Latest Hurricane Headlines
All the headlines from our Hurricane Topic Page, ordered by recency.
Hurricane contractors: Working without a safety net
Jan 1 2006 // For the clean up of New Orleans in the wake of Hurricane Katrina to progress, contractors engaged in this important work must be adequately protected from long-term and uncertain liabilities. As insurance brokers, we at...
6 Hurricane experts Max Mayfield, Bill Bailey
Jan 1 2006 // Full agenda slated for Feb. 8 to 11 windstorm conference 6 Ga. legislative meetings successful 30 legislators, 102 agents attend IIAG events 8 Tenn. bill would require sinkhole coverage Legislator suggests adding new...
PIA of Louisiana resolutions seek hurricane relief assistance
Jan 1 2006 // Thanking insurance companies on behalf of Louisiana insurance agents and the policyholders they represent for the carriers’ hard work and assistance in the aftermath of Hurricanes Katrina and Rita, the Professional...
Hurricane Katrina Leveled Pascagoula, Miss., Home of U.S. Sen. Trent Lott; He’s Suing State Farm for Damages
Jan 1 2006 // U.S. Sen. Trent Lott, R-Miss., is suing his insurance company over damages to his beachfront Pascagoula home, which was leveled by Hurricane Katrina. The law office of Richard “Dickie” Scruggs, Lott’s...
USDA: $200 Million for Fla. Agriculture Hurt by Hurricanes
Dec 30 2005 // The U.S. Department of Agriculture has designated at least $200 million (euro168 million) for Florida growers and farmers who suffered losses from the 2005 hurricanes, officials said. The funds were included in last...
2005, a Year to Remember: Busiest Hurricane Season of the Century for United States
Dec 29 2005 // The hurricane season made 2005 a year-to-remember, with the southeast encountering the busiest hurricane season of the century, with 26 named storms and 13 hurricanes, meteorologists used up the list of 21 proper names and...
Florida Insurance Council EVP Predicts Hurricane Insurance Will Be of ‘Utmost Concern’ in 2006
Dec 28 2005 // Hurricane insurance will be the most significant property and casualty issue on a state level in 2006, just as it was in 2005, Sam Miller, executive vice president of the Florida Insurance Council told Insurance...
Insurers’ Income, Surplus Rise Despite Record Catastrophe Losses
Dec 28 2005 // The U.S. property/casualty insurance industry’s net income after taxes rose 4.4 percent, or $1.2 billion, to $28.8 billion in nine-months 2005 from $27.6 billion in nine-months 2004. Reflecting the industry’s...
La., Miss. Relief Agencies to Share $125K in Aid from Council Foundation
Dec 28 2005 // The Foundation for Agency Management Excellence (FAME), an insurance industry educational foundation of The Council of Insurance Agents & Brokers, has identified the three relief agencies in Louisiana and Mississippi...
Best Affirms Quanta Group’s ‘A-‘ Ratings; Outlook Negative
Dec 27 2005 // A.M. Best Co. announced that it has affirmed the financial strength ratings (FSR) of A- (Excellent) and issuer credit ratings (ICR) of “a-” of Bermuda-based Quanta Reinsurance Ltd. (Quanta Re) and its...
La. Commissioner Unveils Hurricane Mediation Program
Dec 27 2005 // Louisiana residents whose Hurricane Katrina or Hurricane Rita insurance claims are in dispute will soon be offered a possible solution at no cost to them, according to the Louisiana Department of Insurance. Commissioner of...
Details of PXRE’s Securitzation for “Second Event Protection”
Dec 27 2005 // Bermuda’s PXRE Group Ltd. has given details of its $250 million collateralized transaction with Atlantic & Western Re II Limited, a Cayman Island reinsurance company. The agreement is designed to provide...
2005 Hurricane Losses to Top $57 Billion, Advisen Reports
Dec 27 2005 // New York-based Advisen Ltd. has released an estimate that worldwide insurance and reinsurance losses related to the three major hurricanes that hit the United States this year would amount to $57.6 billion, making the...
S&P Affirms OIL’s ‘A-‘ Rating, Off CreditWatch; Outlook Stable
Dec 22 2005 // Standard & Poor’s Ratings Services announced that it has affirmed its “A-” counterparty credit and financial strength ratings on petroleum industry mutual insurer Oil Insurance Ltd. (OIL) and removed...
Hurricane-Impacted Floridians Eligible for Income Tax Relief
Dec 22 2005 // Tax and time relief measures are available to Floridians impacted by this year’s hurricanes according to Tom Gallagher, Florida CFO. “Many hurricane victims are still struggling to repair their homes and...
La. to Launch Mediation Program for Consumers With Hurricane-Related Insurance Disputes
Dec 22 2005 // Louisiana Commissioner of Insurance Robert Wooley will hold a press conference on Thursday, December 22, 2005, at 1:00 p.m., to announce the launch of the Louisiana Hurricane Mediation Program. The press conference will...
If Assistance Bill Survives, Miss., La. Could Receive Billions to Recover From Katrina
Dec 21 2005 // If the Hurricane Recovery Assistance Bill survives the U.S. Senate, Mississippi could receive a significant share of the $29 billion assistance, according to Sen. Thad Cochran, R-Miss. The senator said he has negotiated a...
Estimates in Swiss Re <em>sigma</em> Study Confirm 2005 as Costliest Ever
Dec 21 2005 // Ever since Hurricane Katrina devastated New Orleans, 2005 looked certain to be a record-breaking year for insured losses. Swiss Re’s newly issued sigma report has now confirmed the sad fact. According to preliminary...
Gov. Bush Opposes Bailing Out Citizens With Tax Revenue; Suggests Using Reserve Fund
Dec 21 2005 // The state received an $800 million sales tax windfall from hurricane reconstruction last year, but Florida Gov. Jeb Bush said Tuesday that he’s against using any public dollars to bail out the state-created insurer...
National Newsbriefs
Dec 19 2005 // House Passes Terrorism Insurance Bill: Legislation that will extend the 2002 Terrorism Risk Insurance Act for an additional two years passed the House of Representatives floor by a vote of 371 to 49. The Senate already...
