Latest Hurricane Headlines
All the headlines from our Hurricane Topic Page, ordered by recency.
Homeowners Want ‘Uncovered Perils’ Clarified; Fla. Legislators Won’t Budge
Apr 1 2005 // Homeowners with outstanding claims for hurricane damage and their attorneys, insurance company lobbyists and Florida’s House Insurance Committee members all disagree about if an insurance company is liable if a...
Q4 Rescues Hannover Re 2004 Profits from Hurricanes
Mar 30 2005 // Germany’s Hannover Re Group reported 309.1 million euros ($400 million) net after tax income for 2004, down 12.9 percent from 2003’s 354.8 million euros ($459.8 million). The company’s earnings report,...
Fla. Senate Committee Postpones Insurance Bill Until Next Week; Industry Hopes for ‘More Balanced’ Approach
Mar 30 2005 // Insurance industry representatives hope the announcement of the postponement until next week of an insurance bill now before the Senate Banking and Insurance Committee signals that a “more balanced” bill will...
Fitch Says P/C Views Record U.S. Catastrophe Losses in 2004, However Profitability Moves Up
Mar 30 2005 // The U.S. property and casualty industry posted stronger underwriting results and profitability in 2004 relative to 2003, despite sharp increases in catastrophe losses for many market participants related to the...
Carvill Report Indicates “Bermuda High” is Crucial Hurricane Factor
Mar 29 2005 // The ReAdvisory group of Carvill, a leading specialty reinsurance intermediary, has released a white paper, which concludes that the location of the “Bermuda High” pressure system is crucial in determining...
Fla. Legislators Hammering Out Property Insurance Regulations, Changes
Mar 25 2005 // Major changes in Florida’s property insurance system are being mulled over by Florida lawmakers after the House and Senate have both been wrestling with the topic and have now hammered out changes to tighten up the...
IBM Computers Weathered Ivan’s Onslaught
Mar 22 2005 // IBM has issued a bulletin noting the reliability of its iSeries system, which withstood Hurricane Ivan’s fury when it struck the Cayman Islands. The report details the experience of British Caymanian Insurance, part...
PCI: Fla. Hurricane Cat Fund Changes are Key to Property Market Stability
Mar 22 2005 // The Property Casualty Insurers Association of America (PCI) is urging the Florida Legislature to establish an annual hurricane deductible for insurers and lower the threshold of losses that an insurer must sustain before...
Florida, Alabama Get Tough on Unpaid Claims
Mar 21 2005 // Thousands of irate homeowners mobbed state insurance officials in Florida and Alabama to complain about a wait of more than six months for their claims to be settled from the 2004 hurricanes. Tom Gall-agher, Florida Chief...
Commissioner Bell to Chair Ala. ‘Insurance Hurricane Issues Task Force’
Mar 21 2005 // Alabama Insurance Commissioner Walter A. Bell has been named to chair a 20-member “Insurance Hurricane Issues Task Force” formed by Gov. Bob Riley to study hurricane insurance issues in coastal Alabama. Members...
Victims Ask for Help at Town Hall Meetings; Gallagher to Propose ‘Standard’ Policies
Mar 21 2005 // Tom Gallagher, Florida’s CEO and House Insurance Committee Chair Rep. Dennis A. Ross, R-Lakeland, listened intently to an array of hurricane-related complaints – from families with nowhere to live to homeowners...
Fla. Cabinet’s Emergency Rule ‘Holds Insurers Feet to the Fire’ to Expedite Open Hurricane Claims
Mar 18 2005 // In response to a call by the Florida’s Chief Financial Officer Tom Gallagher, Gov. Jeb Bush and the Cabinet has approved an emergency rule to expedite the resolution of open claims from last year’s tropical...
Florida Bill Would Drop Collective Deductible, But Would Incur Long-Range Costs for Consumers
Mar 17 2005 // A bill that is moving through the Florida House of Representatives could leave consumers and businesses with a hefty bill if the Florida Hurricane Catastrophe Fund is wiped out after a major hurricane. The proposed...
Main Street America Posts 14.4 Percent Return on Equity
Mar 15 2005 // The Main Street America Group of Jacksonville, Fla. has announced that its return on equity in 2004 was 14.4 percent, its second consecutive year of strong ROE performance. In 2003, the Jacksonville, Fla.-based insurance...
Computer Models Reassess Fla. Hurricane Risk Following Busy 2004 Season
Mar 14 2005 // New computer models show higher chances of hurricane strikes to Florida, and a 3.9 percent increase in predicted losses. In parts of the state, particularly Escambia County, the program boosts predicted losses as much as...
Hurricanes Lower Hiscox 2004 Profits to $148 Million
Mar 14 2005 // U.K. insurer Hiscox plc reported a drop in profits for 2004 of around 8 percent, posting a net figure of £77 million ($148.1 million), compared to £83.4 million ($160.5 million) in 2003, as losses from the Florida...
Aon Units Release Global Climate/Catastrophe Report
Mar 11 2005 // Two Aon subsidiaries, Aon Re Global and Impact Forecasting, LLC, have released a report on 2004’s natural catastrophes, describing “a year of freakish weather patterns, ending with the worst natural disaster in...
Ala. Homeowners Concerned About Possibility of Losing Hurricane Coverage
Mar 10 2005 // Rumors that several insurance companies plan to drop hurricane coverage in Mobile, Ala. has consumers abuzz and requests being made to the Alabama Legislature to do something to prevent homeowners from losing their...
Fla. Homeowner Arrested for False Hurricane Claim
Mar 9 2005 // A Cocoa Beach, Fla. homeowner is facing a felony charge for filing a false insurance claim allegedly claiming that renovation work to his home was the result of hurricane damage. Robert Milliken of 744 S. Orlando Ave. #...
Berkshire Hathaway Chairman Warren Buffett on Insurance Economics and 2004 Results
Mar 8 2005 // By Chairman Warren Buffett’s own admission, Berkshire Hathaway Inc. did not have one of its best years in 2004. Last year, Berkshire’s book-value gain of 10.5% fell short of the S&P 500 Index’s 10.9%...
