Latest Natural Disasters Headlines
All the headlines from our Natural Disasters Topic Page, ordered by recency.
Hurricanes Behind Cuts in Earnings Estimates for AIG, Chubb, Other S&P 500
Oct 16 2018 // The S&P 500 has plummeted more than 5 percent since early October. The culprit: slowing earnings growth stemming from rising interest rates and oil prices, according to Goldman Sachs Group Inc. That straightforward...
ShakeOut an Opportunity to Sell Earthquake Policies in California and Beyond
Oct 16 2018 // Millions of people are expected to drop, cover and hold on at 10:18 a.m. PST on Thursday, which should be a good opportunity for insurance agents to try and sell some policies, according to the head of the California...
Florida Orders Insurers to Halt Rate Hikes; Sets Up Hurricane Michael Claims Village
Oct 16 2018 // Florida’s insurance regulator has issued an emergency order that ensures “additional protections” to Florida policyholders – including freezing any rate hikes for 90 days – to support recovery efforts...
California Utility Cuts Power to Dampen Wildfire Threat
Oct 15 2018 // California’s largest public utility cut off electric power to about 60,000 customers in an unprecedented move to prevent wildfires such as those that erupted in the state’s wine country last fall, as high winds...
Georgia Working to Restore Power to Thousands After Hurricane Michael
Oct 15 2018 // Power outages caused by Hurricane Michael are likely to linger into early this week for some of the hardest hit communities in southwest Georgia. More than 188,000 homes and businesses still didn’t have power Friday....
California Bracing for High Winds, Increased Wildfire Danger
Oct 15 2018 // Potentially powerful winds combined with dry weather are raising the threat of wildfires in California. State firefighters say they are preparing for potential extreme fire weather early in the week. The National Weather...
Rescuers Continue to Search Florida Towns Demolished by Hurricane Michael
Oct 15 2018 // Dozens of people remained missing on Sunday in Florida Panhandle communities reduced to ruins by Hurricane Michael as rescuers said they expected the death toll to rise and survivors grappled with power outages and...
Hurricane Leslie Hits Coast of Portugal, Injuring 27
Oct 15 2018 // A weakened Hurricane Leslie slammed into the coast of Portugal, leaving 27 people injured as it uprooted trees, brought down power lines and smashed store windows with gusting winds and heavy rain. Over 60 people were...
Karen Clark: Hurricane Michael Losses Could Reach $8B
Oct 15 2018 // Catastrophe modeling firm Karen Clark & Co. (KCC) estimates insured losses from Hurricane Michael will be close to $8 billion, according to the KCC high resolution U.S. Hurricane Reference Model. This estimate includes...
Market Changes Not Expected From Hurricane Michael; Florida Insurers ‘Heavily’ Reinsured
Oct 15 2018 // Losses to the insurance industry from Hurricane Michael, a Category 4 storm that hit the Florida Panhandle before continuing a path of destruction through several other Southeast states, will be substantial but not enough...
Insurtech Jumpstart Rolls out Parametric Earthquake Product for Californians
Oct 15 2018 // A firm that wants to make a name for itself as the first parametric insurtech in the U.S. for earthquakes has officially launched in California, over a year after its anticipated original launch date. Jumpstart Insurance...
Texas Coastal Lawmakers Urge Denial of Windstorm Insurer’s Filed 10% Rate Hike
Oct 15 2018 // More than 20 state legislators have signed a letter addressed to Texas Insurance Commissioner Kent Sullivan requesting that a 10 percent rate increase filed by the state’s property insurer of last resort for wind and...
Pennsylvania Warns About Flood-Damaged Vehicles After Hurricane Florence
Oct 15 2018 // With automotive officials estimating that as many as 40,000 vehicles were damaged by flooding from Hurricane Florence, the Pennsylvania Insurance Department and the Pennsylvania Department of Transportation (PennDOT) are...
Hurricane Michael’s Destruction in Photos
Oct 12 2018 // Images compiled by Insurance Journal show the devastation to the Florida Panhandle caused by Hurricane Michael, which hit the region Oct. 10 as a Category 4 storm. Loss estimates range from $3 to $9 billion, according to...
Nevada Board Says $3.8M More Needed to Fight Wildfires
Oct 12 2018 // The Nevada Board of Examiners has recommended approval of an additional $3.8 million to cover the cost of fighting wildfires this past summer. The Nevada Appeal reports state forester Kacey KC told the board Tuesday more...
Texas Governor Extends Time for Ruling on Windstorm Rate Increase Filing
Oct 12 2018 // Texas Gov. Greg Abbott has effectively extended until June 16, 2019, the deadline for approval or disapproval of a recent rate increase filed by the Texas Windstorm Insurance Association. The governor did so by suspending...
Insurers, Reinsurers Can Handle Hurricane Michael Losses: Fitch
Oct 12 2018 // The property/casualty re/insurance industry should be able to absorb the losses from Hurricane Michael, on top of losses from Hurricane Florence, as capital remains very strong, according to Fitch Ratings. Hurricane...
Oregon Wildfire Costs This Year Hit Record of $514M
Oct 12 2018 // New data shows the cost of fighting wildfires in Oregon reached an all-time high $514.6 million in 2018. According to data from Northwest Interagency Coordination Center, Oregon’s costs skyrocketed past last...
Washington Lands Commissioner Wants $55M for Wildfires
Oct 12 2018 // Washington’s Public Lands Commissioner wants lawmakers to increase the amount of money that the state spends to fight wildfires and prevent future blazes. Hilary Franz, who oversees the Department of Natural...
Rescuers Search for Survivors as Death Toll from Hurricane Michael Rises
Oct 12 2018 // Using heavy equipment to push aside debris and with helicopters circling overhead, rescuers in the Florida Panhandle searched for trapped residents as officials warned on Friday the death toll from HurricaneMichael was...
