Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Catastrophe Bond Sales Soar as Markets Brace for Unusually Active Hurricane Season
Jun 10 2024 // Issuance of catastrophe bonds just hit a record high, as the market braces for a rough hurricane season with the potential to do substantial damage. Sales of so-called cat bonds are 38% higher this year through May than...
ShakeAlert Adding Satellite Capabilities for Earthquake Warnings
Jun 10 2024 // The U.S. Geological Survey and its partners have come out with a new capability designed to characterize large earthquakes quickly in hopes of helping warn the public about potentially damaging shaking headed their...
A Perfect Storm: Looking Ahead to the 2024 Hurricane Season
Jun 7 2024 // This post is part of a series sponsored by CoreLogic. The Atlantic and Gulf Coasts of the United States are officially in hurricane season, which every year starts on June 1 and lasts through the end of November. People...
Louisiana’s Temple Meets With Insurers Ahead of Potentially Active Hurricane Season
Jun 7 2024 // Louisiana Insurance Commissioner Tim Temple recently met with 20 property and casualty insurers ahead of this year’s Atlantic Hurricane Season to make sure insurers are prepared to handle claims following a hurricane...
Emerald Bay and Arrowhead Launch Commercial Earthquake Facility in California, Pacific Northwest
Jun 7 2024 // Emerald Bay Risk Solutions and Arrowhead General Insurance Agency Inc. have launched a commercial earthquake facility that provides difference in conditions insurance policies for medium to large businesses. Arrowhead EQ...
Tornadoes Touch Down Across US, Killing Toddler in Michigan and Injuring 5 in Maryland
Jun 7 2024 // LIVONIA, Mich. (AP) — A tornado killed a 2-year-old boy and injured his mother Wednesday when a tree fell on their house in suburban Detroit, while emergency workers in Maryland were responding to reports of collapsed...
Firefighters Increase Containment on California’s First Big Wildfire of the Season
Jun 4 2024 // California’s first big fire of the season is nearly fully contained, as rising temperatures across the West this week are increasing the risk of wildfires. The Corral fire, burning east of San Francisco in San...
Florida OIR Posts 2024 Catastrophe Claims Reporting Form
Jun 4 2024 // The Florida Office of Insurance Regulation has posted a new reporting form for catastrophe claims data for the 2024 hurricane season. Florida law requires property insurers to report a wide range of information after...
Tallahassee Mayor Says Tornado Costs Now Top $50 Million
Jun 4 2024 // TALLAHASSEE, Fla. (AP) — Recovery from a May 10 tornado outbreak has cost Florida’s capital city $50 million so far, Tallahassee Mayor John Dailey said Friday. Florida officials have requested that the Federal...
Oregon Utility Regulator Rejects PacifiCorp Request to Limit Liability in Wildfire Suits
Jun 4 2024 // Oregon utility regulators have rejected a request from PacifiCorp that sought to limit its liability in wildfire lawsuits. Under the proposal, PacifiCorp would only have been responsible for paying out actual economic...
AccuWeather: Year’s First Big Heatwave Raises Wildfire Risk in West
Jun 3 2024 // Severe heat will raise the risk of brush and grassfires from central and northern California, also bringing a moderate to and high risk of wildfires in parts of Arizona and New Mexico, a forecast out on Monday shows. The...
Insurance Council of Texas Offers Tips for Hurricane Preparation
Jun 3 2024 // With June marking the start of 2024 Atlantic Hurricane Season, the Insurance Council of Texas (ICT) is reminding residents of steps to take to prepare for hurricanes. The National Oceanic and Atmosphere Administration...
Firefighters Battle California Wildfire With Hot Weather in the Forecast
Jun 3 2024 // Firefighters battling a California wildfire burning east of San Francisco have increased containment on the fire, but hot weather is in the forecast for the next few days. Nearly 500 firefighters, along with several air...
Busy Hurricane Season Could Test NC’s ‘Weakened’ Building Codes, Experts Say
Jun 3 2024 // The 2024 Atlantic hurricane season, predicted to be unusually intense, officially began this week and it could soon bring the first test of a North Carolina law that some insurance experts have said weakens building codes...
Utility Launches Shutoff Plan Aimed at Preventing Another Wildfire Like Lahaina
Jun 3 2024 // More than 48,000 Hawaiian Electric Co. customers living in some of the state’s driest areas will soon face the prospect of advance power shutoffs — and outages that could last several days — in order to reduce...
Standalone Terrorism Coverage- First Party Coverage
Jun 3 2024 // This post is part of a series sponsored by TSIB. You worked hard to manage an acceptable outcome for your insurance renewal, answered countless underwriting queries, finally give your broker the order to bind, and you find...
Greater Chance of Major Hurricane on the East Coast This Year, But Less in Gulf, Scientist Says
Jun 3 2024 // Multiple computer models from forecasting organizations across the globe have predicted a very active hurricane season starting next month, spelling trouble for much of the coastal Southeastern tates. The models are...
Oregon Wineries and Vineyards Seek $100M from PacifiCorp for Wildfire Smoke Damage
May 31 2024 // Dozens of Oregon wineries and vineyards have sued PacifiCorp over the deadly 2020 wildfires that ravaged the state, alleging that the utility’s decision to not turn off power during the Labor Day windstorm...
Kentucky Families Struggling After Being Hit Second Time by Tornadoes
May 30 2024 // BARNSLEY, Ky. (AP) — Devin Johnson’s life was uprooted for a second time when a tornado flattened his home over the Memorial Day weekend — on the same lot in Kentucky where another storm left him homeless in...
Property-Catastrophe Reinsurance Rates Drop by 5% at June Renewals: Howden Re
May 30 2024 // Property-catastrophe rates saw some moderating trends during the June 1 reinsurance renewals, with average risk-adjusted rates-on-line decreasing by 5% within a typical range of -7.5% to -2.5%, according to Howden Re, the...
