Latest Natural Disasters Headlines
All the headlines from our Natural Disasters Topic Page, ordered by recency.
Fitch Reports Fla. Hurricane CAT Fund Upgraded
Aug 4 2004 // The authorized bonding program of the Florida Hurricane Catastrophe Fund (FHCF) has been upgraded to ‘AA’ from ‘A+’. The FHCF provides reinsurance coverage of up to $15 billion per hurricane season,...
North Carolina Coast Takes on Hurricane Alex
Aug 3 2004 // With maximum sustained winds of almost 100 miles per hour, tropical storm-turned-Hurricane Alex is moving along the coast of North Carolina toward the Outer Banks, and local property owners should take some basic...
Florida Sen. Nelson Unveils Measure to Reduce Hurricane Losses
Jul 27 2004 // U.S. Sen. Bill Nelson of Florida, who helped rebuild the state’s insurance market following Hurricane Andrew, has unveiled legislation aimed at reducing the loss of life and property caused by hurricanes, tornadoes...
ACE USA Unveils Hurricane Spin-down Coverage for Chemical Plants, Refineries, Related Industries
Jul 27 2004 // ACE USA, the U.S.-based retail operating division of The ACE Group of Companies, has introduced hurricane spin-down insurance that can be used by the chemical process industry to help reduce the financial costs of closing...
AIA: Senate Bill Boosts Momentum to Extend Terrorism Insurance Law
Jul 22 2004 // The introduction of legislation in the Senate on Thursday to extend the Terrorism Risk Insurance Act of 2002 (TRIA) by two years “adds to the momentum for congressional action in 2004, and demonstrates bipartisan...
SURVEY: PRICING SURPASSES TERRORISM AS TOP CONCERN:
Jul 19 2004 // An industry survey reveals that pricing is the top of concern facing major reinsurers and carriers in 2004, dramatically surpassing last year’s survey results where the top concern was terrorism. According to the...
Wildfire Victims Question Industry’s Cost Calculator
Jul 19 2004 // Don Robinson says his Residence Mutual insurance policy pegged the cost of replacing his San Diego home at $233,000. After Southern California’s wildfires destroyed the 40-year-old biologist’s four bedroom...
ACE Launches Hurricane Cancellation Product
Jul 16 2004 // ACE USA, the U.S.-based retail operating division of The ACE Group of Companies, has introduced hurricane cancellation insurance that can be used by hotels in their efforts to attract conferences and conventions to their...
Colorado Hailstorm Causes Over $28 Million in Damages
Jul 15 2004 // The Rocky Mountain Insurance Information Association estimates that a July 9th Colorado Springs hailstorm will result in more than 9,000 claims totaling $28.2 million in insured damage. This estimate includes approximately...
China Planning Earthquake Coverage Program
Jul 14 2004 // China wants to build an insurance system in two to three years to protect against natural catastrophes, which officials estimate cause some $17 million in losses every day. China Daily reported that the Insurance...
Chubb Warns Homeowners to Make Hurricane Preparations as Percentages Increase
Jul 14 2004 // Tropical storm experts are forecasting a 71 percent chance of a major hurricane hitting the U.S. coastline in 2004 – a significant jump from the long-term average of 52 percent. The National Oceanic Atmospheric...
Wildfire Victims Question Industry’s Cost Calculator
Jul 12 2004 // Don Robinson says his Residence Mutual insurance policy pegged the cost of replacing his San Diego home at $233,000. After Southern California’s wildfires destroyed the 40-year-old biologist’s four-bedroom...
AIA: Momentum Reportedly Growing to Extend Terrorism Insurance Law
Jul 8 2004 // New legislation authored by several House Democrats to extend the Terrorism Risk Insurance Act of 2002 (TRIA) demonstrates strong, bipartisan congressional support for keeping TRIA’s temporary, yet vital, economic...
18 Die as Typhoon Causes Flooding in Taiwan
Jul 6 2004 // Typhoon Mindulle struck Taiwan over the weekend, bringing torrential rains that caused widespread flooding. I8 people were reported to have died, and another 9 are missing. According to a news report from the BBC, the...
Homeowners in Hurricane Paths Hit with High Insurance Costs
Jul 5 2004 // Retired police officers Ed and Nancy McCue are thinking about leaving their dream home near the shores of Biscayne Bay because it’s in a prime area for hurricanes. It’s not the storm threat itself that’s...
Survey: Pricing Surpasses Terrorism as Top Concern
Jul 2 2004 // An industry survey reveals that pricing is the top of concern facing major reinsurers and carriers in 2004, dramatically surpassing last year’s survey results where the top concern was terrorism. According to the...
AAIS Prepares to File New Terrorism Endorsements
Jun 24 2004 // The American Association of Insurance Services (AAIS), a national insurance advisory organization, announced that it is preparing a countrywide filing of new terrorism endorsements insurers can use in anticipation of the...
FLORIDA CFO WARNS OF HURRICANE PREPAREDNESS:
Jun 21 2004 // With explosive state population growth and experts predicting the formation of more than 12 named Atlantic storms, Florida’s Chief Financial Officer Tom Gallagher issued a warning recently to Floridians to prepare....
Entertainment, Terrorism Don’t Mix
Jun 21 2004 // I don’t know about you, but I love to attend concerts, festivals, sporting events… just about anything that draws a big crowd. The mass gathering of people brings to the event a certain excitement that smaller...
Entertainment and Terrorism Don’t Mix
Jun 21 2004 // I don’t know about you, but I love to attend concerts, festivals, sporting events… just about anything that draws a big crowd. The mass gathering of people brings to the event a certain excitement that smaller...
