Latest Hurricane Headlines
All the headlines from our Hurricane Topic Page, ordered by recency.
Swiss Re Hurricane Report Stresses Risk Analysis
Nov 23 2004 // Swiss Re’s recently issued report on the 2004 hurricane season stresses that, although the number of storms may have been extraordinary, “the impact on insurers has been controllable through a process of...
Information Institute Data Shows 2004 Hurricanes Broke All Records
Nov 22 2004 // Newly released information ranks all four of this season’s hurricanes among the top 10 costliest U.S. hurricanes in the past 25 years. And, taken together, the cost of this season’s storms edges out the cost of...
Claims Mediation Meetings Begin in Four Fla. Cities
Nov 22 2004 // Mediation meetings began Monday in Punta Gorda, Orlando, Jupiter and Pensacola to provide Floridians with a process to quickly and fairly settle disputes with insurance companies, at no cost to them. To date, more than...
Hurricane Spitzer to Take London by Storm
Nov 22 2004 // QUOTE:This will impact every underwriter in Lloyd’s and most in London, given the distribution chain they inhabit. There’s still some sense of disbelief here in London at the moment. Hurricane Spitzer seems to...
2004 HURRICANE SEASON NOT SO UNUSUAL AFTER ALL:
Nov 22 2004 // According to an analysis conducted by AIR Worldwide (AIR), a risk modeling company, the 2004 hurricane season should not be considered rare. The analysis, based on the AIR hurricane model, revealed that insurers should...
Six N.C. Homeowners Dispute Denial of Hurricane Ivan Damage Claims
Nov 19 2004 // Six residents in Peeks Creek, N.C. where four people died in a Hurricane Ivan-triggered landslide have hired lawyers to represent them after being denied insurance claims. Fifteen houses were damaged or destroyed in Peeks...
Zurich Posts 35% Increase in Nine Month Net Income
Nov 17 2004 // Zurich Financial Services reported a 35 percent increase in its net income for the first nine months of 2004 to $1.902 billion, compared to $1.41 billion in the same period of 2003, despite the impact of the Florida...
La. DOI Final Estimate of Hurricane Ivan Damages Totals Nearly $7.9 Million
Nov 17 2004 // Commissioner of Insurance Robert Wooley announced that the Louisiana Department of Insurance’s final estimate of Hurricane Ivan damage in Louisiana is $7,868,750.00. That figure is based on a reported 3,760 claims...
Nationwide Estimates Florida Hurricane Losses at $850 Million Pre-Tax
Nov 15 2004 // Ohio-based Nationwide Mutual Insurance Company and its P/C affiliates have issued an estimate of the losses and loss adjustment expenses from Hurricanes Charley, Frances, Ivan, and Jeanne of approximately $850 million on a...
CFO Gives Hurricane Response Status Report; Fla. Mediation Begins Nov. 22
Nov 12 2004 // Following a recent emergency rule setting deadlines for processing claims there have been almost 17 percent fewer calls from consumers experiencing delays when dealing with an adjuster, according to the Florida Department...
Allstate Holding Off On New Homeowner Policies in Florida
Nov 11 2004 // Allstate Corp., the largest property casualty insurer in Florida, has announced it will cease writing new homeowners’ policies in Florida until the state Legislature meets in December and decides what to do about...
21st Century Holding Co. Unveils Q3 Report
Nov 11 2004 // Florida-based 21st Century Holding Co. reported results for the quarter ended Sept. 30, 2004. For the quarter ended Sept. 30, 2004, the company reported net loss of $13,754,082, or $2.32 per share on 5,925,952 undiluted...
Benfield Report Looks at 2004 Hurricane/Typhoon Season and Destruction Left Behind
Nov 10 2004 // Between Atlantic hurricanes and Pacific typhoons, the 2004 storm season has already generated record catastrophe (CAT) losses which will reportedly encourage many insurers to rethink their CAT reinsurance coverage. The...
Platinum Posts $69.8 Million Q3 Loss
Nov 9 2004 // Platinum Underwriters Holdings, Ltd. became another casualty of the Florida hurricanes. The Bermuda-based insurer posted a net loss for the period of $69.8 million, or $1.62 per common share, as its GAAP combined ratio...
Fla. Subpoenas Marsh; Hurricane Victims Could Receive Extension
Nov 9 2004 // In an effort to obtain a better look at insurance contracts with state agencies and any impact on public dollars, Tom Gallagher, Florida Chief Financial Officer, has subpoenaed Marsh & McLennan for documents related...
Big ‘I’ Panelists Concerned About Terrorism, Asbestos, Tort Reform
Nov 8 2004 // Terrorism, asbestos and tort reform will be key industry concerns according to five insurance company CEOs participating in a panel discussion during last month’s Independent Insurance Agents & Brokers of...
FLA. OKS CLAIM PROCESSING DEADLINE:
Nov 8 2004 // Gov. Jeb Bush and members of the Florida Cabinet today OK’d an emergency rule that sets deadlines for insurance companies to assess, process and settle insurance claims. “Firm deadlines will give thousands of...
ISO: INSURERS WILL PAY ESTIMATED $3.245 BILLION ON HURRICANE JEANNE CLAIMS:
Nov 8 2004 // U.S. property/casualty insurers are expected to pay homeowners and businesses an estimated $3.245 billion for insured property losses from Hurricane Jeanne, according to preliminary estimates by ISO’s Property Claim...
N.J. Man Full of ‘Hot Air’ as Proposed Hurricane Product Leads to Fraud Sentence
Nov 5 2004 // A Brick Township, New Jersey man has been sentenced to 30 months in federal prison for committing mail fraud while fraudulently inducing people to invest in his companies that purported to market and sell “hurricane...
PXRE Q3 Net Loss $73.2 Million; Will Hold $100 Million Public Offering
Nov 5 2004 // The Bermuda-based PXRE Group announced third quarter results, which were impacted by the Florida hurricanes. The net loss for the period was $73.2 million compared to net income of $23.7 million in the third quarter of...
