Latest Hurricane Headlines
All the headlines from our Hurricane Topic Page, ordered by recency.
Jobless Claims in La. Reach Historic Levels After Hurricanes
Oct 14 2005 // The Louisiana Department of Labor reported it has paid out more than $3 million in Unemployment Insurance and Disaster Unemployment Assistance benefits to victims of Hurricane Rita, while Katrina claims have topped $181...
Hurricanes Slow Aviation Premium Cuts, Report Says
Oct 14 2005 // The decline in airline insurance premium rates will slow during the October to December renewal season, despite a good industry safety record in 2005, according to the “Airline Insurance Market Review,” a new...
Best Downgrades FSR of Mississippi Farm Bureau Mutual Insurance Co.
Oct 14 2005 // A.M. Best Co. has downgraded the financial strength rating to A- (Excellent) from A+ (Superior) of Mississippi Farm Bureau Mutual Insurance Company (MFB) (Jackson). The rating remains under review with negative...
Horace Mann Estimates Hurricane Loss
Oct 13 2005 // Illinois-based Horace Mann Educators Corporation estimates its financial impact from Hurricanes Katrina and Rita will total approximately $29 million to $33 million pretax, net of anticipated reinsurance...
Specialty Underwriters’ Alliance: No Expected Losses from Hurricanes
Oct 13 2005 // Chicago-based Specialty Underwriters’ Alliance Inc. reported that it does not expect any losses related to the recent hurricane activity. SUA President and Chief Executive Officer Courtney Smith stated, “Our...
CNA Takes $280M Hit from Hurricanes
Oct 12 2005 // CNA Financial Corporation announced that its preliminary estimate of losses relating to Hurricane Katrina is approximately $280 million, after-tax. This estimate includes pretax gross commercial losses and loss expenses of...
Agreement Reached: Nationwide to Audit Last Year’s Florida Hurricane Claims, Correct Underpayments
Oct 12 2005 // Nationwide Insurance has reached an agreement with the Florida Office of Insurance Regulation to audit its claims from the 2004 hurricane season and correct any underpayments. OIR announced that under the agreement...
Three Mississippians Charged for Making False Hurricane Katrina Claims
Oct 11 2005 // Three Mississippi residents have been accused of making false claims to the Federal Emergency Management Agency for Hurricane Katrina relief funds. Dunn Lampton, U.S. Attorney for the southern district of Mississippi, told...
Arch Gives Q3 Loss Estimates
Oct 11 2005 // The Bermuda-based Arch Capital Group Ltd. announced that it expects 2005 third quarter operating earnings to be negatively impacted by the effects of recent catastrophic events as follows: Hurricane Katrina – $173...
Fitch Maintains PXRE’s Watch Negative After Capital Raising
Oct 11 2005 // Fitch Ratings indicated that its ratings for the bermuda-based PXRE Group Ltd. and its operating subsidiaries would “remain on Rating Watch Negative following PXRE’s successful capital raising in the form of...
Safeco: Rita Losses at $27 Million
Oct 11 2005 // Seattle-based Safeco announced estimated after-tax catastrophe losses from Hurricane Rita of $27 million, or $0.21 per diluted share. Pretax catastrophe losses from the storm are estimated at $42 million. These figures...
Fireman’s Fund Offering Grants to Rebuild Fire Departments
Oct 11 2005 // Fireman’s Fund Insurance Co. (Fireman’s Fund), Novato, Calif., has announced an initiative to support fire departments rebuilding in the aftermath of Hurricane Katrina. Grants will be awarded to replace...
Meadowbrook Expects No Big Hits from Hurricane Rita
Oct 11 2005 // Meadowbrook Insurance Group, Inc. today reported that the company does not expect its net losses related to Hurricane Rita to be material. Meadowbrook’s insurance programs are generally structured to avoid geographic...
New Tax Law Eases Loss Limitations for Katrina Victims
Oct 11 2005 // The Internal Revenue Service is advising taxpayers who suffered casualty or theft losses as a result of Hurricane Katrina about a recent change to the tax law. A new provision lifts certain loss limitations for Hurricane...
Goshawk Ups Hurricane Loss Estimates; Plans to Raise Capital
Oct 10 2005 // The U.K.’s Goshawk Insurance Holdings plc announced that it has increased its gross hurricane loss estimates from by 30 percent – from $99 million to $130 million. For Katrina Goshawk’s estimate is now up...
Hiscox: Rita Losses $70 Million; Ups Katrina Estimates, 2006 Premium Limit
Oct 10 2005 // The U.K.-based Lloyd’s and specialty insurer Hiscox Plc issued a statement indicating that its preliminary loss estimates from Hurricane Rita are around $70 million. Hiscox also said that, based on current industry...
Allstate Ordered to Cover Expenses of Rita Evacuees
Oct 10 2005 // A state judge in Texas has ordered Allstate Insurance Co. to cover the living expenses of its Texas policyholders displaced by Hurricane Rita last month. Acting on a petition filed by the attorney general and the Texas...
OdysseyRe Updates Katrina Losses to $225 Million; Rita Loss $50 Million; Announces $102 Million Share Sale
Oct 7 2005 // Odyssey Re Holdings Corp., which is 80 percent owned by Canada’s Fairfax Financial Holdings Limited, announced from its Stamford Conn. headquarters that it has updated its estimate of losses from Hurricane...
Berkley Updates Q3 Losses
Oct 7 2005 // W. R. Berkley Corp. reported its estimate of aggregate losses attributable to hurricanes in the third quarter of 2005 to be approximately $50 million pre-tax and $32 million (or 24 cents per share) after-tax. The...
Republic Says Losses from Rita and Katrina Should Fall Within Expectations
Oct 6 2005 // Dallas-based Republic Companies Group Inc. released information regarding its response to the recent hurricanes and the financial effects on the company’s third quarter results. Its personnel and representatives were...
