Latest Hurricane Headlines

WMO Foresees La Nina in Pacific this Year

Jul 6 2010 // La Nina is likely to cool the tropical Pacific in coming months, a phenomenon which usually causes stronger monsoons across Asia and eastern Australia, the World Meteorological Organization (WMO) said on Tuesday. The...

Wortman Retiring as CEO of Louisiana Citizens Property Insurance Corp.

Jul 6 2010 // John Wortman, CEO of Louisiana Citizens Property Insurance Corp. (Citizens), the state’s property insurance of last resort, has announced plans to retire. “John Wortman has been a tremendous asset to Louisiana...

Price Scare

Jul 5 2010 // Seven years and running, the soft market shows few signs of loosening its grip on commercial insurance pricing, according to a recent industry study. Average premiums in every line tracked by the RIMS Benchmark Survey fell...

Jul 5 2010 // 77.2% In most hurricane-prone states, homeowners have few choices for insurance coverage, with just eight property and casualty insurers in each state controlling up to 77.2 percent of the market share, according to Weiss...

It Figures

Jul 5 2010 // 77.2% In most hurricane-prone states, homeowners have few choices for insurance coverage, with just eight property and casualty insurers in each state controlling up to 77.2 percent of the market share, according to Weiss...

Caribbean Countries Renew Hurricane, Earthquake Coverage

Jul 2 2010 // All sixteen members of the Caribbean Catastrophe Risk Insurance Facility (CCRIF – www.ccrif.org) have renewed their policies for hurricane and earthquake coverage for the 2010/11 year beginning on June first, the...

AIR Estimates Mexico’s Hurricane Alex Insured Loss under $200 Million

Jul 2 2010 // Catastrophe risk modeling firm AIR Worldwide estimates that insurable losses (losses from properties that are eligible for insurance, whether or not they are actually insured) from Hurricane Alex are not expected to exceed...

Hurricane Alex Weakens to Tropical Storm

Jul 1 2010 // Hurricane Alex weakened to a tropical storm Thursday as it moved further inland over northeastern Mexico, dumping heavy rains that flooded cities but sparing U.S. oil facilities near its path. Rain from the first named...

Texas Attorney General: Alex Triggers Price Gouging Law

Jul 1 2010 // Texas Attorney General Greg Abbott has advised South Texans affected by Hurricane Alex that Gov. Rick Perry’s disaster declaration activates state laws that prohibit price gouging. Hurricane Alex had developed into a...

Hurricane Alex Could Reach Land Today in Mexico, Texas

Jun 30 2010 // Hurricane Alex strengthened in the Gulf of Mexico early Wednesday and was expected to make landfall later in the day but skirt Mexican oil rigs and U.S. oil fields, alleviating concerns in crude markets. The first named...

Hurricane Alex to Hamper BP’s Gulf Oil Disaster Containment Effort

Jun 29 2010 // Tropical Storm Alex is expected to reach hurricane strength on Tuesday, with high winds and vast waves set to hamper BP Plc’s latest efforts to contain the largest oil spill in U.S. history. Shares in London-based...

Louisiana Hurricane Recovery Board Disbanding

Jun 29 2010 // The Louisiana Recovery Authority’s board ended its multibillion dollar rebuilding work on June 24, nearly five years after Hurricane Katrina roared ashore. The LRA board of directors – a volunteer board largely...

Texas Prepares as Tropical Storm Alex Heads Toward Hurricane Status

Jun 29 2010 // As of 10 a.m. CDT on June 29, Tropical Storm Alex was nearing hurricane strength in the western Gulf of Mexico and the National Hurricane Center (NHC) expects it to reach hurricane status later in the day. The storm is...

As Alex Looms, Texans Wait for Decision on Flood Insurance

Jun 28 2010 // With Tropical Storm Alex skirting the east coast of Mexico and heading north, if residents along the Texas Gulf Coast are thinking it’s a good time to purchase flood insurance from the National Flood Insurance...

Homeowners Offered Few Insurance Choices in Hurricane States

Jun 28 2010 // In most hurricane-prone states, homeowners have few choices of insurance coverage, with just eight property and casualty insurers in each state controlling up to 77.2 percent of the market share, according to Weiss...

P/C Insurers Return to Profitability in Q1 With $8.9B in Net Income

Jun 23 2010 // The property/casualty industry returned to profitability in the first quarter of 2010 despite continuing declines in both written premiums and earned premiums. Private U.S. property/casualty insurers’ net income...

Insurers Revive Cat Bond Market

Jun 21 2010 // Insurers are issuing catastrophe bonds again to complement traditional and cheaper reinsurance and to spread the risks in buying protection against events that could cost them tens of billions of dollars in claims. The...

Storm Management

Jun 21 2010 // The Atlantic hurricane season forecasts are in and they aren’t pretty. All the major forecasters have predicted the season will be much more active than last season. The National Oceanic and Atmospheric...

Double Trouble: Oil and Hurricanes in the Gulf Coast

Jun 21 2010 // AIR Worldwide Reviews Implications of the Gulf Oil Spill for Hurricane Season The current oil spill in the Gulf of Mexico followed soon after a large explosion on the Deepwater Horizon oil drilling platform, 50 miles off...

Double Trouble: Oil and Hurricanes in the Gulf Coast

Jun 21 2010 // AIR Worldwide Reviews Implications of the Gulf Oil Spill for Hurricane Season The current oil spill in the Gulf of Mexico followed soon after a large explosion on the Deepwater Horizon oil drilling platform, 50 miles off...