Latest Hurricane Headlines
All the headlines from our Hurricane Topic Page, ordered by recency.
Meadowbrook Insurance Group: $5.1M Known Claims from Hurricane Sandy
Dec 12 2012 // Meadowbrook Insurance Group Inc., headquartered in Southfield, Mich., reported that so far it has approximately $5.1 million of known claims resulting from Hurricane Sandy. The claims reported from Hurricane Sandy are...
Post-Sandy, Weather Service Considers Change to Hurricane Warnings
Dec 11 2012 // The National Weather Service is considering changing how it issues hurricane watches and warnings. Spokesman Chris Vaccaro said in an email last week that the weather service is considering a proposal to issue watches and...
S&P Says Reinsurers Faced Unexpected Risks from Hurricane Sandy
Dec 11 2012 // A report from Standard & Poor’s Ratings Services notes that “despite uncertainties regarding final loss totals from Hurricane Sandy expects only a limited ratings impact on insurers and reinsurers exposed...
White House $60 Billion Sandy Relief Request Includes Flood Insurance Funding
Dec 10 2012 // The White House has officially asked Congress to authorize $60.4 billion in federal spending for response, recovery and mitigation related to Hurricane Sandy damage in all affected states. The request, in a letter to the...
Deadly 2012 Hurricane Season Ends
Dec 3 2012 // The 2012 Atlantic hurricane season that spawned the destruction of Sandy and Isaac has come to an end as one for the record books. There were 19 named storms in what meteorologists consider an above-average year that tied...
Hurricane Center Seeks to Improve Storm Surge Warnings
Nov 30 2012 // Friday marks the end of an Atlantic-Caribbean hurricane season where the greatest devastation was caused by water rather than wind, U.S. National Hurricane Center Director Rick Knabb said. Accordingly, the center is...
S&P Report: Reinsurers Discuss Industry Lessons Learned From Hurricane Sandy
Nov 30 2012 // A recent report, “Reinsurance Industry Leaders Discuss Lessons Learned From Hurricane Sandy,” published Nov. 29, 2012, on RatingsDirect, Standard & Poor’s Ratings Services, notes that...
Wind Deductibles and Sandy: What It Means for Total Insured Losses
Nov 28 2012 // On October 29, 2012, when Hurricane Sandy made landfall along the northeast coast—a year to the day since the last northeastern superstorm and fourteen months since Hurricane Irene — the wind speeds recorded by the...
New York, New Jersey Put $71 Billion Price Tag on Sandy
Nov 26 2012 // New York state and New Jersey need at least $71.3 billion to recover from the devastation wrought by Superstorm Sandy and prevent similar damage from future storms, according to their latest estimates. The total, which...
AIR Worldwide Raises Sandy Insured Loss Estimates to $16-$22 Billion
Nov 26 2012 // Catastrophe modeling firm AIR Worldwide today revised up its industrywide Sandy insured loss estimates to the $16 billion-$22 billion range. AIR Worldwide had previously estimated on Oct. 30 — the day after Sandy...
Swiss Re Estimates Claims from Hurricane Sandy at around $900 Million Net
Nov 26 2012 // Swiss Re announced that its estimates of claims from Hurricane Sandy are around $900 million, net of retrocession and before tax. The bulletin warned, however, that “this estimate is subject to a higher than usual...
After Sandy, Uncertainty About Real Estate Market, Mortgages, Insurance
Nov 21 2012 // “Reduced for Quick Sale!” reads Mike Montalbano’s Craigslist ad for the three-bedroom home he needs to sell before he can relocate for a new job. The drywall is new, as are the appliances. The only...
Insurers Go Beyond Paying Claims for Sandy Victims
Nov 21 2012 // According to the U.S. Chamber of Commerce, Superstorm Sandy affected 16 states causing unprecedented damage to the East Coast. As a result of the storm, businesses including insurers have pledged more than $123 million to...
Hailstorms Are the Costliest Natural Peril in Texas
Nov 14 2012 // Hurricanes may garner more attention but in Texas, hailstorms, not hurricanes, are the most damaging weather events that Texans face annually, according to the state’s insurance regulators. And, unlike hurricanes,...
Q&A With Attorneys on Emerging Business Insurance Topics
Nov 13 2012 // As companies large and small grapple with losses in Sandy’s aftermath, a number of critical — and costly — business questions have emerged. Darlene Alt and Robert DiUbaldo, two experienced insurance...
Feds: Levee System Did Not Cause Isaac Flooding
Nov 12 2012 // Federal officials say in a report released Nov. 9 that improvements to the New Orleans-area levee system did not cause Hurricane Isaac’s storm-surge flooding of areas in Louisiana that were not inundated during...
Navigating Claims Process Can Be a Challenge for Homeowners
Nov 12 2012 // People looking to rebuild their lives after Superstorm Sandy destroyed and damaged their homes may now have another struggle on their hands: Navigating the often-frustrating claims process with their insurance...
Superstorm Sandy Stress Scenarios Won’t Impact Insurer Ratings: Fitch
Nov 8 2012 // Even an extreme $40 billion scenario for property/casualty insurance industry losses from Hurricane Sandy would not drive material rating changes for insurers, analysts at Fitch Ratings said today. In a report providing a...
Some Homeowners Unexpectedly Hit With ‘Windstorm Deductible’
Nov 7 2012 // In the immediate days after Superstorm Sandy, officials in the Northeastern states declared that hurricane deductibles would not apply to Sandy claims. Officials from northeastern states including New York, New Jersey and...
Munich Re Raises 2012 Profit Forecast on Stronger 9-Month Results
Nov 7 2012 // Munich Re said it expects a higher consolidated result for 2012 than previously envisaged. Following a profit of €2.7 billion [$3.47 billion] for the first nine months of 2012 (same period last year: €80 million...
