Latest Hurricane Headlines
All the headlines from our Hurricane Topic Page, ordered by recency.
Hurricane Victims to Submit Multiple Deductible Information
Feb 21 2005 // Homeowners eligible to receive compensation for multiple hurricane deducti-bles have been called on by Florida’s CFO Tom Gallagher to file their applications for relief so they are received in Tallahassee before...
GOV. EASLEY SUGGESTS ‘RAINY DAY FUND’ FOR HURRICANE RELIEF
Feb 21 2005 // With damage estimates after last year’s hurricanes approaching $300 million, Gov. Mike Easley has asked legislators to approve the expenditure of $61 million from the North Carolina Rainy Day Fund. Easley’s...
S&P Report Says Hurricane Losses Puts Pressure on Insurers’ Equity
Feb 18 2005 // The shareholders’ equity of many insurers and reinsurers is coming under greater pressure than anticipated as P/C losses from the 2004 hurricane season continue to rise with new estimates, according to a report by...
March 1 Deadline to Apply for Multiple-Deductible Relief
Feb 18 2005 // March 1 is the deadline for Florida homeowners who paid multiple hurricane deductibles to apply for relief from the state according to Tom Gallagher, Chief Financial Officer. The program was created to avoid the terrible...
PCI Urges Market-Oriented Solutions to Florida’s Hurricane Insurance Issues
Feb 18 2005 // The Florida Joint Select Committee on Hurricane Insurance, meeting in Tallahassee this week, approved a series of recommendations for the Legislature that broadly affect the state’s property insurance market and...
Gallagher Plans Town Hall Meetings in Fla.’s Hurricane-Impacted Areas
Feb 17 2005 // Homeowners with unresolved hurricane damage claims will have a chance next month to discuss their concerns in town hall meetings hosted by Tom Gallagher, Florida’s CEO. The first meeting is tentatively scheduled in...
Citizens Predicts $400 Million Deficit; Fla. Joint Selective Committee to Hear Recommendations Tomorrow
Feb 16 2005 // An estimated $400 million shortfall in Citizens Property Insurance Corp.’s high-risk account was confirmed yesterday by Citizens spokesman Justin Glover in meetings in Orlando with the company’s board of...
Rep. Cannon: Hurricanes Provided Valuable Lesson; Citizens Concerns PIA Members
Feb 15 2005 // The silver lining to last year’s hurricanes proved that without adequate compensation for agents, there will be trouble when claims need to be settled, freshman Rep. Dean Cannon (R-Winter Park) told Professional...
532,000 Fla. Mobile Home Owners Could Face Costly Premium Increases
Feb 14 2005 // Six months after four hurricanes tore through Florida, more than 532,000 mobile home owners in the state could soon face costly premium increases or lose coverage according to Sam Miller, executive vice president of the...
Customers Polled: Foremost Receives High Marks for Processing Hurricane Claims
Feb 11 2005 // Foremost Insurance Group of companies received high marks in a survey done on 3,000 customers who suffered losses from hurricanes in late 2004. The survey had a response rate of 39 percent. Those who responded rated...
Philadelphia Consolidated CEO Pleased with Q4 Report
Feb 11 2005 // Philadelphia Consolidated Holding Corp. on Friday reported net income for the quarter ended Dec. 31, 2004 increased 58.0% to $32.4 million ($1.38 diluted and $1.45 basic earnings per share) from $20.5 million ($0.89...
ISO: Insurers Pay a Record $27.3B in 2004 Cat Losses
Feb 9 2005 // U.S. property/casualty insurers paid a record $27.3 billion for insured property losses to homeowners and businesses from 22 catastrophic events last year—surpassing losses from 2001 that included the Sept. 11...
XL Capital Notes $288M Q4 Profit
Feb 9 2005 // Bermuda-based XL Capital Ltd. reported net income available to ordinary shareholders for the quarter ended Dec. 31, 2004 of $288.0 million, or $2.07 per ordinary share, compared with a net loss of $314.8 million, or a loss...
AXIS Capital Sees Net Income of $495M for Year Ended
Feb 8 2005 // Bermuda-based AXIS Capital Holdings Ltd. has reported net income for the year ended Dec. 31, 2004 of $495.0 million, or $2.98 per diluted share, compared to $532.3 million, or $3.42 per diluted share, for the year ended...
Zurich Estimates Tsunami, Hurricane Losses at $185M
Feb 7 2005 // Zurich Financial Services Group (Zurich) expects claims related to the tsunami that struck South Asia on Dec. 26, 2004 to cost approximately $65 million after tax and net of reinsurance. The aggregate amount of expected...
ACE USA Unveils ACE Spectra
Feb 7 2005 // ACE USA, the U.S.-based retail operations of The ACE Group of Companies has introduced ACE Spectra, an admitted insurance product that provides coverage for property damage and business interruption resulting from a...
Foxes Watching the Hen-House
Feb 7 2005 // Four months before the hurricane season, storm clouds are forming due to insurance reform measures suggested by Sen. Ron Klein, D-Boca Raton. Klein told South Florida television stations and newspapers it’s essential...
Insurance Concerns on Fla. Agenda
Feb 7 2005 // The Florida Legislature is considering numerous actions during spring sessions, including taking a close look at preparedness for the upcoming hurricane season, now five months away; implementing single-deductibles;...
N.C. Gov. Easley Suggest Using ‘Rainy Day Fund’ for Hurricane Relief
Feb 3 2005 // With damage estimates after last year’s hurricanes approaching $300 million, North Carolina Gov. Mike Easley has asked legislators to approve spending $61 million from the state’s rainy day fund to assist...
Hurricane Center Director: Predictions Imprecise, But Keep Getting Better
Feb 3 2005 // Predicting the weather in general and hurricanes in particular can be a very imprecise science, Max Mayfield, director of the Tropical Prediction Center/National Hurricane Center in Miami told more than 500 Windstorm...
