Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
The U.S. Leads the World in Weather Catastrophes – Here’s Why
Apr 3 2023 // The United States is Earth’s punching bag for nasty weather. Blame geography for the U.S. getting hit by stronger, costlier, more varied and frequent extreme weather than anywhere on the planet, several experts said....
Residents Across South, Midwest Reel From Pack of Tornadoes That Killed 26
Apr 3 2023 // WYNNE, Ark. (AP) – Residents across a wide swath of the South and Midwest raced to assess the destruction wreaked by storms that dropped possibly dozens of tornadoes and killed at least 26 people in small towns and...
New Mexico and Arizona Officials Warn of Wildfire Risk as Southwest Dries out
Apr 3 2023 // Snowcapped mountains in the Southwestern U.S. signal a possible delayed start to the wildfire season for some higher elevations, but officials in New Mexico and Arizona warned that dry, windy conditions in other areas are...
Nine People Killed in Tennessee in Powerful Tornado System that Hit Region
Apr 3 2023 // Nine people died in Tennessee’s McNairy County, east of Memphis, in the same deadly storm system that pounded parts of Arkansas and Illinois, according to Patrick Sheehan, director the Tennessee Emergency Management...
Arkansas Tornado Survivors Recount Flying Debris, Destroyed Buildings
Apr 3 2023 // WYNNE, Ark. (AP) – With tornadoes hitting the Midwest and the South this weekend, some survivors said they emerged from their homes to find buildings ripped apart, vehicles tossed around like toys, shattered glass...
Florida Governor Turns Heads with Comment that Citizens Insurance is ‘Not Solvent,’ Just as Board Approves Catastrophe Bond
Apr 3 2023 // Florida Gov. Ron DeSantis raised some questions when he suggested that Citizens Property Insurance Corp., the state-created insurer, has “not been solvent” and may be unable to pay all claims from a major...
Markets/Coverages: Reinsurance Tech Firm Tremor Launches Cat Bond Issuance Platform
Mar 30 2023 // Tremor Technologies Inc., the Boston-based reinsurance pricing and placing platform, has launched a catastrophe bond issuance platform called Tremor Issuer™. Tremor Issuer is part of the suite of Tremor services that can...
Typhoon-Prone Philippines to Launch Insurance Plan for Infrastructure Losses
Mar 30 2023 // The Philippines is readying an insurance plan that will protect the Southeast Asian nation from infrastructure losses caused by natural disasters, seeking to better respond to climate change risks. The government will put...
Southeast Beware: More Killer Tornadoes on the Way, Study Says
Mar 29 2023 // America will probably get more killer tornado- and hail-spawning supercells as the world warms, according to a new study that also warns the lethal storms will edge eastward to strike more frequently in the more populous...
Colombia, Peru Eye World Bank Catastrophe Bonds on Renewed Investor Interest
Mar 29 2023 // Colombia and Peru are considering returning to a World Bank program that issues bonds to cover claims on natural disasters after the plan faced a nearly two-year lull. The countries are among those looking to take...
Mississippi Insurance Agency, Like Others Hit by Storms, Vows to Rebuild After Tornado
Mar 29 2023 // For the third time in the last 18 months, tornadoes or a hurricane have wiped out or have heavily damaged well-established insurance agencies in the Southeast. And all three of those agencies have rebuilt their businesses...
$1.5M for California Homeowners Overcharged Under Wildfire Risk Score
Mar 29 2023 // Kemper Independence Insurance Co. has issued more than $1.5 million in refunds to thousands of California homeowners after the California Department of Insurance found the carrier overcharged policyholders for wildfire...
Credit Suisse’s Catastrophe Bonds Should Outlive the Bank: DBRS Morningstar
Mar 27 2023 // Bonds designed to insure Credit Suisse Group AG against disaster could outlive the bank. Credit Suisse’s Operational Re bonds, insurance-linked securities that cover the bank against perils such as falling victim to...
Tornadoes Wipe Out Parts of Mississippi Towns, Leave 25 Dead
Mar 27 2023 // A powerful tornado tore through the Mississippi Delta on Friday night, killing at least 25 people, injuring dozens and causing widespread property damage. The weather system produced hail the size of golf balls and left...
Long-Term Drought in Spain Expected to Bring More Heatwaves, Wildfires
Mar 23 2023 // MADRID (AP) – Spain has officially entered a period of long-term drought, owing to high temperatures and low rainfall over the past three years, and likely faces another year of heatwaves and forest fires. The...
Natural Catastrophes Cost Insurers $125 Billion in 2022: Swiss Re
Mar 22 2023 // Natural disasters in 2022 brought global economic losses of US$275 billion, of which insurance covered 45%, or US$125 billion, according to Swiss Re’s latest sigma report. Claims from Hurricane Ian in Florida, record...
Insurer Spots Cybersecurity Weakness With Model Simulating Catastrophic Attacks
Mar 22 2023 // Coalition Inc., a cyber-insurance provider that tries to curb digital risk, has designed technology that simulates large-scale attacks to help insurers identify potential weaknesses in their portfolios and prevent...
Chile Completes $630M Earthquake Insurance Deal With World Bank
Mar 20 2023 // Chile has agreed to an earthquake insurance program with the World Bank protecting it from $630 million worth of damage from strong earthquakes, in an effort to shore up risks to public debt from possible natural...
DeSantis Turns Heads with Comment that Citizens Insurance ‘Not Solvent;’ Board Approves Cat Bond
Mar 20 2023 // Florida Gov. Ron DeSantis raised some questions Friday when he suggested that Citizens Property Insurance Corp., the state-created insurer, has “not been solvent” and may be unable to pay all claims from a...
Assisting Insurers with Compliance Under California’s New Wildfire Insurance Regulations
Mar 15 2023 // This post is part of a series sponsored by CoreLogic. Over the past five years, wildfires have been particularly devastating across California, leading insurers, homeowners, and regulators to reconsider how they manage and...
