Latest Natural Disasters Headlines
All the headlines from our Natural Disasters Topic Page, ordered by recency.
Terrorism Risk Insurance Program: A Progress Report
Feb 10 2003 // With a federal terrorism reinsurance backstop now in place, the industry is faced with implementing the provisions of the legislation in a timely and efficient manner. This has and will continue to require unprecedented...
Tool Helps Insurers Identify, Quantify Terrorism Risks
Feb 5 2003 // Insurers looking to identify and price terrorism exposures have a new tool available from decision-data expert Oxxford Information Technology, Ltd. Oxxford’s Vulnerability Index (www.risk-mkt-data.com), as the...
Alliance Urges NY Legislators to Delay Action on Implementing Terrorist Risk Act
Feb 3 2003 // The Alliance of American Insurers urged New York legislators to “resist the temptation” to implement state-specific legislative or regulatory measures involving the federal Terrorism Risk Insurance Act (TRIA)...
PIANY President Points to Producers Role in Implementing Federal Terrorism Risk Act
Feb 3 2003 // David Isenberg, president of the Professional Insurance Agents of New York State Inc., also testified at hearings considering the implementation of the federal Terrorism Risk Insurance Act of 2002, telling the Assembly...
Big Turnout at PIANY’s MetroRAP 2003; Keynoter Warren Heck Addresses Terrorist Coverage Concerns
Jan 28 2003 // The recent Professional Insurance Agents of New York’s Metropolitan Regional Awareness Program (MetroRAP) broke previous attendance records. Nearly 500 agents, company representatives, exhibitors and other New York...
New AIR Estimation Model Helps Insurers Price Terrorism Risk
Jan 27 2003 // In an effort to help property/casualty carriers racing to price and offer terrorism coverage after the passage of the Terrorism Risk Insurance Act, AIR Worldwide Corporation has introduced a new estimation model, the...
CDI Approves Terrorism Risk Insurance Act Endorsement
Jan 27 2003 // On Jan. 14, 2003, the WCIRB advised its members that several forms had been filed with the California Department of Insurance (CDI) related to the Terrorism Risk Insurance Act which became effective on Nov. 26, 2002. The...
New AIR Estimation Model Helps Insurers Price Terrorism Risk
Jan 27 2003 // In an effort to help property/casualty carriers racing to price and offer terrorism coverage after the passage of the Terrorism Risk Insurance Act, AIR Worldwide Corporation has introduced a new estimation model, the...
AAI Says It Is Pleased with Third Interim Guidance on Terrorism Insurance
Jan 24 2003 // The Alliance of American Insurers (AAI) reports it is pleased with the U.S. Treasury Department’s third set of guidelines to help insurers comply with the Federal Terrorism Risk Insurance Act of 2002. Issued Jan. 22,...
AIA Conference Explores Challenges of Terrorism Ins. Law
Jan 23 2003 // Top government officials, along with insurance industry experts and leaders, kicked off an American Insurance Association (AIA) conference this week focused on the recently enacted Terrorism Risk Insurance Act of...
WCIRB Releases Summary of Terrorism Loss Cost Estimates for 11 States & D.C.
Jan 23 2003 // The California Workers’ Compensation Insurance Rating Bureau (WCIRB) has prepared and released a summary of loss cost estimates for 11 states and the District of Columbia that were published by the NCCI based on the...
WCIRB Releases Summary of Terrorism Loss Cost Estimates for 11 States & D.C.
Jan 22 2003 // The California Workers’ Compensation Insurance Rating Bureau (WCIRB) has prepared and released a summary of loss cost estimates for eleven states and the District of Columbia that were published by the NCCI based on...
Calif. WCIRB To Study Terrorism Costs
Jan 20 2003 // The Calif. Workers’ Compensation Insurance Rating Bureau (WCIRB) Governing Committee authorized the WCIRB to pursue developing estimates of potential terrorism losses for California. The estimates will be based upon...
AAIS To File Endorsements Excluding Non-Certified Terrorism Losses
Jan 17 2003 // The American Association of Insurance Services (AAIS) is initiating state-by-state filings of commercial lines terrorism endorsements excluding losses arising from “non-certified” acts of...
Calif. WCIRB To Study Terrorism Costs
Jan 17 2003 // The Calif. Workers’ Compensation Insurance Rating Bureau (WCIRB) Governing Committee authorized the WCIRB to pursue developing estimates of potential terrorism losses for California. The estimates will be based upon...
Calif. Commissioner Appeals Northridge Earthquake Settlement Decision
Jan 14 2003 // Citing his responsibility to seek every legal remedy on behalf of California consumers and Northridge earthquake victims, California Insurance Commissioner John Garamendi filed to appeal court decisions upholding...
RMS Estimates Losses from Recent European Windstorm Could Reach $940 Million
Jan 9 2003 // California’s Risk Management Solutions, Inc. (RMS), a global provider of products and services for catastrophe risk management, announced that overall losses from Windstorm Calvann, which swept through France and...
N.Y. Dept. Issues Guidance on Federal Terrorism Bill
Jan 1 2003 // New York Superintendent of Insurance Gregory Serio has issued guidance to the industry on the Federal Terrorism Bill. Circular Letter 25 of 2002 lays out the applicability, guidelines, and compliance procedures for the...
SPIR Meets Increasing Demand for Terrorist Cover
Dec 27 2002 // Special Risk Insurance and Reinsurance Luxembourg S.A. (SRIR), established last March by Germany’s Allianz AG, several other European insurers and Bermuda’s XL Capital, offers property and business interruption...
California Earthquake Authority Shuns Offshore Entities
Dec 26 2002 // The California Earthquake Authority decided it will no longer conduct business dealings with U.S. companies that relocate in name only to offshore tax havens. According to the Sacramento Bee, state Treasurer Phil Angelides...
