Latest Flood Headlines
All the headlines from our Flood Topic Page, ordered by recency.
North Carolina Researchers Track Risk from Rising Sea Level
Mar 30 2011 // Laid back beach communities, fragile wetlands perfect for canoeing or kayaking, and iconic lighthouses come to mind when picturing North Carolina’s coast. In reality change is the norm along the coast, and although...
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...
Class Action Suit Over New Orleans Hospital Katrina Deaths Begins
Mar 23 2011 // A last-minute effort to work out a settlement with Tenet Health Systems and Memorial Medical Center in a lawsuit over deaths at the hospital during Hurricane Katrina was unsuccessful. Jury selection for the trial was to...
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...
Texas Lawmakers Roll Out Plans to Reform Wind Pool
Mar 21 2011 // Two lawmakers have introduced separate but similar bills aimed at reforming the troubled state-backed wind risk insurer for property along the Texas coast. At a packed hearing on Mar. 15, Texas House of Representaives...
House Moves On Flood Insurance Changes
Mar 21 2011 // A Republican draft of legislation to reform the federal flood insurance program would renew the program for five years, phase out most rate subsidies, tie coverage limits to the rate of inflation, vary the deductible by...
Expanding Flood Insurance Options: Good Idea?
Mar 21 2011 // Expanding a federal program that is already $17 billion in debt might seem like a non-starter of an idea on budget-conscious Capitol Hill these days. However the idea is included in a Republican proposal to reform the...
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...
Alterra Gives Estimates Aus. Floods, Cyclone Yasi, NZ Quake Losses
Mar 18 2011 // Bermuda-based Alterra Capital Holdings Limited has announced initial loss estimates for three recent natural catastrophe events. Alterra said the estimates are “$5 to $8 million related to the Australian floods in...
North Dakota Flood Insurance Policies Down Slightly
Mar 17 2011 // The number of flood insurance policies issued to North Dakota residents so far this year is down slightly from last year, despite predictions of high water and an emergency declaration request for about one-third of the...
RenRe Estimates Australia Flood Losses $30 Mn; NZ Quake $190 Mn
Mar 17 2011 // Bermuda-based RenaissanceRe Holdings Ltd. announced its initial loss estimates for the 2011 Australian flooding as well as the February 2011 New Zealand earthquake. The Company said it currently expects the Australian...
Montpelier Re Estimates $75 Mn NZ Quake Losses; $15 Mn Australian Floods
Mar 16 2011 // Bermuda-based Montpelier Re Holdings announced that its preliminary pretax net loss estimate from the February New Zealand earthquake will be around US$75 million, net of reinstatement premiums. The Company added that its...
Business Groups Back Expanding Federal Flood Insurance Options
Mar 14 2011 // Expanding a federal program that is already $17 billion in debt might seem like a non-starter of an idea on budget-sensitive Capitol Hill these days. However the idea is included in a Republican-drafted reform of the...
FEMA Shifts Course on Flood Map Modeling in Illinois
Mar 14 2011 // The Federal Emergency Management Agency is offering a reprieve to property owners in southwestern Illinois and other areas guarded by aging levees that it had considered decertifying, staving off fears that some could have...
Newly Built Flood-Protection Levee in Louisiana Has Cracks
Mar 9 2011 // Cracks have formed in a Cocodrie, La., levee, one of the newest to be constructed as part of the Morganza-to-the-Gulf hurricane-protection system. Levee officials say the cracks aren’t serious enough to cause a...
Republican Flood Insurance Bill Gets Positive Initial Reception
Mar 8 2011 // A Republican draft of legislation to reform the federal flood insurance program would renew the program for five years, phase out most rate subsidies, tie coverage limits to the rate of inflation, vary the deductible by...
4 Consumer Misconceptions About Personal Lines
Mar 7 2011 // Agents, Don’t Be on Spring Break When Customers Need You to Prepare for Summer As spring draws near, it’s time to reconnect with your clients. There is no better time than now to reach out and address some...
Declarations
Mar 7 2011 // Higher Exposures, Limits “Clearly, companies are reacting to the fact that D&O liability exposures facing directors and officers are arguably at an all-time high. Insurance buyers continue to be threatened by an...
