Latest Hurricane Headlines
All the headlines from our Hurricane Topic Page, ordered by recency.
TSR Updates Hurricane Forecast
Mar 21 2007 // The UK-based Tropical Storm Risk (TSR) weather forecaster has issued a revised assessment of the upcoming Atlantic hurricane season, which indicates that it will be a more active season than previously expected. TSR, which...
Hurricane Chief Voices Concerns About Forecasts from Aging Satellite
Mar 19 2007 // Certain hurricane forecasts could become less accurate if a key weather satellite that is already beyond its expected life span fails, the nation’s new top forecaster said. The change would mean placing longer...
Washington Warming to National Disaster Plan Idea
Mar 16 2007 // A proposal for a national disaster plan to backup private hurricane and flood insurance markets appears to be gaining momentum in Washington. This week, Rep. Barney Frank, D-Mass., chairman of the House Financial Services...
EPA Allows Demolition of 1,200 Hurricane-Damaged Homes in Miss.
Mar 15 2007 // About 1,200 hurricane-damaged homes in south Mississippi can be torn down under rules that have been extended by the Environmental Protection Agency. The EPA’s No Action Assurance program runs until Sept. 30 for...
La.’s Citizens Agrees to Mass Settlement of Hurricane Suits
Mar 12 2007 // Louisiana’s state-run insurer has agreed to a mass settlement with more than 100 policyholders, a deal believed to be the first of its kind in the state since hurricanes Katrina and Rita spawned thousands of...
Dodd Blasts Insurance Industry Response to Hurricanes
Mar 12 2007 // U.S. Sen. Chris Dodd, a Democratic presidential hopeful, said he’s angry with the insurance industry’s response to the 2005 Gulf Coast hurricanes and said Mar. 9 he will hold senate committee hearings on...
News Currents
Mar 12 2007 // Chicago Exchange, Carvill ready hurricane futures for insurers The Chicago Mercantile Exchange, the largest derivatives exchange in the United States, recently announced that it is launching contracts that will allow...
Caribbean nations establish joint disaster insurance pool
Mar 12 2007 // Caribbean countries joined by outside donors and international and regional organizations established a $47 million insurance pool to soften the blow from earthquakes and hurricanes. Called the Caribbean Catastrophe Risk...
Multistate natural disaster proposal garners mixed reaction
Mar 12 2007 // News Currents Insurance officials in Florida, where a spate of hurricanes have set the industry into turmoil, pitched the idea recently of multistate insurance pools for natural disasters to their colleagues from across...
Lessons learned from Katrina and beyond
Mar 12 2007 // The 2006 Atlantic hurricane season came and went with barely a blip — despite initial projections by some that there would be two to five major hurricanes that year. How could insurance industry predictions be so...
Chicago Exchange offering futures contracts on ’07 hurricanes
Mar 12 2007 // The Chicago Mercantile Exchange is launching contracts that will allow insurers and others to hedge risk against hurricane damage. The exchange, a unit of CME Holdings Inc., is teaming up with Carvill Group, a reinsurance...
Caribbean nations establish joint disaster insurance pool
Mar 12 2007 // Caribbean countries joined by outside donors and international and regional organizations established a $47 million insurance pool to soften the blow from earthquakes and hurricanes. Called the Caribbean Catastrophe Risk...
Hurricane Rita’s Claims Total $5.8B in Texas and Louisiana
Mar 6 2007 // The final tally for the cost of claims from Hurricane Rita in both Louisiana and Texas came to $5.8 billion. Hurricane Rita’s 120 mile per hour winds plowed into the Texas/Louisiana border on Sept. 24, 2005, one...
Berkshire Reports 29% Jump in Earnings; Seeks Buffet Successor
Mar 5 2007 // Chief Executive Warren Buffett said he plans to hire a young investment manager to help succeed him at Berkshire Hathaway Inc. as the insurance giant recorded a 29.2 percent jump in net income in 2006, helped by a lack of...
Fla. Home Premiums Could Fall 10%-50% Under New Reinsurance Law
Mar 5 2007 // Florida homeowners could see average property insurance savings ranging from around 10 percent in the Panhandle to more than half the cost of their policy in South Florida because of a new law, state insurance officials...
Caribbean Nations Establish Joint Disaster Insurance Pool
Feb 28 2007 // Caribbean countries joined by outside donors and international and regional organizations established a $47 million (euro35.7 million) insurance pool this week to soften the blow from earthquakes and hurricanes. Called the...
Hawaii Reviewing Hurricane Cat Models
Feb 27 2007 // Hawaii’s Insurance Division, in its guidelines on supplemental rate filing requirements for property insurance, is advising that it will be reviewing the appropriateness of catastrophe models for hurricane exposure...
Maryland mulls how to keep property insurers on coast
Feb 26 2007 // Alarmed that homeowners on Maryland’s coasts may one day be cut off from home insurance, state lawmakers are mulling new rules prohibiting insurers from pulling out of areas they deem risky. But insurers met with...
Chicago Exchange offering futures contracts on ’07 hurricanes
Feb 26 2007 // The Chicago Mercantile Exchange, the largest derivatives exchange in the U.S., is launching contracts that will allow insurers and others to hedge risk against hurricane damage. The exchange, a unit of CME Holdings Inc.,...
Don’t blame insurance agents for coastal mess
Feb 26 2007 // Over the past several months, a group of legislators from the Rhode Island House of Representatives has been meeting in an effort to understand and respond to the recent drastic — and, in some instances, draconian...
