Latest Natural Disasters Headlines
All the headlines from our Natural Disasters Topic Page, ordered by recency.
Neb. to Disapprove Terrorism, Nuclear Exclusions in Personal Lines
Feb 27 2002 // The Nebraska Insurance Department announced it will disapprove terrorism exclusions in personal lines insurance, including exclusions for nuclear and bio-terrorism risks. National Association of Independent Insurers (NAII)...
CDI Grant Program to Offer Protection from Catastrophic Earthquake Damage
Feb 25 2002 // The California Department of Insurance (CDI) is implementing Phase 7 of its Earthquake Retrofit Grant Program and including two central valley counties, San Joaquin and Stanislaus, to offer protection for valley homes from...
Active Hurricane Season Expected for 2002
Feb 25 2002 // What is a Hurricane? A hurricane is a type of tropical cyclone—a generic term for a low pressure system that generally forms in the tropics. The cyclone is accompanied by thunderstorms and, in the Northern Hemisphere, a...
Swiss Re Report on Terrorism Insurance Endorses Public/Private Solution
Feb 22 2002 // Swiss Re has released a study entitled “Terrorism — dealing with the new spectre,” which concludes that the most promising approach to the problem of terrorism insurance is a “public/private...
Policyholders Launch Coalition to Seek Passage of Terrorism Insurance Plan
Feb 14 2002 // A number of leading trade associations and individual companies have joined together to speak for business insurance policyholders as part of a continuing effort to win passage of a terrorism insurance plan on Capitol...
AIR Releases New Earthquake, Typhoon Models for Japan, Australia
Feb 5 2002 // Boston-based Applied Insurance Research, Inc. (AIR), a leading catastrophe modeling firm, has released the 2002 versions of its earthquake and typhoon models for the Asia-Pacific region, in time for the April 1st renewals...
Workers’ Comp Struggling without Terrorism Exclusion
Feb 5 2002 // Insurers feeling the effects of Sept. 11 have taken desperate measures to stay afloat by increasing rates and rewriting policies with little room for loss. Workers’ compensation continues to have a hard time keeping...
NAII Urges Terrorism Exclusions for Personal, Commercial Lines
Jan 30 2002 // The National Association of Independent Insurers (NAII) is urging state insurance regulators to consider personal lines exclusions on a case-by-case basis for insurers that demonstrate the potential for solvency problems...
Without Federal Help, Terrorism Coverage Could be Months or Years Away
Jan 22 2002 // According to the Washington Post, insurance executives told state regulators in Washington, D.C., last week that minus federal help, it could be months or years until they can provide terrorism coverage. They added...
Regulators Should be Deliberate, Flexible When Considering Personal Lines Terrorism Exclusions
Jan 18 2002 // The National Association of Independent Insurers (NAII) has urged insurance regulators to “move with deliberation…on terrorism exclusions for personal lines” and to remain flexible when considering such...
AAIS Files Revised Terrorism Exclusions
Jan 17 2002 // The American Association of Insurance Services (AAIS) has completed a countrywide filing of revised commercial lines endorsements for excluding insurance coverage for losses resulting terrorism. In a related matter, AAIS...
Alliance Urges Calif. and N.Y. to Reconsider Terrorism Exclusions
Jan 14 2002 // Rodger S. Lawson, Ph.D., president of the Alliance of American Insurers, released the following statement questioning the logic of the decision by the California and New York insurance departments to deny the ISO...
Without Terrorism Exclusions, Surplus Lines Insurers Hold Out Lifeline to Calif., N.Y. Businesses
Jan 14 2002 // AccordingSurplus lines insurers may offer hope for businesses to remain insured in those states, like California and New York, that are refusing to allow insurers to exclude terrorism risks in commercial insurance...
Senate Fails to Act on Federal Terrorism Reinsurance
Jan 14 2002 // During the first weeks of December, covering the story of whether or not Congress would pass a federal terrorism reinsurance bill before the year 2001 was out was pretty much a waiting game. At the time, most insurance...
Senate Fails to Act on Federal Terrorism Reinsurance Bill
Jan 14 2002 // During the first weeks of December, covering the story of whether or not Congress would pass a federal terrorism reinsurance bill before the end of 2001 was pretty much a waiting game. At the time, most insurance industry...
NAII Claims CDI Unreasonably Forces Insurers to Provide Terrorism Coverage
Jan 10 2002 // California State insurance regulators announced that insurance companies must offer terrorism coverage even though Congress has failed to provide an essential backstop for insurers in the event of future terrorism...
NY Rejects Broad Terrorist Exclusions
Jan 9 2002 // New York State Insurance Department Superintendent Gregory V. Serio has reportedly rejected requests from the insurance community and the NAIC to permit the endorsement of broad “terrorist exclusion” provisions...
Lemac and Associates Unveils New Earthquake Facility
Jan 1 2002 // California-based Lemac & Associates has unveiled a new earthquake facility. Highlights of the program include $5,000,000 limit per building, $7,500,000 per location; a deductible that can be as low as 2 percent in...
RIMS Urges Congress to Readdress Need for Terrorism Reinsurance
Dec 28 2001 // With the Senate not addressing the issue of federal terrorism reinsurance legislation before the end of the year, The Risk and Insurance Management Society Inc. (RIMS) expressed its disappointment. The Jan. 1 renewal date...
Council of Insurance Agents + Brokers Responds to Failure of Federal Terrorism Reinsurance Legislati
Dec 24 2001 // In response to no Congressional action being taken on federal terrorism reinsurance legislation died in 2001, Ken Crerar, president of The Council of Insurance Agents + Brokers, stated that the move was a disappointment to...
