Latest Hurricane Headlines

All the headlines from our Hurricane Topic Page, ordered by recency.

N.Y. Senator Schumer criticizes Allstate’s metro-area retreat

Feb 20 2006 // New York State’s largest provider of homeowners insurance should reconsider its decision to stop writing new policies in the metropolitan area over concerns about hurricane damage, according to Sen. Charles...

What does a ‘Valued Policy’ cover in Louisiana and Mississippi?

Feb 20 2006 // As is obvious from a perusal of newspaper articles and legal journals, the devastating damage throughout the entire Gulf Coast Region from the recent hurricane season has raised numerous legal issues regarding insurance...

Louisiana’s Robert Wooley: Leaving office, not the industry

Feb 20 2006 // Louisiana Insurance Commissioner Robert Wooley announced he would step down as commissioner Feb. 15, 2006, leaving the office he has held since 2000. Although he is returning to the private sector, Wooley indicated he...

News Currents

Feb 19 2006 // As part of his proposal, Gallagher is asking the Legislature to earmark the increase in sales tax revenue collected during hurricane recovery to help offset assessments against homeowners. Florida CFO renews call for...

Louisiana’s Robert Wooley: Leaving office, not the industry

Feb 19 2006 // Louisiana Insurance Commissioner Robert Wooley announced he would step down as commissioner Feb. 15, 2006, leaving the office he has held since 2000. Although he is returning to the private sector, Wooley indicated he...

Feb 19 2006 // Catastrophe funding big on the radar screen for 2006 Some 60 to 70 percent of the estimated $4.7 billion in insured losses caused by Hurricane Rita in September 2005 occurred in Texas. The state experienced 188,000 claims,...

What does a ‘Valued Policy’ cover in Louisiana and Mississippi?

Feb 19 2006 // In general, “Valued Policy” statutes require an insurer to ascertain the value of the property being insured at the time a policy is written and to pay that value to the insured when there is a total loss. As...

Zurich Financial Reports Record Year Despite Hurricanes; Net Profit Up 30%

Feb 17 2006 // Swiss insurance giant Zurich Financial Services posted a 30 percent increase in its 2005 net profits to $3.2 billion, despite heavy charges for last year’s record hurricane season. The full-year profit figure...

SBA Loan Application Necessary for Assistance in Ala. Recovery

Feb 17 2006 // The U.S Department of Homeland Security’s Federal Emergency Management Agency (FEMA) urges Hurricane Katrina survivors who registered for disaster assistance to complete and return the loan application they received...

Best Maintains Stable Outlook on Personal Lines Market Segment

Feb 16 2006 // A.M. Best Co. maintains a stable outlook for the personal lines segment in 2006 based on its favorable risk-adjusted capitalization and consistently strong operating profitability. Despite the impact from an unprecedented...

Houston Man Offers Guilty Plea in Katrina Disaster Fund Scheme

Feb 16 2006 // United States Attorney Chuck Rosenberg reported that Clifford Neville, 53, of Houston, Texas, has been convicted of filing a false claim with the Federal Emergency Management Agency (FEMA) for Hurricane Katrina Disaster...

Windstorm Panelists: Carriers Hesitant to Write Fla. Policies

Feb 15 2006 // A panel of eight insurance experts agreed unanimously that carriers are closely scrutinizing Florida and are hesitant to renew homeowners policies during a panel moderated by Bill Bailey, director of the Hurricane...

GAO: FEMA’s Weaknesses Exposed Government in Hurricane Responses

Feb 15 2006 // As a result of widespread congressional and public interest in the federal response to hurricanes Katrina and Rita, the Government Accountability Office (GAO) conducted an audit of the Individuals and Households Program...

A.M. Best: P/C Industry Reports Underwriting Loss

Feb 14 2006 // Driven by the largest natural catastrophe in U.S. history, Hurricane Katrina, the U.S. property/casualty industry’s underwriting loss was $2.8 billion for the first nine months of 2005, reversing the $3.4 billion...

Case Study Describes Prepaid Card Use After Hurricanes

Feb 14 2006 // A disaster relief case study covering the history and challenges of delivering financial assistance during catastrophes will be presented by Midhael Brackney of the American Red Cross and Gregory Kerwin with JPMorgan Chase...

Miss. Hurricane Victims to Lose Subsidized Hotel Rooms

Feb 13 2006 // More than 1,200 families left homeless in Mississippi by Hurricane Katrina will lose their federally subsidized hotel rooms beginning Monday. Federal Emergency Management Agency officials said Saturday that hotel...

Expert Has ‘Bad News:’ 06′ Hurricane Season Could Repeat 05′

Feb 10 2006 // There is no reason to expect any change in hurricane patterns in the near future, the number of hurricanes have been increasing since 1995 and will continue to do so for the next decade or two, according to Max Mayfield,...

Fairfax Sees Q4 Loss of $318M

Feb 9 2006 // Toronto-based Fairfax Financial Holdings Limited had a net loss of $318.1 million in the fourth quarter of 2005 and $497.9 million for the 2005 year. The falls come after absorbing losses from Hurricanes Katrina, Rita and...

Past, Present and Future Hurricane Issues Top Feb. 8-11 Windstorm Conference Agenda

Feb 8 2006 // Past, present and future hurricane issues, how to prepare for the 2006 hurricane season and what to expect will be discussed during the Feb. 8 to 11 Seventh Annual Windstorm Insurance Conference and Exhibit kicking off...

Argonaut Group Reports Record 2005 Results Despite Hurricanes

Feb 8 2006 // San Antonio-based Argonaut Group Inc. announced financial results for the three months and year ended Dec. 31, 2005, noting that the company’s gross written premiums topped $1 billion for the first time in its...