Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
M4.1 Earthquake Shook Parts of Los Angeles Area: USGS
May 2 2024 // A magnitude 4.1 earthquake shook parts of the Los Angeles Area, including the cities of Corona, Anaheim, and Santa Ana on at 1:49 p.m. local time on the afternoon of Wednesday, the USGS confirmed. The epicenter was in the...
1 Person Killed, Homes Destroyed After Tornado Rips NE Kansas
May 2 2024 // WESTMORELAND, Kan. (AP) — One person died Tuesday when a tornado ripped through the small city of Westmoreland in northeastern Kansas, destroying houses, RVs and outbuildings, authorities said. Pottawatomie County...
AIG Profit Exceeds Expectations on Lower Catastrophe Losses
May 2 2024 // American International Group Inc. (AIG) reported profit above analysts’ estimates in the first quarter as lower-than-expected catastrophe losses contributed to strong underwriting results. Adjusted earnings for the...
Growing Wildfire Risk Leaves States Grappling With How to Keep Insurers From Fleeing
May 1 2024 // Months after a catastrophic fire burned more than 2,200 homes in Hawaii, some property owners are getting more bad news—their property insurance won’t be renewed because their insurance company has deemed the risk...
Tornadoes Damaged 7,200 Residential Properties, Left $2B in Reconstruction Costs
May 1 2024 // The tornadoes that ripped through parts of Nebraska, Iowa and Oklahoma late last week damaged some 7,200 homes, leaving a reconstruction tab of $2.1 billion, according to CoreLogic, the data analytics firm. Some 127...
Warren Buffett’s PacifiCorp Now Faces $30B Claim Demand in Oregon Wildfires
May 1 2024 // Berkshire Hathaway Inc.’s PacifiCorp now faces a demand for $30 billion from victims of Oregon’s 2020 Labor Day wildfires, an escalation of a legal onslaught on the largest grid operator in the western...
Tornadoes Kill 4 in Oklahoma, Leaving Trail of Destruction
Apr 30 2024 // SULPHUR, Okla. (AP) — Tornadoes killed four people in Oklahoma, including an infant, and left thousands without power Sunday after a destructive outbreak of severe weather flattened buildings in the heart of one rural...
Tornado in Southern China Kills 5 People, Damages Factories in City of Guangzhou
Apr 30 2024 // A tornado struck the southern Chinese city of Guangzhou on Saturday, killing five people and damaging more than 140 factory buildings, state media said. The China Meteorological Administration said the tornado struck about...
Parts of US Gulf Coast Face Possible Tornadoes: Weather Watch
Apr 29 2024 // States across the US Gulf Coast are bracing for possible tornadoes as certain parts of the region face a marginal risk of severe thunderstorms, according to the US Storm Prediction Center. Severe thunderstorm warnings and...
Multiple Tornadoes Hit Nebraska and Iowa, Leaving Trails of Damage
Apr 28 2024 // OMAHA, Neb. (AP) — A tornado plowed through suburban Omaha, Nebraska, on Friday, damaging hundreds of homes and other structures as it tore for miles along farmland and into subdivisions. Some injuries were reported but...
New Jersey Forest Service Says 510-Acre Wharton Wildfire Is 100% Contained
Apr 25 2024 // The New Jersey Forest Fire Service said it has reached 100% containment of a 510-acre wildfire in the area of Jackson Rd. in Wharton State Forest. The fire burned in both Waterford Twp, Camden County and Shamong Twp,...
Markets/Coverages: Ariel Re and Hiscox Re & ILS Launch Cyber Catastrophe Consortium
Apr 25 2024 // Re/insurer Ariel Re and Hiscox Re & ILS, the reinsurance and insurance linked securities arm of insurer Hiscox, announced the launch of CyberShock, a cyber catastrophe consortium. The CyberShock consortium is designed...
SageSure and SURE Close $130 Million Gateway Re 2024-2 Catastrophe Bond
Apr 25 2024 // SageSure, a managing general underwriter focused on catastrophe-exposed markets, and SureChoice Underwriters Reciprocal Exchange (“SURE”), a policyholder-owned reciprocal exchange, announced the close of the...
Catastrophe Monitoring Firm ICEYE Completes $93 Million Funding Round
Apr 24 2024 // ICEYE, the microsatellite manufacturer and catastrophe monitoring company, announced definitive agreement signed for an oversubscribed $93 million growth funding round. The financing will further accelerate investment in...
Hawaii Lawmakers Take Aim at Vacation Rentals After Wildfire Amplifies Housing Crisis
Apr 24 2024 // Amy Chadwick spent years scrimping and saving as a single mother of two to buy a house in the town of Lahaina on the Hawaiian island of Maui. But after a devastating fire leveled Lahaina in August and reduced...
Risk Perception Drops After Hurricanes: Study
Apr 23 2024 // As time passes after hurricanes, new analysis by Stanford University researchers shows perception of personal risk, including the likelihood of injury and home damage, decline. The findings suggest that programs and...
Wildfires in Canada’s Oil Sands Region Prompts Evacuation Orders
Apr 23 2024 // Wildfires erupted across Canada’s main oil producing province of Alberta and an evacuation order was issued as the region braces for a repeat of last year’s unprecedented season. Members of the indigenous first...
What Is Volt Typhoon, the Hacking Group the FBI Warns Could Deal a ‘Devastating Blow’?
Apr 22 2024 // China is developing the “ability to physically wreak havoc” on U.S. critical infrastructure and its hackers are waiting “for just the right moment to deal a devastating blow,” FBI Director...
Highlights of Reports on Deadly 2023 Hawaii Wildfire
Apr 22 2024 // More than half a year after the deadliest U.S. wildfire in more than a century burned through a historic Maui town, officials are still trying to determine exactly what went wrong and how to prevent similar catastrophes in...
People Moves: AEGIS London Hires AIG’s Johnson and Lambert for New Cyber Underwriting Team; Markel Promotes Gordge to Head of Terrorism in London
Apr 19 2024 // This edition of International People Moves details appointments at Lloyd’s syndicate AEGIS London and Markel, the insurance operations within Markel Group. A summary of these new hires follows here. AEGIS London...
