Latest Hurricane Headlines
All the headlines from our Hurricane Topic Page, ordered by recency.
Florida moving ahead with commercial lines reinsurance pool
Aug 7 2006 // Florida is moving to reactivate a state-run reinsurance pool for commercial lines insurance to help businesses obtain insurance. The Commercial Joint Underwriting Association (JUA) is intended to provide property insurance...
Vesta liquidation by Texas felt from Florida to Mass.
Aug 7 2006 // Some 70,000 Florida, 150,000 Texas, 5,200 Massachusetts and 11,000 New Jersey policyholders are among those affected by the liquidation of Vesta Fire Insurance Co. and its subsidiaries. Texas regulators placed the company...
Marine market responds to stressed catastrophic property coverage
Aug 7 2006 // A recent Wall Street Journal story proclaimed, “As Hurricane Season Begins, Disaster Insurance Runs Short.” Indeed, the stark headline in the July 10 article mirrors the market reality: There is a severe lack...
Insuring energy risks for profit isn’t getting any easier
Aug 7 2006 // Recent experiences need to be translated into quality underwriting standards for the future Underwriting energy risks is not for the faint-hearted, even during the best of times. The nature of these risks (with high...
Wagging the dog
Aug 7 2006 // Reinsurance woes send primary carriers scrambling Until recently the reinsurance world was a galaxy far, far away. That changed after the 2000 stock market crash, the Sept. 11 attacks and, more recently, the hurricanes...
Figures
Aug 7 2006 // 100 The number of federal lawmakers from both parties that asked the Federal Deposit Insurance Corp. to put a hold on the efforts of various U.S. companies, including Wal-Mart, to open banks. Federal bank regulators halted...
Marine market responds to stressed catastrophic property coverage
Aug 7 2006 // The marine market, although not immune to severe weather and other catastrophic occurrences, has not suffered to the extent of the mainline commercial property sector. A recent Wall Street Journal story proclaimed,...
Marine market responds to stressed catastrophic property coverage
Aug 7 2006 // The marine market, although not immune to severe weather and other catastrophic occurrences, has not suffered to the extent of the mainline commercial property sector. As such, industry players have sought to fill gaps in...
Wagging the dog
Aug 7 2006 // Until recently the reinsurance world was a galaxy far, far away. That changed after the 2000 stock market crash, the Sept. 11 attacks and, more recently, the hurricanes that struck Florida, New Orleans, Texas and other...
Insuring energy risks for profit isn’t getting any easier
Aug 7 2006 // Underwriting energy risks is not for the faint-hearted, even during the best of times. The nature of these risks (with high concentration of values, highly flammable substances, harsh operating conditions, often in hostile...
Court Refuses Quick Decision on La. Insurance Suit Extensions
Aug 4 2006 // A decision on the constitutionality of new state laws giving hurricane-affected homeowners in Louisiana an extra year to sue their insurance companies will not be expedited by a court, the state’s top insurance...
Post-Hurricane Population Count Under Way in New Orleans
Aug 3 2006 // A door-to-door population count is being conducted in parishes hit the hardest by Hurricane Katrina to get a handle on how many people remain in the area. The survey covers Jefferson, Plaquemines, St. Bernard and Orleans...
Pinnacle Entertainment Files Lawsuit Against Three Insurers
Aug 3 2006 // Pinnacle Entertainment Inc. announced that, on August 1, 2006, it filed suit in the U.S. District Court for the District of Nevada against three of its excess insurance carriers. The suit relates to the loss incurred by...
Fla. Gov. Bush Eyes State Pool for Commercial Lines
Jul 30 2006 // Florida Gov. Jeb Bush is considering a state-run reinsurance pool or joint underwriting pool to help businesses that can’t get policies from private insurers, saying that if companies can’t get coverage, it...
La. Wants Hurricane Law Suit Extension Issue Settled in State Court
Jul 28 2006 // Louisiana plans to fight attempts by Allstate Corp. to have a federal court determine if new laws giving homeowners two years to file lawsuits against their insurers is legal. Allstate filed a suit July 20 asking U.S....
Hazard Mitigation Grant Money Bolstering Fla. Improvement Projects
Jul 27 2006 // Manatee County, Fla. is installing state-of-the-art hurricane shutters on facilities responsible for treating and testing the county’s water supply; while Leesburg, Fla. in Lake County, is placing windproof hurricane...
Allstate Says it Can Drop Basic Hurricane Coverage in La.
Jul 26 2006 // Allstate Insurance Co. officials say Louisiana state law allows the company to drop basic hurricane coverage for 30,000 policyholders in 18 coastal parishes – a stand that state Insurance Commission Jim Donelon is...
FEMA Working With Apartment Owners on Evacuee Recertification in Texas
Jul 25 2006 // The Federal Emergency Management Agency announced it is working with the Texas Apartment Association and rental housing owners to reach Hurricane Rita and Hurricane Katrina evacuees who have not recertified for continued...
Former FEMA director promotes government-industry disaster mediation
Jul 24 2006 // Federal and state governments should work with private insurance companies to sponsor disaster mediation programs, according to a former head of the Federal Emergency Management Agency. James Lee Witt, president of James...
News Currents
Jul 24 2006 // Witt pointed out that as he looks across Florida, the Gulf coast states and America, he has recently seen more devastating events than have ever been witnessed in the history of the nation. He said that in today’s...
