Latest Flood Headlines
All the headlines from our Flood Topic Page, ordered by recency.
Fraud, Leaving its Prints on the Industry
Jan 13 2003 // Fraud, in all forms, is as old as the industry itself. Given a struggling economy, the temptation to create fraud against or within the industry has been on the upswing recently. According to Jim Quiggle, director of...
Bankers Sells First Community, Flood Renewal Rights
Jan 10 2003 // Officials of St. Petersburg, Fla.-based Bankers Insurance Group announced the sale of selected assets to Fidelity National Financial and Fidelity National Insurance Services has been finalized. In the sale, Fidelity...
PIA Lauds House Vote to Reauthorize National Flood Program
Jan 9 2003 // The National Association of Professional Insurance Agents (PIA National) applauded Wednesday’s vote by the U.S. House of Representatives to reauthorize the National Flood Insurance Program (NFIP). Statutory authority...
Warnings Abound as Winter Hits Europe
Jan 6 2003 // Blizzards in France, floods in the U.K. and Germany, avalanches in the Alps – winter hit Europe particularly hard over the weekend. An unusually heavy snowfall in Northern France shut down the country’s main...
Munich Re Estimates 2002 Insured Losses from Catastrophes at $11.5 Billion
Dec 30 2002 // In a yearly review released today Munich Re calculates the overall economic losses from natural and man-made catastrophes in 2002 at a staggering $55 billion, compared to $35 billion last year. However, the world’s...
Preliminary Swiss Re sigma Report Confirms 2002 “Below Average” Year for Catastrophe Losses
Dec 19 2002 // Swiss Re has issued some preliminary findings from its forthcoming sigma report on the world’s catastrophes in 2002. Initial estimates show that it was a relatively benign year. Although “19,000 people world...
NAIC Adopts Resolution as Flood Insurance Program Sunsets
Dec 17 2002 // Acting within hours of a request for assistance from the Federal Emergency Management Agency (FEMA), the National Association of Insurance Commissioners’ Property and Casualty Committee adopted a resolution to...
PIA National Requests Executive Order on Reauthorization of National Flood Program
Dec 5 2002 // The National Association of Professional Insurance Agents (PIA National) has filed a request with the Federal Insurance and Mitigation Administration (FIMA), asking that it explore obtaining an Executive Order from...
Report Swiss Flood Losses Estimated at $27 Million
Nov 29 2002 // The Swiss Insurance Association has estimated that the recent flooding in the country’s alpine valleys has caused at least SwF 40 million ($27 million) in damages. According to a report from Dow Jones Newswire, the...
Seibels Bruce Sells Flood Business to The Hartford
Nov 19 2002 // The Seibels Bruce Group Inc. of Columbia, S.C. completed a transaction with The Hartford Financial Services Group Inc., under which The Hartford acquired the right to renew or assume all of Seibels Bruce’s in-force...
Swiss Re Report Urges Reinsurers to ‘Get-back-to-Basics’
Nov 11 2002 // Swiss Re has issued a new “Focus” report at the Baden-Baden reinsurance meetings urging the world’s reinsurers to “get-back-to-basics” in their approach to natural catastrophe underwriting as...
Swiss Re Report Urges Reinsurers to “Get-back-to-Basics”
Oct 25 2002 // Swiss Re announced that it has issued a new “Focus” report at the Baden-Baden reinsurance meetings urging the world’s reinsurers to “get-back-to-basics” in their approach to natural...
IPC Holdings Reports Strong 3Q, 9 Month Gains
Oct 23 2002 // Bermuda-based IPC Holdings, Ltd. joined the growing number of reinsurers celebrating a good third quarter, as the company announced that its net operating income, which excludes net realized gains and losses, was $46.6...
XL Estimates European Flood Losses at $50 Million, Investment Downturn to Affect Earnings
Oct 15 2002 // XL Capital Ltd. led off the Bermuda Angle Conference at the Fairmount Southampton Princess Hotel in Bermuda with the announcement that the company’s 3rd quarter earnings would be hit by an estimated net loss from the...
Selective, Siebels Bruce Back Out of Flood Insurance Deal
Oct 3 2002 // The Seibels Bruce Group Inc. and Selective Insurance Company of America announced that the letter of intent to transfer the former’s flood insurance servicing rights to the latter has been mutually terminated due to...
Selective to Buy Servicing Rights to Siebels Bruce Flood Insurance
Oct 2 2002 // Selective Insurance Group Inc. of Branchville, N.J. announced its Selective Insurance Company of America subsidiary signed a letter of intent to acquire servicing rights to Siebels Bruce Group Inc.’s flood insurance...
La. DOI Estimates Isidore’s Insured Damages at $100 Million
Oct 1 2002 // Acting Louisiana Insurance Commissioner Robert Wooley upped the insured damages from Tropical Storm Isidore in southern Louisiana to $100 million, after the Department of Insurance compiled an an estimate of preliminary...
Isidore Dumps Heavy Rain on Region
Sep 27 2002 // It may have been downgraded to a “Tropical Depression” by the National Hurricane Center, but Isidore has nonetheless brought heavy rains and created flood conditions to much of the Eastern U.S. After its first...
Chubb, Hartford, Agree to $22M Settlement with Reno/Tahoe Int. Airport
Sep 26 2002 // Settling a four-year legal battle, The Chubb Group of Insurance Companies and The Hartford Insurance Company have agreed to pay Reno/Tahoe International Airport a total of $22 million for a flood insurance claim related to...
Nationwide Flood Research Launches Marketing Service for Agents
Sep 25 2002 // Dallas-based NationWide Flood Research Inc. (NFRI) announced it has launched AtRisk, a three-step marketing service that helps insurance professionals locate potential customers and cross-sell flood policies to existing...
