Latest Natural Disasters Headlines
All the headlines from our Natural Disasters Topic Page, ordered by recency.
S&P Comments on Calif. Wildfire Aftermath
Nov 12 2003 // The biggest wildfire in U.S. insurance history will neither undermine insurance ratings nor prompt a pricing surge in homeowners’ coverage in the state, according to the most recent research by Standard &...
IIAD’s All Industry Day to Feature Town Hall Meeting on Terrorism
Nov 12 2003 // The Independent Insurance Agents of Dallas announced it will hold the annual All Industry Day on Nov. 25. The event, “Confronting Terrorism, Not If, But When,” is sponsored by state and local insurance...
Moody’s: Wildfires Will Hurt Insurers’ Bottom Line
Nov 12 2003 // Moody’s Investors Service said in a statement that it does not expect its ratings or outlook on the U.S. personal lines insurance sector as a whole to be impacted solely by the recent spate of California...
Allstate Foundation Establishes $1 Million Wildfire Relief Fund
Nov 10 2003 // The Allstate Foundation joined with The California Community Foundation (CCF) to establish a $1 million fund to aid in the recovery and rebuilding efforts in response to the Southern California wildfire...
III: Calif. Wildfires Worst Ever, Losses Expected to Exceed $2 Billion
Nov 10 2003 // Surveys of the insurance industry have confirmed a total of 7,260 claims filed from the Southern California firestorms as of 4 p.m., Wednesday, Nov. 5, according to the Insurance Information Institute. Reports of up to...
Calif. Commissioner Allows Insurers to Expand Use of Adjusters for Wildfire Claims
Nov 6 2003 // Calif. Insurance Commissioner John Garamendi released the following statement declaring an Emergency Situation in Southern California due to the wildfires: “Due to the unprecedented destruction caused by Southern...
Southern California Wildfires Ravage Hundreds of Homes, Property
Nov 3 2003 // Hundreds of homes in Southern California blazed recently as firefighters worked round the clock to contain the out- of-control wildfires that plagued parts of San Bernardino, San Diego, Ventura, and Los Angeles counties....
Calif. Commissioner Creates Task Force to Protect Wildfire Victims
Oct 31 2003 // Insurance Commissioner John Garamendi launched two major efforts by the California Department of Insurance (CDI) to protect and aid victims of the Southern California wildfires. Noting that insurance fraud soars after...
Insurance to Cover Most Damage from Calif. Wildfires; ACIC Offering Claims Filing Tips
Oct 29 2003 // Most of the damage from the rash of wildfires ravaging Southern California will be covered under property owners’ homeowners and fire insurance policies, according to the Association of California Insurance Companies...
NAII: Wildfire Damage Estimated at $500 Million
Oct 28 2003 // Most of the damage from the rash of wildfires ravaging Southern California will be covered under property owners’ homeowners and fire insurance policies, according to the National Associaiton of Independent Insurers...
Half of California Homes Face Wildfire Dangers
Oct 23 2003 // More than half of California’s 12.5 million homes face wildfire dangers that pose a financial loss potential well in excess of $106 billion, according to state fire statistics and insurance industry analysis. These...
Hearing on Texas Windstorm/Hail Insurance Scheduled
Oct 20 2003 // The Texas Department of Insurance reported it has scheduled a hearing on Oct 29 to consider Docket No. 2577, which concerns approval of the Texas Windstorm Insurance Association’s filing of proposed adjustments to...
TERRORISM STILL A CONCERN, ALLIANCE SAYS:
Oct 20 2003 // Insurers must begin planning now for the expiration of a federal terrorism insurance backstop program, even though there’s no guarantee that reinsurance will be available if the federal backstop is allowed to expire...
Donegal Group Notes Improved Results Despite Hurricane Isabel
Oct 16 2003 // Donegal Group Inc. reported its results of operations for the quarter and nine months ended Sept. 30. The company reported net income of $4,001,385, or $.40 per share on a diluted basis, compared to $3,015,676, or $.33 per...
NYSID Reviews N.H. Terrorist Coverage
Oct 13 2003 // New York’s Superintendent of Insurance Gregory Serio announced that a review of terrorism coverages offered by New Hampshire Insurance Company to brownstone property owners has resulted in an agreement with the...
NJCRIB Notes Complaints on AIG Terrorist Risk Charges
Oct 9 2003 // New Jersey’s Compensation Rating and Inspection Bureau has released an advisory bulletin noting that it has “been receiving complaints from agents and insureds that the AIG companies have been applying a...
Vesta Names Executive VP., Updates Hurricane Isabel Losses
Oct 7 2003 // Alabama-based Vesta Insurance Group, Inc. announced that Thomas Mangold, has been elected executive vice president. Mangold, in addition to his new role as an executive officer of the holding company, will continue his...
Travelers Estimates $75 Million Loss from Hurricane Isabel
Oct 3 2003 // Travelers Property Casualty Corp. announced that its preliminary estimate for catastrophe losses resulting from Hurricane Isabel is approximately $75 million, after reinsurance and tax, based on approximately 33,000 claims...
Canadian Insurers Handling Hurricane Claims
Oct 2 2003 // The Insurance Bureau of Canada has issued a bulletin reassuring consumers that their property insurance will respond to storm-related damage caused by Hurricane Juan, which struck Nova Scotia and Prince Edward Island last...
Safeco Strengthens WC Reserves; Announces Estimates of Hurricane Isabel Losses
Sep 30 2003 // Following the completion of a previously announced review, Safeco strengthened reserves for workers’ compensation, affecting third-quarter financial results by $0.96 per diluted share. Safeco increased loss reserves...
