Latest Natural Disasters Headlines
All the headlines from our Natural Disasters Topic Page, ordered by recency.
Regulators Urge Senate to Move Quickly on Insuring Terrorism Risks
Mar 1 2007 // Speaking on behalf of the National Association of Insurance Commissioners (NAIC), Michael McRaith, director of the Illinois Division of Insurance, testified this week before the Senate Committee on Banking, Housing, and...
Industry: Federal Terrorism Insurance Still Vital to National Security
Feb 28 2007 // Insurance industry advocates urged Congress today to ensure the availability of terrorism risk insurance through a continued federal government role and to examine long-term solutions before the current backstop...
World Bank, Caribbean Nations to Discuss Fund to Insure Against Natural Disaster
Feb 27 2007 // The World Bank and Caribbean nations are exploring the creation of a new fund to insure island nations against hurricanes and other natural disasters. Representatives from 18 Caribbean countries gathered Monday in...
Hawaii Reviewing Hurricane Cat Models
Feb 27 2007 // Hawaii’s Insurance Division, in its guidelines on supplemental rate filing requirements for property insurance, is advising that it will be reviewing the appropriateness of catastrophe models for hurricane exposure...
Tornadoes Reported in Four States; 27 Injured in Arkansas
Feb 27 2007 // Authorities went door to door in search of an unknown number of people who remained unaccounted for after severe storms swept through southern Arkansas, shredding home and businesses and injuring at least 27...
Chicago Exchange offering futures contracts on ’07 hurricanes
Feb 26 2007 // The Chicago Mercantile Exchange, the largest derivatives exchange in the U.S., is launching contracts that will allow insurers and others to hedge risk against hurricane damage. The exchange, a unit of CME Holdings Inc.,...
Should windstorm be added to the NFIP?
Feb 26 2007 // U.S. Rep. Gene Taylor, D-Miss., recently introduced the Multiple Peril Insurance Act, which would offer windstorm coverage as an option for consumers within the National Flood Insurance Program (NFIP). The bill has sparked...
La.’s Blanco: Insurance industry over-reacting to 2005 hurricanes
Feb 26 2007 // The insurance industry is over-reacting to Hurricanes Katrina and Rita, threatening the region’s recovery by withdrawing coverage and charging exorbitant rates, Gov. Kathleen Blanco told a gathering of insurance...
Agents welcome windstorm debate; insurers warn against subsidies
Feb 26 2007 // The Independent Insurance Agents and Brokers of America (the Big “I”) says the debate over windstorm coverage is crucial for consumers and independent agents and brokers in many regions around the...
8 La.’s Blanco: Industry over-reacting to hurricanes
Feb 25 2007 // Governor says state is making headway on storm protection 9 Ark. auto insurance fraud suspect turns self in Fraud ring allegedly scammed hundreds of thousands of dollars 10 New Orleans couple drops suit against Allstate No...
Editor’s Note: Should windstorm be added to the NFIP?
Feb 25 2007 // The agents’ association is concerned about lack of markets and affordable windstorm coverage for both homeowners and businesses, which it believes has reached crisis proportions in some states. U.S. Rep. Gene Taylor,...
8 Agents welcome windstorm debate
Feb 25 2007 // Insurers warn against subsidies 10 Safeco to cut homeowners, commercial rates 200,000 Calif. customers to benefit, company says 10 Ariz. lawmakers move to raise burden of proof on ER suits Identical bill vetoed by Gov....
Burns & Wilcox Offers Fire, Earthquake, DIC in Hawaii
Feb 23 2007 // Burns & Wilcox announced it now will provide personal lines fire, earthquake and DIC coverage in Hawaii. Coverage includes owners of primary, secondary, tenant-occupied and seasonally rented homes on the Hawaiian...
RenRe to Develop ‘WOW’ Hurricane Study Model
Feb 23 2007 // RenaissanceRe announced that it will participate in a project, conducted by Florida International University’s (FIU) International Hurricane Research Center (IHRC) and WeatherPredict Consulting, Inc., a U.S....
Multi-State Natural Disaster Insurance Plan Gets Cool Reception
Feb 22 2007 // Insurance officials in Florida, where a spate of hurricanes have set the industry into turmoil, pitched the idea recently of multistate insurance pools for natural disasters to their colleagues from across the...
Lawyer: La. Citizens Nearing Mass Settlement of Hurricane Suits
Feb 21 2007 // Louisiana’s state-run insurer is nearing a mass settlement with policyholders that would be the first deal of its kind in the state since hurricanes Katrina and Rita spawned thousands of lawsuits, an attorney for the...
Chicago Exchange, Carvill Ready Hurricane Futures for Insurers
Feb 20 2007 // The Chicago Mercantile Exchange, the largest derivatives exchange in the United States, announced last week that it is launching contracts that will allow insurers and others to hedge risk against hurricane damage. The...
La.’s Blanco: Insurance Industry Over-Reacting to 2005 Hurricanes
Feb 15 2007 // The insurance industry is over-reacting to Hurricanes Katrina and Rita, threatening the region’s recovery by withdrawing coverage and charging exorbitant rates, Gov. Kathleen Blanco told a gathering of insurance...
Earthquake Rattles Midwest City, Okla.
Feb 14 2007 // A small earthquake rattled the Midwest City, Okla., area Feb. 12, but no damage or injuries were reported, officials said. The magnitude 3.0 earthquake occurred at 12:33 p.m., 31/2 miles west of Midwest City, according to...
Close to New Madrid Fault, Memphis Undertakes Earthquake Planning
Feb 13 2007 // Shelby County, Tennessee emergency planners must identify “pinch points” that are most vulnerable to earthquake damage, Mayor A C Wharton says. “The best safety tool we have is to be aware of what we can...
