Latest Hurricane Headlines
All the headlines from our Hurricane Topic Page, ordered by recency.
Puerto Rico Bond Insurers’ Stocks Fall After ’60 Minutes’ Episode on Hurricane Maria
Nov 7 2017 // Shares of three major bond insurance firms with exposure to Puerto Rico fell on Monday after a “60 Minutes” episode aired on Sunday highlighted the extensive damage wreaked on the island by Hurricane...
Berkshire Insurance Units Take Q3 Hit from U.S. Hurricanes, Mexico Earthquake
Nov 6 2017 // Bad weather hurt Warren Buffett’s Berkshire Hathaway Inc. in the third quarter, as insurance losses tied to Hurricanes Harvey, Irma and Maria and an earthquake in Mexico contributed to a 43 percent drop in...
Does a CPP Cover Trees Knocked Over by a Hurricane?
Nov 6 2017 // When a hurricane blows through, it isn’t just the trees on a homeowner’s property that could be damaged. There could be trees on a business’ property that are damaged as well. Does the commercial property...
How Warming Seas Could Cost South Carolina $12 Billion
Nov 6 2017 // If oceans warm at a rate predicted by the Intergovernmental Panel on Climate Change, the United Nation-sponsored group that assesses climate change research and issues periodic reports, expected financial losses caused by...
Insured Losses from Hurricane Nate Could Top $1B
Nov 6 2017 // Catastrophe modeling companies have estimated insured losses from Hurricane Nate will reach $500 million and could even top $1 billion. Hurricane Nate formed as a tropical depression on Oct. 4, 2017, and was upgraded to a...
Georgia Estimates $550M in Insured Losses from Hurricane Irma
Nov 6 2017 // Georgia’s estimated insured losses from Hurricane Irma have climbed to more than $550 million, with insurers reporting approximately 103,163 claims filed as of October, according to Georgia Insurance Commissioner...
Commissioner Denies Texas Windstorm Insurance Association Request to Raise Liability Limits
Nov 6 2017 // Texas Insurance Commissioner Kent Sullivan in mid-October declined to approve a request by the Texas Windstorm Insurance Association to raise the maximum limits of liability on windstorm and hail policies. TWIA filed a...
Interim Charges for Texas Lawmakers Focus on Harvey’s Impact
Nov 6 2017 // In laying out the interim committee charges for the next legislative session, which will begin in January 2019, Texas House Speaker Joe Straus focused on Hurricane Harvey’s impact on the state. Almost every House...
Hurricane Damage Tracked by East Texas Company’s Drones
Nov 3 2017 // Unmanned aircraft helped a Nacogdoches, Texas, business survey hurricane damage with a degree of speed and safety once thought impossible. The Daily Sentinel reports after Hurricane Harvey battered the Texas coast and...
Hurricanes Drive Q3 Loss for Liberty Mutual But ‘Fundamentals Remain Healthy’
Nov 3 2017 // Liberty Mutual Holding Co. Inc. reported a net loss of $665 million for the three nine months ended September 30, 2017, versus net income of $455 million for the same period in 2016. The net loss in the quarter was driven...
Texas Hurricane Czar: State Needs $61B from Feds for Harvey Recovery
Nov 2 2017 // Texas needs $61-plus billion in federal funding just to rebuild public infrastructure damaged by Hurricane Harvey, as well as to cover projects to prevent future flooding. John Sharp, Texas’ Harvey recovery...
Swiss Re Posts $468M 9-Month Loss, Anticipates Re/Insurance Rate Hikes
Nov 2 2017 // A rise in insurance premiums, especially in areas affected by recent hurricanes and disasters, will help Swiss Re recover from almost half a billion dollars of losses in the first nine months of this year, it said on...
Interim Charges for Texas House Committees Focus on Harvey’s Impact
Nov 1 2017 // In laying out the interim committee charges for the next legislative session, which will begin in January 2019, Texas House Speaker Joe Straus focused on Hurricane Harvey’s impact on the state. Almost every House...
Cat Facility CCRIF to Pay Trinidad & Tobago $7M for Severe October Rains
Oct 31 2017 // Cayman Islands-based CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility) announced that Trinidad & Tobago will receive a payout of US$7,007,886 (approximately TT$47.4 million) on an excess rainfall...
Not All Expect Hurricanes to Bring 2018 P/C Insurance Hard Market
Oct 30 2017 // The worst hurricane season in modern U.S. history is starting to look like a blip on the charts of insurance stocks, with investors banking on a quick restoration of capital as firms rediscover pricing power. It’s a...
Florida Hurricane Fund Irma Payouts Could Exceed $5B
Oct 30 2017 // Hurricane Irma’s damaging rampage through Florida may require the state fund that provides backing to private insurers to pay up to $5.1 billion in claims. Anne Bert, chief operating officer for the Florida Hurricane...
Court Sides with Florida Nursing Homes in Emergency Generator Battle With Gov
Oct 30 2017 // Florida Gov. Rick Scott’s push to force nursing homes to add generators in the aftermath of Hurricane Irma could be blocked after a judge ruled there was no pressing danger that justifies the order. Scott called for...
Chubb Reports Q3 Loss Due to Catastrophes; CEO Greenberg Sees Prices Firming
Oct 27 2017 // Chubb, like other property/casualty insurers and reinsurers, faced significant catastrophe losses from hurricanes and earthquakes that struck in August and September. The insurer reported a net loss of $70 million for the...
Florida’s Hurricane Irma Recovery Tab Tops $650M
Oct 27 2017 // The tab for Hurricane Irma keeps rising, and Florida legislators are warning that it could require some tough budget choices for next year. Gov. Rick Scott’s budget director told a Senate panel on Wednesday that the...
U.S. Cities Ranked Most Vulnerable to Coastal Floods Due to Climate Change
Oct 26 2017 // This week is the anniversary of Superstorm Sandy, which developed in late October and moved over the East Coast starting on Oct. 29, 2012, causing more than $70 billion in damage and killing 280 people. To mark that...
