Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Consumer Specialists Available to Assist Tornado-Impacted Missouri Residents
Aug 8 2023 // The Missouri Department of Commerce and Insurance (DCI) said that consumer specialists will be on-site at the Multi-Agency Resource Center in Knox County, Missouri, to answer insurance questions and assist residents...
Inflation, Catastrophe Losses Lead P&C Underwriting Loss in 2023
Aug 8 2023 // The overall property/casualty industry is expected to finish 2023 with a net combined ratio of 102.2, according to a recent webinar by the Insurance Information Institute (Triple-I) and Milliman. Triple-I and Milliman...
Insured Loss Estimate for Turkey Earthquake Rises to US$3.4 Billion: PERILS
Aug 8 2023 // The third loss estimate for the Kahramanmaras Earthquake Sequence, which hit large parts of south-central Turkey and neighboring Syria on Feb. 6, 2023, has risen to $3.4 billion, according to PERILS, the independent...
Pfizer Taking More Steps to Manage Inventory After NC Tornado Destroyed Warehouse
Aug 8 2023 // Pfizer Inc. said on Thursday it will begin making some products available only through its emergency ordering process, as part of steps to manage inventory at its North Carolina facility that was struck by a tornado last...
Compensation for New Mexico Wildfire Victims Tops $14M and is Climbing
Aug 7 2023 // More victims of a devastating wildfire sparked last year by the U.S. Forest Service in northern New Mexico are getting compensated, with payouts to landowners totaling more than $14 million as of early next week, federal...
Swiss Re H1 Net Income Surges to $1.4B on Lower Natural Catastrophe Losses
Aug 4 2023 // Swiss Re AG said first-half net income rose more than ninefold to $1.4 billion from a year earlier, driven by contained natural catastrophe losses and a rebound in its life and health business to pre-pandemic levels. Net...
Forecasters Stress Uncertainty in Latest Hurricane Forecast
Aug 4 2023 // Forecasters from Colorado State University (CSU) stressed uncertainty in their latest outlook on Thursday for the current Atlantic hurricane season, even as they held steady the number of storms expected. This year’s...
Europeans Lack Insurance Protection as Wildfires and Drought Batter the Region
Aug 3 2023 // Europeans are among the least insured against certain types of extreme weather and other natural disasters in the developed world, a predicament made more worrisome as the continent suffers a summer of devastating heat,...
Blazing a New Trail: Oregon Wildfire Regulatory Compliance
Aug 2 2023 // This post is part of a series sponsored by CoreLogic. Due to the ever-changing insurance market, property and casualty insurers across the country face multiple challenges today that can commonly disrupt their business...
Some Gains Made on 80K Acre Southern California Wildfire
Aug 1 2023 // Containment on an 80,000-plus-acre wildfire in Southern California grew to 23% on Tuesday, as firefighters made some progress against the state’s most massive ongoing blaze. It was listed as being at 0% containment a...
Allstate Records $2.7B Net Catastrophe Hit on Way to Q2 Loss of $1.4B
Aug 1 2023 // Allstate Corp. reported net catastrophe losses of $2.7 billion in the second quarter, resulting in a net loss for the period of $1.4 billion as catastrophe and underwriting losses offset other favorable factors. President...
Wildfire Risk Climbs for Spain as Heat Wave Moves to Iberia
Jul 31 2023 // The focus of Europe’s heat is switching to Spain, with a high risk of wildfires in southern parts of the Iberian peninsula. Southern Spain is expected to exceed 40C (104F) on Monday, with regions around Cordoba under...
CNA Financial Misses Profit Estimates on Higher P/C Catastrophe Losses
Jul 31 2023 // Insurer CNA Financial missed second-quarter profit estimates on Monday, as wider catastrophe losses in its property and casualty (P&C) segment partially offset higher investment income. Profits at insurers came under...
Update: Typhoon Doksuri Roars Into China, Destroying Power Lines, Closing Factories
Jul 28 2023 // Typhoon Doksuri swept into southern China on Friday, unleashing heavy rain and violent gusts of wind that whipped power lines and sparked fires, uprooted trees, and ripped off part of a stadium roof. The typhoon is the...
Update: Greece Fights Almost 200 Wildfires as Wind Raises Risk in Mediterranean
Jul 27 2023 // Greece is fighting almost 200 wildfires as strengthening winds put a sting in the tail of the Mediterranean’s fading heat wave. More villages in mainland Greece were evacuated on Thursday as blazes threatened, while...
Typhoon-Prone Philippines Seeks New Insurance After Lapse of Catastrophe Bond
Jul 27 2023 // The Philippines, recovering from damage wrought by Typhoon Doksuri, is seeking a new insurance plan as protection against future calamities after its catastrophe bond lapsed. “We no longer have a cat bond,”...
Operation Begins to Remove Oil From Rusting Yemen Tanker to ‘Avoid Catastrophe’: UN
Jul 27 2023 // An international team began siphoning oil out of a decrepit oil tanker off the coast of Yemen on Tuesday, the United Nations chief said, a crucial step in a complex salvage operation aiming to prevent a potential...
Homeowners Affected by Hurricanes Urged to Complete Restore Louisiana Survey by August 1
Jul 26 2023 // Louisiana Gov. John Bel Edwards and the Office of Community Development announced that homeowners impacted by Hurricanes Laura, Delta, Ida and the May 2021 severe storms have until August 1 to complete the Restore...
Mississippi Governor Asks for Federal Assistance After Tornado Damage
Jul 26 2023 // Mississippi Gov. Tate Reeves has requested financial assistance from the federal government for 16 counties hit by tornadoes and damaging storms that hammered the state over a five-day period in June, he announced...
Markets/Coverages: New Lloyd’s Syndicate Provides E&S Cover for Calif. Wildfire Risks
Jul 26 2023 // Wildfire Defense Systems Inc., Polo Managing Agency Ltd. (PMA) and Aon, announced Lloyd’s has approved the launch of Wildfire Defense Syndicate 1996, which started underwriting on July 1, 2023. Created under...
