Latest Natural Disasters Headlines
All the headlines from our Natural Disasters Topic Page, ordered by recency.
Munich Re Reports 56% Drop in Q4 Profit on Spate of Natural Disasters
Feb 6 2019 // German reinsurer Munich Re on Wednesday reported a 56 percent decline in fourth quarter net profit after a spate of natural catastrophes but proposed raising its dividend for 2018. Net profit fell to 238 million euros...
The United States Saw 11 Natural Disaster Events That Exceeded $1 Billion in Damage During 2018
Feb 6 2019 // This post is part of a series sponsored by CoreLogic. When it comes to natural disasters, 2018 was an eventful year worldwide. Typhoons devastated the Philippines, Hong Kong, Japan and Oman. Earthquakes caused mass...
Thousands of Lawsuits Demanding PG&E Pay for Damages from Wildfires
Feb 5 2019 // Some 1,000 lawsuits have been filed since late 2017 demanding Pacific Gas & Electric Corporation pay for damages caused by wildfires. The lawsuits represent thousands of people, companies, cities and counties affected...
Bankruptcy Won’t End Problem PG&E Must Still Deal With: Wildfires
Feb 4 2019 // Big corporations forced into bankruptcy by liability lawsuits often take the offending product off the market and try to move on. That’s what happened with the Dalkon Shield birth control device, asbestos and...
Lawmakers Need to Decide Nature of Texas Windstorm Insurer, Sunset Commission Says
Feb 4 2019 // To be the insurer of last resort for wind and hail insurance along the Texas coast — without state support and reliant on premium dollars and debt financing for funding, or to be a true insurance company that derives...
When Rebuilding After Hurricanes, Big Homes Replace Small
Feb 4 2019 // Trend Is Playing Out in Areas Prone to Extreme Winds and Storm Surge A study of hurricane-hit areas of the United States has revealed a trend of larger homes being built to replace smaller ones in the years following a...
Expert Ponders California Wildfire Commission, Other Solutions to State’s Severe Seasons
Feb 4 2019 // Establishing a California Wildfire Commission is just one idea an expert is tossing out to help the state deal with worsening fire seasons. James Woods was formerly co-leader of Mayer Brown’s Global Insurance...
California Wants Faster Forestry Approvals in Wildfire Fight
Jan 31 2019 // California wildland managers said this week that they want to speed up logging and prescribed burns designed to slow wildfires that have devastated communities in recent years. After the deadliest and most destructive...
Judge Says PG&E Has ‘Clear-Cut’ Pattern of Starting Wildfires
Jan 31 2019 // A federal judge who has emerged as a vocal critic of PG&E Corp.’s safety record, said the California utility giant has a “clear-cut pattern” of starting wildfires and needs “strong...
Insured Losses from Sydney Hailstorms Estimated at A$635M (US$457.5M): PERILS
Jan 31 2019 // Initial insured property losses for December’s hailstorms in Sydney are estimated at A$635 million (US$457.5 million), according to PERILS, the independent Zurich-based organization that provides industry-wide...
Expert: Florida’s Hurricane-Hit Timber Industry Will Need Years to Recover
Jan 31 2019 // It could take a decade or more for Florida’s timber industry to recover from Hurricane Michael’s devastation, and the countless downed trees pose an immediate wildfire threat, Florida Forest Service Director...
A Look at PG&E’s Rapid Fall After California Wildfires
Jan 30 2019 // On an unusually warm day in northern California, hot and dry winds whipped through the Sierra Nevada foothills northeast of San Francisco. It was Thursday, Nov. 8, and a “red-flag warning” from the National...
Expert Ponders California Wildfire Commission, Other Solutions to State’s Severe Seasons
Jan 29 2019 // Powered by InsuranceJournal.tv Establishing a California Wildfire Commission is just one idea an expert is tossing out to help the state deal with worsening fire seasons. James Woods was formerly co-leader of Mayer...
PG&E in California Files for Bankruptcy in Wake of Wildfire Liabilities
Jan 29 2019 // Power provider PG&E Corp. filed for voluntary Chapter 11 bankruptcy protection on Tuesday, succumbing to liabilities stemming from wildfires in Northern California in 2017 and 2018. The owner of the biggest U.S. power...
Insured Losses from Last Year’s California Wildfires up to $11.4B
Jan 28 2019 // California Insurance Commissioner Ricardo Lara on Monday announced that more than $11.4 billion in insured losses have been reported from the November 2018 fires. That is a 25 percent increase, or more than $2.3 billion,...
PG&E Cleared of Liability in 2017 California Wildfire, Bankruptcy Still Seen
Jan 28 2019 // California fire investigators last week concluded that a major 2017 wildfire was caused by privately owned electrical equipment, prompting the state’s new governor to estimate that PG&E Corp’s potential...
Assessing Effects of Government Shutdown on Wildfires, Workforce, Research
Jan 28 2019 // The government may be reopening, but the consequences of the longest federal shutdown in U.S. history are likely to linger for national parks, forests, the federal workforce and cutting-edge scientific research. Some may...
Tornado, High Winds Damage Florida Homes, Church, Zoo
Jan 28 2019 // Authorities say a possible tornado damaged several homes and downed trees and powerlines as a line of storms crossed central Florida. News outlets report winds tore much of the roof off of the parsonage at Tuscanooga...
Trump Expands Federal Reimbursement for Florida’s Hurricane Michael Cleanup
Jan 28 2019 // Florida will get potentially hundreds of million dollars for Hurricane Michael recovery after President Donald Trump agreed to expand the number of days the federal government will reimburse state and local governments for...
Hurricane Florence Demonstrates Perils of Being Underinsured/Uninsured, Says RMS
Jan 24 2019 // Hurricane Florence caused extensive freshwater flood damage in the Carolinas and parts of Virginia in September—and about 70 percent of those flood losses will be uninsured, according to RMS. “The insured loss for...
