Latest Flood Headlines
All the headlines from our Flood Topic Page, ordered by recency.
Flagstone Re Q2 Net Drops 53% on Flood, Wind Losses
Aug 10 2007 // Bermuda-based Flagstone Reinsurance Holdings Limited had a rough second quarter of 2007 with net earnings down by 53 percent to $14.694 million, compared to $26.905 million in the second quarter of 2006. The...
New Orleans Officials Say City Can’t Wait for New Flood Gates
Aug 10 2007 // The French Quarter and other historic neighborhoods in New Orleans may be at risk of flooding for several years under a plan being considered by the Army Corps of Engineers that envisions building massive flood walls and...
ABI Estimates UK Flood Losses at $6.1 Billion; Supports Climate Change Bill
Aug 9 2007 // The Association of British Insurers has released new figures on the cost of the June and July floods, and the number of claims received. The ABI broke down the figures as follows: — Total cost: approaching £3...
U.S. May Join Lawsuit Claiming Insurers Defrauded Government Over Katrina Claims
Aug 8 2007 // The U.S. Department of Justice is weighing whether to intervene in a lawsuit that accuses insurance companies of overbilling the federal government for flood damage from Hurricane Katrina, a judge who unsealed the case on...
R&SA Posts $482 Million H1 Profit Despite UK Flood Claims
Aug 8 2007 // The UK’s Royal & SunAlliance enjoyed a prosperous first half of 2007, despite the costly flood losses that hit the UK in June and July. After tax profits for the period were £237 million ($482 million) only...
La. Independent Agents Group CEO Lauds Flood Limitation Rulings
Aug 8 2007 // The CEO of a major insurance agent trade group in Louisiana says two recent federal appeals court decisions affirming flood limitations in property policies will enhance the state’s recovery from Hurricane...
House panel votes to add wind to flood program
Aug 6 2007 // Private insurance companies are balking at a decision by a key House panel to expand the federal flood insurance program to include wind coverage. The House Financial Services Committee voted late last month to add wind...
Agents say ‘no’ or nothing to adding wind coverage in flood program
Aug 6 2007 // Some independent insurance agents are taking a “neutral” position when it comes to adding in wind coverage in the National Flood Insurance Program (NFIP). Still others say “no” to wind...
Agents Errors & Omissions
Aug 6 2007 // If ever there was a time for insurance agents to get out and go looking for a better errors and omissions policy, this is the season. Agents who do will come across several admitted carriers that are welcoming new business...
Editor’s Note: Agents in the wind
Aug 6 2007 // As is so often the case, insurance agents are caught in the middle. This time it’s in the debate over whether to add wind coverage to the federal flood insurance program. Mississippi Congressman Taylor has inserted...
Agents in E&O Buyer’s Seat
Aug 6 2007 // If ever there was a time for insurance agents to get out and go looking for a better errors and omissions policy, this is the season. Agents who do will come across several admitted carriers that are welcoming new business...
News Currents
Aug 6 2007 // Agents say ‘no’ or nothing to adding wind coverage in flood program Some independent insurance agents are taking a “neutral” position when it comes to adding in wind coverage in National Flood...
News Currents
Aug 6 2007 // House panel votes to add wind to flood program Private insurance companies are balking at a decision by a key House panel to expand the federal flood insurance program to include wind coverage. The House Financial Services...
Flood & Peterson Distributes $2.9 Million in Workers’ Comp Dividends
Aug 3 2007 // Flood & Peterson Insurance of Greeley, Colo., has distributed $2.9 million in workers’ compensation dividend checks to 1,600 Colorado clients as a reward for maintaining safe workplaces and because of the...
Fifth Circuit Court Rules in Insurers’ Favor in Katrina Levee Breach Case
Aug 3 2007 // A highly anticipated federal appeals court ruling in a Hurricane Katrina class-action case has insurers breathing a little easier. The Fifth Circuit Court of Appeals in New Orleans ruled Aug. 2, 2007, in In re Katrina...
Zurich Estimates UK June Flood Losses at $400 million
Aug 2 2007 // Zurich Financial Services Group announced that, according to its current “best estimate,” it expects that aggregate claims payments related to storms and floods that occurred in the UK during June 2007 will not...
Marina Operators: Lake Texoma Flood Damage Tops $2 Million
Aug 2 2007 // Flood damage at Lake Texoma marinas is expected to exceed $2 million, marina operators say. Heavy rains last month swelled the lake on the Oklahoma-Texas border to more than 22 feet above its normal level. The lake was at...
FEMA: La. Sees Drop in New Flood Policies
Jul 31 2007 // A large number of people who bought flood insurance after the devastating 2005 hurricane season have not renewed their policies, according to Federal Emergency Management Agency figures. About 100,000 new flood insurance...
Okla. Leads Nation in Disaster Declarations
Jul 30 2007 // A combination of ice storms, flooding rains and tornadoes have left Oklahoma atop a dubious list. So far this year, the state has most federal disaster declarations in the country. Oklahoma has received two declarations...
RMS: U.K. Summer Floods Could Cost Insurers £2.25 Billion
Jul 30 2007 // The June and July floods that gripped parts of the U.K. could cost insurers between £2.25 billion and £3.25 billion in total, according to latest estimates by Risk Management Solutions (RMS). Insured losses from the July...
