Latest Hurricane Headlines
All the headlines from our Hurricane Topic Page, ordered by recency.
Barbecues, Mobile Centers Encourage Auto Owners to Turn in Wilma Claims
Nov 20 2005 // South Florida insurance agents encouraged the thousands of automobile owners who had vehicle damage during Hurricane Wilma to report them as soon as possible so they could be repaired, some agencies even held weekend...
Fla. CFO Gallagher Voices Support for Tax-Deferred CAT Fund Reserves
Nov 20 2005 // The serious challenge to Florida’s economy, the rising cost of property insurance and five solutions to hurricane issues were discussed on Nov. 7 in Tallahassee by Florida’s CFO Tom Gallagher at a briefing...
Carriers Flooded With Auto Damage Claims
Nov 20 2005 // Plantation, Fla., ‘Insurance Village’ The “Insurance Village” established by Florida’s Depart-ment of Financial Services in Plantation, Fla. west of Fort Lauderdale, had a lot of damaged...
News Briefs
Nov 20 2005 // FloridaFAIA Likes Due-Diligence Decision The Florida Association of Insu-rance Agents has filed an amicus (friend of the court) brief with the First District Court of Appeals in a case involving an insurance agent who...
News Currents
Nov 20 2005 // Hurricane Rita Claims Expected to Hit $4.7 Billion Majority of losses sustained in Louisiana, Texas. The Insurances Services Office expects property and casualty losses from Hurricane Rita to hit $4.7 billion, with the...
Hurricanes Katrina and Rita: Exposing Settled (?) Insurance Coverage Issues
Nov 20 2005 // After any natural disaster, people who suffered property damage eventually look for sources of money to repair their damage and/or replace their loss with insurance being the first source for those with policies. In this...
News Briefs
Nov 20 2005 // Arkansas Mobile Home Lawsuit Dismissed The Arkansas Court of Appeals dismissed a lawsuit filed by Nationwide Mutu-al Fire Insurance Co. over payment of a claim after a mobile home caught fire in Beebe, Ark. The Associated...
Carrier Watch is provided by LMC Capital
Nov 20 2005 // Stock Prices: Despite the devastation caused by the three major hurricanes which struck the Gulf Coast and parts of Florida sending reinsurers scrambling to raise money to prevent ratings downgrades, commercial lines...
Hurricanes Rita, Katrina Impact Progressive’s October Results
Nov 17 2005 // The Progressive Corporation today reported its financial results for October 2005. Net premiums written were $1.328.1 million, a 4 percent increase from $1,279.8 million in October 2004. Net premiums earned were $1,340...
Gulf Coast Firm Unveils Law Weblog for Hurricane-Affected Areas
Nov 16 2005 // McGlinchey Stafford PLLC, a law firm based in the Gulf Coast region, has launched a comprehensive resource for companies with business interests in hurricane-affected areas. The blog, found at www.hurricanelawblog.com,...
CORRECTION: Brit Estimates Wilma Claims at $65 Million; Total Hurricane Losses at $316.5 Million
Nov 16 2005 // The original article contained a significant mathematical error. U.K.-based international insurer and reinsurer, Brit Insurance Holdings PLC, announced that claims arising from Hurricane Wilma, net of reinsurance...
FEMA Pushing Dec. 1 Motel Check-Out for 53,000 Hurricane Families
Nov 16 2005 // The Department of Homeland Security’s Federal Emergency Management Agency (FEMA) is moving to end its subsidies for hotel and motel rooms for 53,000 families displaced by Hurricanes Katrina and Rita. On Dec. 1, 2005...
No Rate Change for TWIA; Texas Insurer Groups Question Why
Nov 16 2005 // Texas Insurance Commissioner Mike Geeslin ordered the rates of homeowners that purchase windstorm coverage from the Texas Windstorm Insurance Association (TWIA) to remain unchanged, while increasing commercial rates five...
Commissioner Wooley Supports Uniform Building Codes in La.
Nov 16 2005 // The Louisiana Department of Insurance released the following statement by Commissioner of Insurance Robert Wooley to the Louisiana Legislature expressing his support for the establishment of statewide uniform building code...
Major N.Y. Hurricane Would Cost $100 Billion, Warns Cat Model Firm AIR
Nov 16 2005 // A major hurricane making landfall in the New York City metropolitan area would result in approximately $50 billion of insured losses with total economic losses exceeding $100 billion, according to an expert testifying...
St. Paul Travelers: Initial Wilma Losses About $220M After Tax
Nov 16 2005 // The St. Paul Travelers Companies Inc. announced that its preliminary estimate for catastrophe losses relating to Hurricane Wilma is approximately $220 million, after tax, net of reinsurance. This amount is based upon an...
U.K.’s Omega Underwriting to Raise $157 Million; Forming Bermuda Sub
Nov 14 2005 // The U.K.’s Omega Underwriting Holdings PLC, a leading Lloyd’s insurer (Syndicate 958), has announced plans to raise £90 million ($157 million), both to increase syndicate capacity and to support the...
Allianz Posts $934 Million Q3 Profit Despite Hurricane, Flood Losses
Nov 14 2005 // Germany’s Allianz had a very successful third quarter with net income up 70 percent to €794 million ($934 million) and €1.7 billion (2 billion) operating profit,” despite,” said the company’s...
La.’s Disaster Hurricane Unemployment Assistance Filing Deadline Draws Near
Nov 14 2005 // The Louisiana Department of Labor reported that time is running out for individuals who are eligible to apply for Disaster Unemployment Assistance (DUA) as a result of Hurricanes Katrina and Rita. The deadline to file is...
S&P Assigns Ratings to Platinum’s $750 Million Debt Issue
Nov 10 2005 // Standard & Poor’s Ratings Services announced that it has assigned its preliminary “BBB” senior debt, “BBB-” subordinated debt, and “BB+” preferred stock ratings to the $750...
