Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
New Mexico Delegation Seeks Changes to Wildfire Aid Rules
Jan 11 2023 // New Mexico’s congressional delegation says the U.S. government should make changes to rules proposed for processing damage claims stemming from a historic wildfire sparked by forest managers. The delegation sent a...
Cat Bond Investors Demand Higher Premiums as Weather Becomes More Extreme
Jan 11 2023 // Investors in the $35 billion catastrophe bond market are demanding the highest premiums in years to cover issuers against disasters, as weather events become more extreme while interest rates rise. Margins on new issuances...
New Louisiana Laws Require Hurricane Mediation Program, Catastrophe Response Plan
Jan 10 2023 // Louisiana lawmakers passed several bills last legislative session in response to insurers’ handling of recent natural disasters, five of which went into effect Jan. 1, 2023. The legislation resulted from a shaken...
Hurricanes and Floods Bring $120B in 2022 Insurance Losses: Munich Re
Jan 10 2023 // Hurricane Ian in the United States and floods and Australia helped to make 2022 one of the costliest years on record for natural disasters, Munich Re said on Tuesday, warning that climate change was making storms more...
California – Mega Catastrophe Ground Zero
Jan 9 2023 // California’s destructive Christmas Eve and January storms are a grim reminder that the state is perilously exposed to massive flooding. A paltry 215,000 Californians—less than 2 percent of the state’s...
Hawaii’s Kilauea Volcano Erupts Again, Summit Crater Glows
Jan 9 2023 // Hawaii’s Kilauea began erupting inside its summit crater, the U.S. Geological Survey said, less than one month after the volcano and its larger neighbor Mauna Loa stopped releasing lava. The Hawaiian Volcano...
Beazley Launches Global Re/insurance Market’s First Cyber Catastrophe Bond
Jan 9 2023 // Specialist insurer Beazley has launched the global insurance market’s first cyber catastrophe bond. The $45 million bond gives Beazley indemnity against all perils in excess of a $300 million catastrophe event, with...
Insured Damages in Canada From Hurricane Fiona Now Top C$800M
Jan 6 2023 // Insured damages from Hurricane Fiona are now estimated at over C$800 million (US$591.2 million), according to the Insurance Bureau of Canada (IBC), quoting the Catastrophe Indices and Quantification Inc. (CatIQ). Hurricane...
Storms Spark At Least 6 Illinois Tornadoes
Jan 5 2023 // CHICAGO (AP) – Severe weather that swept Illinois on Tuesday produced at least six tornadoes, the largest number of rare January tornadoes recorded in the state since 1989, the National Weather Service said. Five of the...
California Commissioner Alert Notes Coverage for Floods and Mudslides Caused by Wildfires
Jan 5 2023 // California Insurance Commissioner Ricardo Lara on Wednesday issued a formal notice to insurance companies reminding them of their legal duty to cover damage from any future mudslide or similar disaster that is caused by...
January Renewals See Hardest Property Catastrophe Reinsurance Rates in Generation
Jan 4 2023 // A convergence of global events has led to the hardest property-catastrophe reinsurance market in a generation and a “complex,” “grueling” and “late” January renewal season, which went...
New Mexico Seeking Changes to U.S. Rules for Wildfire Claims
Jan 3 2023 // New Mexico Attorney General Hector Balderas is asking that changes be made to rules proposed by the U.S. government as it processes damage claims from a historic wildfire sparked by forest managers. Balderas filed comments...
M5.4 Earthquake in Northern California Confirmed in area Damaged in Earlier Quake
Jan 3 2023 // A moderate New Year’s Day earthquake rattled the region of Northern California where a stronger quake nearly two weeks ago killed two people and left widespread damage, authorities said. The earthquake with a...
Global Natural Catastrophe Insurance Losses Estimated at $112B in 2022: Carpenter
Dec 30 2022 // Global insurance losses for natural catastrophes are projected to reach $112 billion in 2022, reinsurance broker Guy Carpenter said on Friday, driven by the impact of Hurricane Ian which hit Florida earlier this...
No Damage, Injuries From M4.2 Northern California Earthquake
Dec 28 2022 // A 4.2-magnitude earthquake rattled Northern California on Christmas Eve in the same county where a large quake days earlier killed two people and left widespread damage, authorities said. The quake struck at 11:33 a.m....
Talent Gap, Access to Healthcare for Transgender Patients, and Hurricane Ian Recovery
Dec 28 2022 // This post is part of a series sponsored by AgentSync. State by state variations of laws, compliance protocols, industry transparency, and general regulatory cultures can lend one the impression that keeping up with...
Progressive Lowers Loss Estimate From Hurricane Ian By $400M
Dec 22 2022 // The Progressive Corp. said Dec. 21 that its loss and allocated loss adjustment expenses (ALAE) in the property business are estimated to be $1 billion from, prior to reinsurance, from Hurricane Ian. The insurer said this...
Families Shattered by Tornadoes in Gulf
Dec 20 2022 // A storm system that spawned dozens of reported tornadoes from Texas to the Florida Panhandle was all but done with the South last Thursday after killing at least three people and uprooting families across Louisiana, where...
Small 3.6 Earthquake Confirmed in Northern California
Dec 19 2022 // A small magnitude 3.6 earthquake struck the San Francisco Bay Area, jolting thousands of people awake and causing minor damage, the U.S. Geological Survey confirmed. The earthquake occurred at 3:39 a.m. Saturday and was...
Investigators in West Texas Following 5.4 Earthquake
Dec 19 2022 // MIDLAND, Texas (AP) – The Texas Railroad Commission, which oversees the state’s oil and gas industry, on Saturday sent investigators to west Texas following a 5.4 magnitude earthquake near Midland. “RRC...
