Latest Hurricane Headlines
All the headlines from our Hurricane Topic Page, ordered by recency.
Storm Warnings
Sep 5 2005 // As the hurricane season recently entered its third month, a London-based storm forecaster reported that a higher-than-usual number of hurricanes are expected to hit the United States this year. Tropical Storm Risk...
RMS Revises Hurricane Katrina Loss Estimate to $20-$35 Billion
Sep 4 2005 // Risk Management Solutions (RMS) increased its estimated insured losses forecast for Hurricane Katrina’s direct impact to $20-$35 billion late last week. When Katrina’s landfall, RMS released a preliminary...
Hannover Re Estimates Katrina Losses at $314 Million; Lowers 2005 Forecast
Sep 2 2005 // Germany’s Hannover Re has issued a statement indicating that it will be “heavily impacted by Hurricane ‘Katrina.'” It estimates net losses before tax at around $250 million euros ($314 million), but...
The Allstate Foundation Earmarks $1M for Hurricane Katrina Recovery
Sep 2 2005 // The Allstate Foundation is establishing a $1 million “Hurricane Recovery Fund” to aid the thousands of Hurricane Katrina victims. Foundation funds will be administered by organizations in the affected...
RMS Totals Economic Loss for Katrina at $100 Billion+
Sep 2 2005 // Risk Management Solutions announced that the economic loss from Hurricane Katrina and subsequent flooding in New Orleans is expected to exceed $100 billion. Losses are resulting from two separate catastrophic events:...
Fireman’s Fund Declares Moratorium On Policy Cancellations for Hurricane Katrina Victims
Sep 2 2005 // Fireman’s Fund Insurance Co. based in Novato, Calif., has declared a temporary moratorium on canceling or non-renewing personal and commercial insurance policies in areas severely affected by Hurricane...
Industry Reaches Out to Lead Hurricane Katrina Recovery Efforts
Sep 2 2005 // Join the Insurance Industry Charitable Foundation (www.iicf.org) and Insurance Journal for a nationwide campaign to raise funds on behalf of the insurance industry in support of Hurricane Katrina relief efforts. President...
Miss. Insurers Directed to Grant Grace Periods in Hurricane-Impacted Areas
Sep 2 2005 // Mississippi Insurance Commissioner George Dale has requested all insurance companies doing business in Mississippi to grant a 60-day grace period for collection of insurance policy premiums owed by residents of the state...
Fitch: Katrina May be Most Costly U.S. Insured Loss Ever
Sep 2 2005 // Fitch Ratings on Friday updated its analysis of Hurricane Katrina. The range of estimated insured losses continues to be very wide and Fitch believes it will be a long time before these estimates are refined. Nonetheless,...
Hundreds of Adjusters Traveling Toward Damaged Areas, But Have Few Places to Stay
Sep 2 2005 // Teams of hundreds of insurance adjusters have been dispatched to begin evaluating and filing claims in Alabama, Mississippi and Louisiana. They expect to start their tedious jobs right after Labor day, now that they are...
Regulators Say Industry Prepared for Katrina’s Cost
Sep 2 2005 // The National Association of Insurance Commissioners (NAIC) says that while the damages from Hurricane Katrina may set record losses, the property and casualty industry maintains the adequate capital and liquidity required...
IIAT Spearheads Aid Drive for Hurricane Katrina Victims
Sep 2 2005 // The Independent Insurance Agents of Texas is spearheading a relief effort of agent donations by contributing $25,000 to assist independent agents in Louisiana, Mississippi and other states who are victims of Hurricane...
‘Casual Friday’ Kicks Off NAMIC ‘Hurricane Katrina Relief Fund’ to Aid the American Red Cross
Sep 2 2005 // A Hurricane Katrina relief fund has been established by the National Association of Mutual Insurance Companies with contributions going directly to the American Red Cross, according to Chuck Chamness, NAMIC president. The...
S&P Puts OIL’s ‘A+’ Ratings on Credit/Watch-Negative
Sep 1 2005 // Standard & Poor’s Ratings Services has registered a quick reaction to the ravages of Hurricane Katrina on the petroleum industry. S&P announced that it has placed its “A+” counterparty credit...
Swiss Re Estimates Katrina Claims at Around $500M
Sep 1 2005 // Swiss Re announced that, based on its preliminary estimate, it expects claims related to Hurricane Katrina to be in the range $500 million (CHF 625 million) before tax. “Swiss Re expects Hurricane Katrina to cost the...
Fla. Lawmakers Voice Support for National CAT Fund
Sep 1 2005 // Two Florida lawmakers, Sen. Bill Nelson (D-Fla.) and U.S. Rep. Mark Foley (R-Fla.) have voiced their support for a national catastrophe fund that insurance companies would establish to provide extra funding in the event of...
WellPoint Pledges $500,000 in Hurricane Katrina Relief
Sep 1 2005 // WellPoint Inc. announced that the WellPoint foundations will immediately contribute $500,000 to the American Red Cross Disaster Relief Fund to support relief efforts in the wake of Hurricane Katrina. The company has also...
Homeowners Insurance ‘Additional Living Expenses’ Coverage Can Help People Displaced By Hurricane Katrina
Sep 1 2005 // Many residents forced from their homes by Hurricane Katrina have insurance coverage under their homeowners insurance policies to pay for food and housing and other essentials of daily life, termed additional living expense...
PCI Stresses Patience as Help Flows to Katrina Victims
Sep 1 2005 // Now in the third day after the country’s most catastrophic natural disaster property owners and residents are still trying to come to terms with the extent of the devastation caused by Hurricane Katrina. The Property...
Congress Considers Emergency Session Regarding Hurricane Aid; Economy Takes Hit
Sep 1 2005 // Several media outlets reported Thursday afternoon that Congress is considering a special meeting later today or Friday to debate and get passed an emergency aid package for the Hurricane Katrina victims House Speaker...
