Latest Flood Headlines
All the headlines from our Flood Topic Page, ordered by recency.
ACE Q3 Earnings Hit by $90 Million in European Flood Losses
Sep 19 2002 // Bermuda’s ACE Limited announced today that an accumulation of losses resulting principally from the recent floods in Eastern Europe will impact operating income in the third quarter of 2002, by “approximately...
Eastern European Floods Cause Widespread Damage
Sep 16 2002 // The floods that devastated Eastern Europe throughout August may have been caused by global warming, or by one of the 100-200 year storms probability theory predicts, or maybe just bad luck. They were in any case, the most...
PartnerRe Updates 1997 Flood Study
Sep 13 2002 // Bermuda-based PartnerRe announced that it has reprinted its research report, “Floods – Causes, Effects and Risk Assessment, ” following the devastating flooding in Europe in August. Originally published...
CDI Issues C&D Order to Seibels Bruce Subsidiary
Sep 12 2002 // South Carolina-based Seibels Bruce Group Inc. announced that its subsidiary, South Carolina Insurance Company (SCIC), voluntarily agreed with the California Department of Insurance (CADOI) to cease and desist from...
£150 Million Preliminary Estimate of Insured Losses in French Floods
Sep 12 2002 // The cost to France’s insurance industry from the severe flooding in three southeastern departments (See Insurance Journal Website Sept.10) will be around £150 million ($147 million) according to preliminary...
PartnerRe, Converium Estimate E. European Flood Losses
Sep 9 2002 // Bermuda’s PartnerRe upped its earlier loss estimate from claims due to the recent floods in Eastern Europe from around $100 million to between $110 and $120 million. Swiss-based Converium indicated its pretax losses...
Seibels Bruce Group Discloses Order from Ariz. Dept. of Insurance
Aug 28 2002 // The Seibels Bruce Group Inc. announced that it received a Consent Order issued yesterday from the Arizona Department of Insurance (AZDOI) suspending the certificate of authority held by its subsidiary, Consolidated...
Hannover Re, Converium Expect Minimal Flood Losses
Aug 22 2002 // Many analysts expect that the floods in Eastern Europe could end up costing the continent’s insurers as much as $3 billion, but two leading reinsurers, Hannover Re and Converium, both issued statements yesterday...
Insurers Have Limited Exposure to East Europe Flood Claims
Aug 20 2002 // A number of European insurers and reinsurers have indicated that despite the widespread damages caused by the ongoing floods in Germany and Eastern Europe, their exposure to claims is limited. With analysts now increasing...
Heavy Rains Raise Flood Fears in Southern China
Aug 20 2002 // Torrential rains, which have already been responsible for flash floods and landslides that have killed an estimated 250 people, are continuing in China’s heavily populated Hunan Province, raising threats of a...
European Flood Update – Losses in the Billions
Aug 19 2002 // Even as German Chancellor Schroeder met with other European leaders in Berlin on Sunday to find ways of dealing with the unprecedented floods sweeping across Eastern Europe, workers in Budapest struggled to contain the...
Partner Re Reports Claims from European Flooding Could Approach $100M
Aug 19 2002 // Bermuda-based PartnerRe Ltd. reports that claims from its exposures to flooding currently impacting Europe are expected to approximate $100 million. Over the past week, heavy rainfall has flooded much of eastern and...
European Insurers Expect Millions of Euros in Flood Claims
Aug 16 2002 // Many European insurers expect claims totaling millions of euros as flooding that has heavily damaged areas of the Czech Republic and Austria now threaten eastern Germany. Reuters reports that several European...
S&P’s Says Too Early to Assess Czech Floods
Aug 15 2002 // Standard & Poor’s says it is too early to assess the impact of the current floods on the Czech insurance market, but that the lessons of the last great floods five years ago might not have been learnt. Reports...
The Seibels Bruce Group Notes 2ndQ Profit 2002
Aug 13 2002 // South Carolina-based The Seibels Bruce Group Inc., posted a net profit of $1.0 million, or $0.11 per share (basic and diluted) in the second quarter This is compared with a net profit of $1.1 million, or $0.13 per share...
Excess Flood Insurance
Jul 22 2002 // Nuts & Bolts: American Bankers and American Reliable are offering a new Excess Flood Insurance Program. It provides coverage in excess of NFIP building and contents limits. Written in all zones and both commercial and...
NationWide Flood
Jul 22 2002 // Dallas-based NationWide Flood Research Inc. launched TruRisk, a proprietary mapping and risk assessment application that shows where properties lie in relation to special flood hazard areas. NationWide Flood...
Damage from Texas Floods Could Top $1 Billion
Jul 22 2002 // Now that floodwaters in Central and South Texas have begun to recede, officials are anticipating hundreds of millions of dollars in damages to residential and commercial property at a time when the state’s homeowners...
Texas Mobile Home Claims Rise after Flooding
Jul 16 2002 // Foremost Insurance Co., a Michigan-based insurer providing mobile home coverage, announced a gradual increase in claims in the wake of recent flooding in Texas. A.M. Best reports that the company has so far received 270...
TDI Crackdown Nets Seven in Alleged Houston Homeowner Fraud Case
Jul 1 2002 // An investigation by the Texas Department of Insurance (TDI), the Federal Bureau of Investigation (FBI) and the U.S. Postal Inspection Service resulted in the arrest of seven Houston homeowners in connection with an alleged...
