Latest Natural Disasters Headlines
All the headlines from our Natural Disasters Topic Page, ordered by recency.
Swiss Re Estimates $3.6B in Claims from U.S. Hurricanes & Mexican Quakes
Oct 20 2017 // Swiss Re, the world’s second-largest reinsurer, estimated its claims burden from hurricanes Harvey, Irma and Maria in the United States and from two earthquakes in Mexico at roughly $3.6 billion in the third...
Northern California Wildfires: Insurance Industry Ready to Assist With ‘Massive’ Recovery
Oct 20 2017 // Rebuilding the Northern California areas devastated by wildfire will be a long-term effort, and insurers say they will be there to help their affected policyholders get back on their feet. Tens of thousands of evacuees...
Early Data Shows Insured Losses from California Wildfires Already at $1B and Growing
Oct 19 2017 // Insurance Commissioner Dave Jones today released preliminary data provided by eight California insurers processing claims for tens of thousands of policyholders that shows $1.045 billion in losses to commercial and...
In ‘Energy City’ USA, Hurricane Harvey’s Fury Lingers
Oct 19 2017 // It took five weeks for the largest U.S. oil refinery to get back to normal after Hurricane Harvey. It’s taking Port Arthur, Texas, a lot longer. Nearly two months after Harvey inundated Port Arthur, a crucial hub of...
Zurich Estimates Claims of US$700M from Hurricanes Harvey, Irma & Maria
Oct 19 2017 // Zurich Insurance Group estimates that Hurricanes Harvey, Irma and Maria will aggregate claims in the third quarter of approximately US$700 million, net of reinsurance and before tax. After tax, the losses are expected to...
Does a CPP Cover Trees Knocked Over by a Hurricane?
Oct 18 2017 // Last week we entered into a discussion of downed trees, in particular, trees downed by a hurricane. We spent our time dealing with the HO-3 policy and how it responds. If you didn’t catch that, take a look at last...
Georgia Estimates $550M in Insured Losses from Hurricane Irma
Oct 18 2017 // Georgia’s estimated insured losses from Hurricane Irma have climbed to more than $550 million, with insurers reporting approximately 103,163 claims filed so far, according to Georgia Insurance Commissioner Ralph...
Joplin School District Still Haggling with FEMA over Cost of Tornado Repairs
Oct 17 2017 // More than six years after a deadly tornado tore through Joplin, Missouri, the heavily damaged local school district has rebuilt. Exactly how much of those costs the district will have to shoulder remains up in the air. The...
Tornado in Oregon Damages Small Planes
Oct 17 2017 // Authorities say that it was a tornado that touched down south of Portland, Ore. last week overturning small airplanes, downing power lines and damaging several glass greenhouses. National Weather Service meteorologists say...
All Wildfire Damage to California Wineries May Not be Covered by Insurance
Oct 17 2017 // Wineries damaged by wildfires tearing through Northern California are starting insurance claims, and at least some of the smaller vintners are likely to find limits in their policies mean payouts fall short of rebuilding...
When Hurricanes Wreak Havoc: An Insurance Agency’s Perspective
Oct 16 2017 // Weathering a storm like Hurricanes Harvey, Irma or Maria requires planning, insurance and grit. In a span of 30 days the devastation from multiple hurricanes impacted millions of American families and businesses. When...
California Wildfires Threaten Significant Losses for P/C Insurers, Moody’s Says
Oct 16 2017 // Moody’s released a report on Monday assessing the impact of the wildfires in California on property/casualty insurers. “Based on history and the number of structures damaged, insured losses will run into the...
PG&E’s Possible Liability in California Wildfires Targeted by Investigators
Oct 16 2017 // PG&E Corp. at the end of last week capped its worst week in nine years on speculation that downed power lines may have played a role in deadly wildfires raging across California. And the rout is far from over. After...
Texas Windstorm Association Extends Deadline for Post-Harvey Appraisal Requests
Oct 16 2017 // As of Oct. 4, the Texas Windstorm Insurance Association (TWIA), the insurer of last resort for wind and hail along the Texas coast, had received 68,861 claims related to Hurricane Harvey, which made landfall near Rockport,...
California Commissioner Asks Insurers to Expedite Claims to Aid Wildfire Victims
Oct 15 2017 // California Insurance Commissioner Dave Jones over the weekend issued a notice to insurers asking them to agree to expedited claims handling procedures for wildfire damage claims to help fire victims more quickly. Several...
Ireland Readies for Hurricane Ophelia, One of Its Strongest Storms in 50-Plus Years
Oct 13 2017 // Ophelia strengthened into a Category 2 hurricane forecast to strike Ireland, where one of the nation’s strongest storms in half a century threatens everything from farms to a golf course owned by the family of U.S....
Lloyd’s Outlook Is Negative on Hurricane Losses; Ratings Affirmed: S&P
Oct 13 2017 // S&P Global Ratings has revised its outlook on the Society of Lloyd’s to negative from stable, while reaffirming the market’s ‘A+’ insurer financial strength and long-term counterparty credit...
Hurricane-Battered Flood Insurance Program In Need of Funding
Oct 13 2017 // The U.S. National Flood Insurance Program, struggling with the costs of this year’s record hurricane season, will run out of money as early as Oct. 23 unless Congress takes action. The Federal Emergency Management...
House Approves $36.5B Disaster Aid with Puerto Rico, Wildfires, Flood Insurance Funds
Oct 12 2017 // The U.S. House of Representatives on Thursday approved $36.5 billion in emergency relief for hurricane-hit Puerto Rico and other areas that have suffered recent disasters. In addition to the U.S. territory of Puerto Rico,...
Losses from California Wildfires Could Reach up to $6 Billion, Experts Say
Oct 12 2017 // This story has been updated with the latest estimates on fire losses. The wildfires raging in California are shaping up to become an infamous if not historic event. The fires have destroyed 3,500 structures and counting,...
