Latest Hurricane Headlines
All the headlines from our Hurricane Topic Page, ordered by recency.
Miss. Commissioner Dale: Leader, Follower or Shill?
Jan 30 2006 // George Dale walks a tightrope in his job as Mississippi’s insurance commissioner. He is charged with the responsibility of regulating the industry that provides most of his election support while protecting consumers...
Survey Confirms 4th Quarter Spike in Property Insurance Rates Due to Hurricanes
Jan 30 2006 // Property insurance rates increased sharply in the fourth quarter of 2005, according to the RIMS Benchmark Survey by the Risk and Inurance Management Society Inc. Reversing a two-year trend of steadily falling property...
Florida Didn’t Make Sure Hurricane Payments Were Legit
Jan 30 2006 // Florida officials didn’t confirm the legitimacy of some hurricane claims before it paid out more than $150 million as part of an agreement to share the cost with Washington, a state audit has found. As part of a deal...
La. Gov. Says Wait for FEMA Standards is Delaying Recovery
Jan 27 2006 // The wait for federal standards for home building is hampering Louisiana’s hurricane reconstruction efforts, according to Louisiana Gov. Kathleen Blanco. The Federal Emergency Management Agency is developing a new set...
NFIP Seeks $5.6B Loan; Sen. Shelby Vows Rating Overhaul
Jan 27 2006 // The National Flood Insurance Program (NFIP) says it needs to borrow an additional $5.6 billion to cover claims and expenses for 2006. Projections indicate that its payments will reach its existing $18.5 billion borrowing...
Hurricane Center Upgrades Tropical Storm Cindy to Hurricane Status
Jan 27 2006 // Tropical Storm Cindy has been upgraded to hurricane status by the National Hurricane Center in Miami. Accumulated data analyzed by NHC indicates that Cindy was “a relatively short-lived tropical cyclone,” but...
Fla. Sales Tax Break on Hurricane Supplies Moves Forward
Jan 26 2006 // Floridians could buy flashlights, tarps, radios, batteries, generators and other hurricane necessities tax free the week before the storm season starts under a bill approved Wednesday by a Senate committee. The measure (SB...
Lloyd’s Comments on Cat Models
Jan 26 2006 // “Catastrophe models are useful, but have their limits,” says a comment on the Lloyd’s Web site (www.lloyds.com). “That is the lesson learnt by the insurance industry following last year’s...
Insurers Urge New Bonding Measures for Texas Cat Fund
Jan 26 2006 // Members of the Association of Fire And Casualty Companies of Texas (AFACT) are recommending new bonding measures that would prepare the state for the start of what’s expected to be another turbulent hurricane...
The Hartford Sees Q4 2005 Net Income of $474 Million
Jan 26 2006 // The Hartford Financial Services Group Inc. reported fourth quarter 2005 net income of $474 million, or $1.53 per diluted share. The company’s net income reached $2.3 billion for the year, a new record for the...
Windstorm Conference Speaker Bailey Predicts Wind vs. Flood Suits Won’t Succeed
Jan 25 2006 // The controversy over litigation about wind vs. flood damage and what could happen in the market place and to the industry if Mississippi Attorney General James Hood and attorney Richard ‘Dickie’ Scruggs are...
IPC Holdings Updates 2005 Hurricane Loss estimates to $744 Million
Jan 24 2006 // Bermuda-based IPC Holdings, Ltd. has updated, which is to say increased, the estimated impact on its 2005 results from hurricanes Katrina, Rita and Wilma. “Based upon current analysis, which has been updated using...
S. Fla. Homeowners Warned ‘Be Wary’ of Hurricane Repair Contractors
Jan 24 2006 // Consumer advocates are warning South Florida homeowners to be wary of contractors who take deposits up front for hurricane repairs or shutter installations. For example, officials said a company called Palms West Shutter...
FBI Uncovers Fraud in Miss., Creates Hurricane Task Force on Corruption
Jan 24 2006 // The FBI has uncovered fraud by public officials in the wake of Hurricane Katrina and has created a task force to investigate corruption as federal money pours into the Gulf Coast region, Mississippi’s top agent told...
S&P Sees ‘Little Impact’ on Ratings from Hurricane Estimate Differences
Jan 24 2006 // A self-descriptive article from Standard & Poor’s Ratings Services -“Increases In Hurricane Loss Estimates To Have Little Impact On Insurer Ratings -” clarifies some questions concerning the actual...
Calif. Commissioner, Auto Club Warn Consumers of Flood-Damaged Cars
Jan 24 2006 // California Insurance Commissioner John Garamendi joined the Automobile Club of Southern California Tuesday to warn Southland used-car buyers who might be duped into purchasing a flood-damaged vehicle hauled from...
Miss. Expert Says Hurricane Cycle Began in 1995, Still Going Strong
Jan 24 2006 // Hurricane Katrina brought much death and destruction to Mississippi and Louisiana, and upcoming hurricane seasons could be just as dangerous, according to Partick J. Fitzpatrick, a Mississippi State University...
Florida Candidates for Governor Pledge to Solve Citizens Problems, Add Insurers
Jan 23 2006 // Solving Citizens Property Insurance Corp.’s problems, encouraging new insurers to enter the Florida market and lowering property insurance rates were debated by candidates for governor of Florida during a Jan. 20...
N.Y. Lawmakers Call for Federal, State Catastrophe Funds
Jan 23 2006 // Three elected representatives from New York joined with a leading homeowner’s insurance company last week in a call for increased government involvement in providing reinsurance for catastrophes. Congressman Steve...
I.I.I.: CLAIMS IN LA. EQUAL TO 25 YEARS OF PREMIUMS
Jan 23 2006 // The record total of homeowners insurance claims payments resulting from the 2005 hurricanes in Louisiana is enough to wipe out all homeowners premiums paid in the state during the past 25 years, as well as every dollar of...
