Latest Hurricane Headlines
All the headlines from our Hurricane Topic Page, ordered by recency.
Carvill Offers Options on Individual Named Storms
Oct 20 2008 // Carvill Capital Markets recently listed named storm contracts on the Chicago Mercantile Exchange, providing coverage for live hurricanes and for an entire hurricane season. Patrick Gonnelli, president of Carvill Capital...
TWIA Claims From Ike May be Less Than Expected
Oct 20 2008 // Two weeks after Hurricane Ike hit Galveston, Texas, on Sept. 13, the Texas Windstorm Insurance Association — the state’s insurer of last resort for wind coverage along the coast — was fielding many thousands of...
A.M. Best, Insurers Concerned over Florida’s Catastrophe Fund Capabilities
Oct 16 2008 // The Florida Hurricane Catastrophe Fund Advisory Council recently presented its 2008 October bonding estimates, rattling the nerves of insurers in the process. While David Sampson, president and chief executive officer of...
Hurricane Omar Heads for Leeward Islands
Oct 15 2008 // Omar has intensified to hurricane strength in the last 24 hours and continues to move gradually towards the northern Leeward Islands. It is a relatively small storm with hurricane force winds extending up to just 15 miles...
Georgia Drought Persists Despite Rains from Hurricanes
Oct 14 2008 // The banks of Georgia’s Lake Lanier look about the same as last year: Closed boat ramps, parched soil and lonely islands peeking above the surface that should be covered by a dozen feet of water. Epic drought forced...
FEMA Extends Hurricane Ike Housing Deadline in Louisiana
Oct 14 2008 // The Federal Emergency Management Agency has extended its deadline for providing temporary housing for evacuees of Hurricane Ike in Louisiana. Gov. Bobby Jindal says FEMA will now provide temporary housing until Oct....
AIR Describes Hurricane Norbert’s Passage over Baja California, Mexico
Oct 13 2008 // AIR Worldwide’s latest bulletin on Pacific Ocean Hurricane Norbert traces the storm’s passage over the southern Baja Peninsula, the Gulf of California, and its eventual landfall on the west coast of Mexico....
Aspen Says Ike/Gustav Losses at $155 Million; Investments at $47.4 Million
Oct 13 2008 // Bermuda-based Aspen Insurance Holdings Limited has issued a comment on the combined loss estimates for the hurricanes Gustav and Ike. In the same bulletin Aspen discussed the “impact of recent events in the financial...
Ike is Costliest Storm in Texas History; Price Tag Now More Than $11B
Oct 13 2008 // A month after Hurricane Ike pounded the island, piles of sheetrock, appliances, furniture and family mementos dot most streets in Galveston. Electronic road signs in Southeast Texas flash, “Watch for cows next 20...
Validus Estimates Ike/Gustav Losses at $185 Million
Oct 10 2008 // Bermuda-based Validus Holdings, Ltd. announced that it expects Hurricanes Ike and Gustav will negatively effect the third quarter of 2008 by approximately $165 million and $20 million, respectively. The majority of claims...
Hurricane Norbert Threatens Baja California
Oct 9 2008 // The most recent bulletin from Miami’s National Hurricane Center warns that Hurricane Norbert is now threatening “the Southern Baja California peninsula.” Maximum sustained winds are near 135 mph (215...
Donegal Insurance Reports 3Q to Reflect Hurricane, Securities Events
Oct 9 2008 // Marietta, Pennsylvania-based Donegal Group Inc. reported that its net income for the third quarter of 2008 will reflect realized investment losses related to its equity securities and claim activity resulting from...
Hurricane Ike’s Windstorm Costs Insurers $550 Million in Ohio Damages
Oct 9 2008 // Winds from Hurricane Ike will cost insurance companies at least $553.1 million to cover property damage and other losses in Ohio, making it the state’s most expensive natural disaster in more than three decades, a...
Endurance Releases Hurricane, Financial Loss Estimates
Oct 8 2008 // Bermuda-based Endurance Specialty Holdings Ltd. announced its initial loss estimate related to Hurricanes Ike and Gustav at around $145 million pretax and net of reinsurance and reinstatement premium. The company also...
CCRIF Pays Turks and Caicos $6.3 Million in First Hurricane Recovery
Oct 8 2008 // The Caribbean Catastrophe Risk Insurance Facility (CCRIF) has made its first ever hurricane payout from the multi-country risk pool. Turks and Caicos Premier the Hon. Dr. Michael Misick accepted $6.3 million from the...
Louisiana Lawmakers Seek Limit on Named Storm Deductibles
Oct 7 2008 // Key Louisiana lawmakers plan to challenge property insurers by trying to limit the special deductibles they can impose when homes are damaged by tropical storms and hurricanes. The so-called “named-storm”...
Port of New Orleans Settles With Insurer Over Katrina Damage
Oct 6 2008 // The Port of New Orleans approved a $97.5 million settlement with a major insurer over damages the port sustained during Hurricane Katrina. The port said Johnston, R.I.-based FM Global had insured it for up to $145 million...
More to Come in Busy Atlantic Hurricane Season
Oct 6 2008 // The 10 tropical storms and hurricanes that ripped through the Atlantic and Caribbean during this busy hurricane season savaged Haiti, Cuba and the U.S. Gulf coast, and conditions are now ripe for more. Residents of the...
Reinsurance Executives Tour Fortified Home in Mississippi
Oct 6 2008 // Nearing the end of a years-long highly specialized residential construction project, one Hurricane Katrina survivor has become a regular stop for insurance industry representatives touring along the Mississippi Gulf...
More to Come in Busy Atlantic Hurricane Season
Oct 6 2008 // The 10 tropical storms and hurricanes that ripped through the Atlantic and Caribbean during this busy hurricane season savaged Haiti, Cuba and the U.S. Gulf coast, and conditions are now ripe for more. Residents of the...
