Latest Hurricane Headlines
All the headlines from our Hurricane Topic Page, ordered by recency.
Zurich’s Exposure to Hurricanes Helene, Milton Below $360M as Catastrophe Losses Rise
Nov 7 2024 // Zurich Insurance Group said on Thursday that its exposure to Hurricanes Helene and Milton, which recently wreaked havoc in the United States, would be less than $360 million, as insurers face increasing losses from natural...
About 17% of Gulf of Mexico Oil Production Shut Due to Hurricane Rafael
Nov 7 2024 // About 17% of crude oil production and 7% of natural gas output in the U.S. Gulf of Mexico was shut in response to Hurricane Rafael, the U.S. Bureau of Safety and Environmental Enforcement said on Wednesday. Energy...
Finland Records First Hurricane-Force Winds Off West Coast
Nov 5 2024 // Finland’s coastal waters were hit by hurricane-force winds for the first time, as more extreme weather batters Europe. Storm Lyly brought an average wind speed of 33.5 meters per second on Friday to Kylmapihlaja, off...
Will People Leave Florida After Hurricanes? History Suggests Not
Nov 4 2024 // ORLANDO, Fla. (AP) — The news rippled through Treasure Island, Florida, almost like a third storm: The mayor planned to move off the barrier island a month after Hurricane Helene flooded tens of thousands of homes along...
Claims From Hurricane Milton Continue to Rise in Florida
Nov 4 2024 // Two weeks after Hurricane Milton made landfall near Sarasota, Florida, as a Category 3 storm, claims and loss totals continue to rise. As of Oct. 21, the Florida Office of Insurance Regulation said carriers reported more...
Regional Banks With Florida Operations Brace for Loan Defaults After Hurricanes
Nov 1 2024 // Several regional lenders allocated loan-loss provisions in the third quarter to cover potential defaults by borrowers grappling with recent hurricanes, primarily in Florida, highlighting the risks extreme weather and...
Allstate Turns in Net Income of $1.2B After Q3 Hurricanes
Oct 31 2024 // Allstate Corp. said its net income attributable to common shareholders for the third quarter was about $1.2 billion compared to a loss of $41 million during the same time a year ago. The Northbrook, Illinois-based insurer...
Program Uses AI to Send Cash Payments to 1,000 Households Hit by Hurricanes
Oct 29 2024 // Nearly 1,000 hurricane-impacted households in North Carolina and Florida will benefit this week from a new disaster aid program that employs a model not commonly used by philanthropy in the United States: Giving people...
Rebuilding from Hurricanes Hinges on Immigrants at Center of US Election
Oct 28 2024 // The efforts to rebuild in Southeastern states after a pair of destructive hurricanes are at risk of being drawn out by shortages of a critical supply of workers: migrants. Builders are anxious about proposals laid out by...
Catastrophe-Bond Funds Suffered Virtually No Losses From Hurricane Milton
Oct 25 2024 // After two weeks of number-crunching, it now seems clear that investors in catastrophe bonds emerged from Hurricane Milton relatively unscathed. In fact, holders of the bonds may be looking at returns of as much as 12%,...
Hurricane Milton Caused $1.5B-$2.5B in Losses to Florida Agriculture
Oct 22 2024 // Hurricane Milton caused an estimated $1.5 billion to $2.5 billion in damage to Florida’s crops and agricultural infrastructure, according to a preliminary assessment released by the state’s Department of...
Claims from Hurricane Milton Continue to Rise in Florida
Oct 22 2024 // Almost two weeks after Hurricane Milton made landfall near Sarasota, Florida, as a Category 3 storm, claims and loss totals continue to rise. As of Oct. 21, the Florida Office of Insurance Regulation said carriers had...
HCI Group Expects to Pay $600M to $750M in Claims from Recent Hurricanes
Oct 17 2024 // Publicly traded HCI Group, the Tampa-based holding company for Homeowners Choice Property & Casualty, TypTap and a new condominium insurance reciprocal, is one of the first Florida insurers to report estimated losses...
Hurricane Milton Insured Losses in $30B-$50B Range, Says Verisk
Oct 16 2024 // Catastrophe modeler Verisk said it expects insured losses from Hurricane Milton will be between $30 billion and $50 billion from damages caused mostly by wind. Verisk’s Extreme Event Solutions group said the range...
Explaining Deductibles After Multiple Florida Hurricanes
Oct 16 2024 // Deductibles serve several purposes. They provide some premium relief for the insured. They make insureds less likely to file smaller claims because either damage falls within the deductible, or is so close to it that the...
Volunteers Bring Solar Power to Hurricane Helene Disaster Zone
Oct 15 2024 // Nearly two weeks after Hurricane Helene downed power lines and washed out roads all over North Carolina’s mountains, the constant din of a gas-powered generator is getting to be too much for Bobby Renfro. It’s...
KCC Expects Private Insured Losses of $36B From Hurricane Milton
Oct 15 2024 // Florida’s Hurricane Milton caused private insured losses of about $36 billion, estimated catastrophe modeler Karen Clark & Co. The estimate includes losses from wind, storms surge, and inland flooding to...
Hurricane Milton Could Use Up P/C Insurers’ 2024 Catastrophe Budgets
Oct 10 2024 // S&P Global Ratings said potential losses from Hurricane Milton could fully deplete the 2024 natural catastrophe budgets for rated U.S. property/casualty insurers, affecting underwriting margins and earnings. In a...
Flaws of the Saffir-Simpson Scale: Wind Isn’t the Only Threat in Modern Hurricanes
Oct 10 2024 // The insurance industry faces significant challenges in covering catastrophic risks, especially as climate change drives more extreme weather events. With soaring premiums and increasing exclusions, the need for an accurate...
Hurricane Milton Bears Down on Florida’s Tampa Area With House-Toppling Winds
Oct 9 2024 // Hurricane Milton churned toward Florida’s west coast with winds powerful enough to demolish houses, threatening to unleash once-in-a-century flooding across some of the state’s fastest-growing...
