Latest Natural Disasters Headlines
All the headlines from our Natural Disasters Topic Page, ordered by recency.
Georgia Insured Losses from Hurricane Irma Exceed $300M, And Growing
Sep 29 2017 // The Georgia Office of the Commissioner of Insurance estimates that insured losses in the state from Hurricane Irma have now exceeded $300 million, with more than 50,000 property related insurance claims...
Chubb: Hurricanes Harvey, Irma Losses to Top $1 Billion
Sep 28 2017 // Chubb Ltd. has estimated it will see more than $1 billion in third-quarter losses stemming from hurricanes Harvey and Irma, a substantial hit for the insurer and reinsurer. The loss estimate is preliminary. Further details...
Lloyd’s Expects $4.5 Billion Hit from Hurricanes Harvey, Irma
Sep 28 2017 // Lloyd’s of London expects net losses of $4.5 billion from hurricanes Harvey and Irma, which analysts said would eat into the insurer’s capital and hit its profitability. Although losses from natural...
Global Reinsurers to Bear ‘Significant Share’ of Hurricane Maria Claims: A.M. Best
Sep 28 2017 // Ratings agency A.M. Best said it expects a significant share of the loss from Hurricane Maria to pass on to the global reinsurers evenly. The agency said it expects the loss would remain within the overall risk tolerance...
Citizens Estimates $1.23B In Insured Losses from Hurricane Irma
Sep 28 2017 // Hurricane Irma will generate up to 70,000 claims and approximately $1.23 billion of insured losses to Citizens Property Insurance Corporation over the next 18 to 24 months, according to initial estimates presented to...
Texas Regulators Seek Data on Insurers’ Hurricane Harvey Claims
Sep 27 2017 // The Texas Department of Insurance has issued a mandatory data call to both admitted and surplus lines insurance carriers seeking information about Hurricane Harvey-related claims in 62 counties impacted by the storm. The...
Evacuations Ordered on North Carolina Outer Banks for Hurricane Maria
Sep 26 2017 // An evacuation was underway Tuesday on an island on North Carolina’s Outer Banks as Hurricane Maria moved north. The Hyde County Sheriff’s office said the evacuation began at 5 a.m. Monday on Ocracoke Island. It...
UK SMEs Face BI Coverage Gaps After Terrorist Events: Pool Re Report
Sep 26 2017 // Many terrorism insurance policies are triggered when there is physical damage to a property. As a result, commercial insurance buyers may find that they are unprotected against business interruption losses if there is...
Damage From Rare Utah Tornado Still Being Felt a Year Later
Sep 26 2017 // Damage from a rare tornado that ripped through a Utah county a year ago still lingers in the homes and minds of people who live in its path. The twister gutted 12 homes and damaged dozens more in Weber County, causing a...
Insured Losses in Caribbean from Hurricane Maria Estimated at $40B-$85B: AIR
Sep 26 2017 // Industry insured losses for Hurricane Maria in the Caribbean will be between US$40 billion and US$85 billion, according to catastrophe modeling firm AIR Worldwide. Puerto Rico alone accounts for more than 85 percent of the...
2 Wildfires In Northern California Destroy or Damage Multiple Homes
Sep 25 2017 // Authorities say multiple homes and other structures have been destroyed or damaged in two wildfires that broke out over the weekend in Northern California. Fire officials in Auburn northeast of Sacramento said flames that...
Natural Disasters Begin to Hit Profits of Global Reinsurers
Sep 22 2017 // A profit warning from one of the world’s largest reinsurers is the latest sign that the death and destruction from a spate of hurricanes and earthquakes in North America are now taking a toll on the titans of global...
Insurance Industry Foundation Opens Charity Fund for Hurricane Irma Victims
Sep 21 2017 // The Insurance Industry Charitable Foundation (IICF), a nonprofit organization for insurance industry charitable giving, has launched a new disaster relief fund to assist the millions affected by the catastrophic damage of...
Global Reinsurers Face Exposures to Mexico City Earthquake: Morgan Stanley
Sep 21 2017 // Global reinsurers will likely face exposures from a massive magnitude 7.1 earthquake that struck Mexico City on Sept. 19, Morgan Stanley said in a new research note. This earthquake led to dozens of deaths and the toppling...
States Need Better Protections for Insurance Consumers in Natural Disasters: Rutgers Report
Sep 21 2017 // As homeowners continue to file insurance claims in the wake of Hurricanes Harvey and Irma, a research report released by the Rutgers Center for Risk and Responsibility at the Rutgers Law School in Camden, N.J., suggests...
Fitch: Hurricane Irma Losses Substantial, But Won’t Weaken Insurer Ratings
Sep 21 2017 // Estimated insured losses for the insurance industry for Hurricane Irma range from $25 to $50 billion based on various loss estimates, according to a report from Fitch Ratings. The ratings agency said these losses will...
Hurricane Maria Carves Path of Destruction Through Puerto Rico
Sep 20 2017 // Hurricane Maria, the strongest storm to strike Puerto Rico in nearly 90 years, carved a path of destruction through the U.S. territory on Wednesday, causing widespread flooding and knocking power out across the island...
Small Earthquake in Illinois Felt in 3 States
Sep 20 2017 // The U.S. Geological Survey reports that a small earthquake in southeastern Illinois was felt across parts of Illinois, Indiana and Kentucky. The USGS says the preliminary 3.8-magnitude earthquake occurred at 6:47 a.m....
FEMA Not Relying on Trailers to House Hurricane Victims
Sep 20 2017 // The hurricanes that battered Texas and Florida have likely spawned the worst disaster-created housing crisis since Hurricane Katrina left hundreds of thousands of Gulf Coast residents without homes more than a decade...
A.M. Best Warns on Hurricane Maria Impact on Caribbean/Puerto Rican Insurers
Sep 20 2017 // Many insurers and reinsurers in the Caribbean and in Puerto Rico will be tested as they brace for Hurricane Maria, the second hurricane to hit the region in two weeks, according to ratings agency A.M. Best. Hurricane Maria...
