 New Zealand earthquake will “have a net negative impact of approximately...
AXIS Estimates NZ Quake, Aus. Flood Losses at $275 to $315 Million
Mar 22 2011 // AXIS Capital Holdings Limited has issued a bulletin which estimates that the “total net impact of the New Zealand earthquake and loss events in Australia that have occurred to date in the first quarter of 2011 will...
Japan Disaster Shows up Flaws in ‘Just-in-time’ Production
Mar 22 2011 // Just over a week after the massive earthquake hit the sprawling Texas Instruments chip plant here, a gardener is reworking the Japanese garden in an inner courtyard of the office tower attached to the plant. The garden is...
High-Risk Properties Require Higher Level of Care
Mar 21 2011 // High-risk property is a location that is inherently dangerous due to the nature of its operations or that is exposed to powerful forces of nature such as hurricanes, earthquakes, and floods. Insuring against these...
Swiss Re Estimates Japan Earthquake, Tsunami Claims at $1.2 Billion
Mar 21 2011 // Swiss Re has released a preliminary estimate of its claims costs, net of retrocession and before tax, from the earthquake and the tsunami in Japan of $1.2 billion. The reinsurer cautioned that these “estimates are...
Be Prepared
Mar 21 2011 // Insurers and reinsurers may have sufficient funds to absorb losses from Japan’s 9.1 magnitude earthquake, yet the impact of the quake and resulting tsunami and fires are a stark reminder that it’s important to...
AIG Estimates $1 Billion in Q1 Catastrophe Losses, Most from Japan
Mar 20 2011 // American International Group Inc. said it would post an estimated $1 billion in pre-tax catastrophe losses in the first quarter, mostly from exposure to the March 11 earthquake in Japan. AIG said its exposure would be...
Calif. Senators Introduce National Earthquake Legislation
Mar 18 2011 // U.S. Senators Dianne Feinstein and Barbara Boxer, both D-Calif., have introduced legislation to lower the cost of earthquake insurance for Californians and individuals who purchase coverage from a non-profit, state-run...
New York Governor Will Review Safety at Nuclear Plant
Mar 18 2011 // New York Gov. Andrew Cuomo said that he wants to review information from the Nuclear Regulatory Commission about safety of a nuclear plant that lies near a seismic fault line 35 miles north of Manhattan. “Frankly,...
Lloyd’s Chaucer Lowers NZ Quake, Aus. Flood Loss Estimates; Assessing Japan
Mar 18 2011 // Chaucer Holdings PLC, the specialist Lloyd’s insurance group, has announced that it has reduced its best estimate for claims arising from the 2010 New Zealand earthquake and Australian floods. Chaucer previously...
Endurance Estimates $15 Million Aus. Flood Loss; $45 Million NZ Quake
Mar 18 2011 // Bermuda-based Endurance Specialty Holdings Ltd. announced that its “initial loss estimate related to the floods which occurred in Queensland, Australia in January of 2011 is $15 million.” The specialty...
EU Regulator: ‘No Major Threat’ to Europe’s Insurers from Japan Crisis
Mar 17 2011 // European insurers face no major threat from the turmoil ensuing from last week’s earthquake and tsunami in Japan, the European Union’s insurance watchdog said on Thursday. “From a European viewpoint, the...
Global Fears Mount as Japan Takes Desperate Measures to Cool Reactors
Mar 17 2011 // Operators of a quake-crippled nuclear plant in Japan dumped water on overheating reactors on Thursday while the United States expressed growing alarm about leaking radiation and urged its citizens to stay well clear of the...
