Latest Natural Disasters Headlines
All the headlines from our Natural Disasters Topic Page, ordered by recency.
Aon: Businesses Must Not Ignore Terrorism Risk
Apr 19 2005 // Regardless of whether or not the U.S. Federal Government authorizes an extension to TRIA (Terrorism Risk Insurance Act) beyond the end of this year, terrorism remains a very real threat and should not be ignored. According...
Experts Report Commercial Property Terrorism Modeling Getting Better
Apr 18 2005 // Insurance companies are getting a better handle on how to estimate commercial property terrorism exposures and price the coverage thanks to advances in computer modeling. Despite the strides made in modeling to estimate...
European Nations Offer Lessons in Insuring Catastrophes and Terrorism
Apr 18 2005 // GAO Study Explores Examples of How Public-Private Insurance Partnerships Operate A new U.S. government report indicates that the private U.S. insurance industry would be placed under enormous strain without government...
Insurers Tell Senate Panel of Possible Long-Term Terrorism Insurance Solution; Urge Swift Action
Apr 14 2005 // In testimony today before the Senate Banking Committee, Ernie Csiszar, president and chief executive officer of the Property Casualty Insurers Association of America, outlined possible components of a long-term terrorism...
P/C Industry Says Treasury Study Inadequate Gauge of Terrorism Insurance Market
Apr 11 2005 // Two months before the study is expected to be done, the property casualty insurance industry is getting nervous about a study on terrorism insurance being conducted by the Treasury Department, a study some in Congress are...
Florida’s CFO, Jupiter, Fla. Homeowners Discuss Unpaid Hurricane Claims; Final Meeting Slated April 9
Apr 8 2005 // Thursday night, six months after Hurricane Jeanne hit the east coast, Tom Gallagher, Florida’s CFO, met for the sixth in a series of seven town hall meetings to discuss unpaid claims with 250 homeowners in Jupiter,...
Fla. Legislation Would Require Insurance Companies to Disclose ‘Hurricane-Preparedness’ Discounts
Apr 8 2005 // Legislation now working its way through the Florida House and Senate would require insurance companies to disclose discounts they offer for policyholders who make their homes more resistant to hurricane winds. At present,...
Severe Thunderstorms, Tornadoes Pummel Mississippi; Agents Expect Claims
Apr 7 2005 // Mississippi homeowners began contacting their insurance companies after severe thunderstorms, spawning powerful tornadoes, pummeled Mississippi from top to bottom, destroying or damaging at least 75 homes and ripping away...
Expert Predicts 13 Named Storms, Seven Hurricanes
Apr 5 2005 // An active storm season with 13 named storms this year has been predicted by Colorado State University researcher William Gray. The hurricane expert, who has been making such forecasts for 22 years, said he expects seven...
Hurricane Victims Need Help!
Apr 4 2005 // When I attended the Florida Department of Financial Services town hall meeting in Orlando I got a glimpse of what many insurance agents must have encountered after last year’s hurricanes–how the heck did you...
New GAO Study: U.S. Needs Government Help to Insure for Catastrophes and Terrorism
Mar 31 2005 // A new U.S. government report indicates that the private U.S. insurance industry would be placed under enormous strain without government intervention if there were a major terrorist or catastrophic event or series of...
New Hawaii Tsunami Report Added to RiskMeter Online
Mar 30 2005 // CDS Business Mapping, LLC is now offering Hawaii tsunami reports on the RiskMeter Online (www.RiskMeter.com). By simply typing in an address, users will be alerted if the address falls into a high risk area, as well as...
Q4 Rescues Hannover Re 2004 Profits from Hurricanes
Mar 30 2005 // Germany’s Hannover Re Group reported 309.1 million euros ($400 million) net after tax income for 2004, down 12.9 percent from 2003’s 354.8 million euros ($459.8 million). The company’s earnings report,...
8.7 Quake Strikes Indonesian Islands; 2000 Feared Dead; Tsunami Alerts Given, Cancelled
Mar 29 2005 // A severe earthquake, measuring 8.7 on the Richter Scale, struck several Islands off the Northwest Coast of the Indonesian Island of Sumatra at around 11:15 p.m. local time (11:15 a.m. EST) causing heavy damage and loss of...
Carvill Report Indicates “Bermuda High” is Crucial Hurricane Factor
Mar 29 2005 // The ReAdvisory group of Carvill, a leading specialty reinsurance intermediary, has released a white paper, which concludes that the location of the “Bermuda High” pressure system is crucial in determining...
PCI: Fla. Hurricane Cat Fund Changes are Key to Property Market Stability
Mar 22 2005 // The Property Casualty Insurers Association of America (PCI) is urging the Florida Legislature to establish an annual hurricane deductible for insurers and lower the threshold of losses that an insurer must sustain before...
Killer Tsunamis and the Marine Insurance Market
Mar 21 2005 // Early in the morning hours on Dec. 26, 2004, opposing subterranean tectonic plates deep beneath the Indian Ocean floor shifted in violent unison along a line about 300 miles long. The energy released was on par with a...
Commissioner Bell to Chair Ala. ‘Insurance Hurricane Issues Task Force’
Mar 21 2005 // Alabama Insurance Commissioner Walter A. Bell has been named to chair a 20-member “Insurance Hurricane Issues Task Force” formed by Gov. Bob Riley to study hurricane insurance issues in coastal Alabama. Members...
Fla. Cabinet’s Emergency Rule ‘Holds Insurers Feet to the Fire’ to Expedite Open Hurricane Claims
Mar 18 2005 // In response to a call by the Florida’s Chief Financial Officer Tom Gallagher, Gov. Jeb Bush and the Cabinet has approved an emergency rule to expedite the resolution of open claims from last year’s tropical...
AIA: House Hearing on Port Safety Offers Rationale for Extension of Federal Terrorism Insurance Backstop
Mar 15 2005 // The American Insurance Association (AIA) expressed hope that a Capitol Hill hearing Tuesday focused on U.S. port security will provide federal policymakers with insights about the urgent need to extend the nation’s...
