Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Pacific and Atlantic Hurricanes Norma and Tammy Hit Mexico and Barbuda
Oct 23 2023 // Hurricane Norma came ashore near the Pacific resort of Los Cabos at the southern tip of Mexico’s Baja California Peninsula on Saturday afternoon. Hours later, Hurricane Tammy made landfall on the Caribbean island of...
M4.2 Earthquake Confirmed in Northern California, Set off Quake Alert
Oct 20 2023 // A magnitude 4.2 earthquake shook part of Northern California between the state capital and the San Francisco Bay region on Wednesday, setting off automated quake alerts, the U.S. Geological Survey confirmed. The 9:29 a.m....
Allstate Says Q3 Catastrophe Losses Were $1.2 Billion
Oct 19 2023 // Allstate Corp. today reported September catastrophe losses of $317 million and total catastrophe losses for the third quarter of about $1.2 billion pretax. Seventeen events in September resulted in catastrophe losses of...
The Hanover Expects $196M in Q3 Catastrophe Losses
Oct 19 2023 // Ahead of its third quarter earnings announcement early next month, The Hanover Insurance Group released a preliminary estimate of catastrophe losses of nearly $196 million primarily from multiple convective storms in the...
PG&E’s Plan to Bury Power Lines and Prevent California Wildfires Faces Opposition over Rates
Oct 19 2023 // Pacific Gas & Electric – one of the nation’s largest utilities whose equipment has sparked some of California`s deadliest wildfires – wants to bury power lines in some of its most at-risk areas to prevent...
Travelers Q3 Net Income Down 11% on Catastrophe Losses, Reserve Development
Oct 18 2023 // Third quarter net income at Travelers Cos. fell 11% compared to the prior-year quarter to $404 million on higher catastrophe losses and unfavorable reserve development. As one of the first insurers to report quarterly...
Viewpoint: Logic & Language, Forms & Facts – Revisiting Terrorism Issues
Oct 17 2023 // “Yesterday was my son’s 12th birthday but he didn’t spend it unwrapping presents or gorging on ice cream and cake. Most of our evening was spent solemnly observing unspeakable horror and devastation as...
Florida Citrus Forecast Improves Over Last Year When Hurricanes Hit State
Oct 16 2023 // The forecast for Florida citrus, the state’s signature crop, is expected to improve in the upcoming season compared to last year when twin hurricanes battered the state at the start of the citrus season, according to...
Catastrophe Bond Market Defies Global Selloff With Record Returns
Oct 16 2023 // As bond markets everywhere get battered by a cocktail of higher interest rates, deficit angst and hawkish central bankers, one class of debt instrument is handing creditors double-digit returns: catastrophe...
Homeowners Face Rising Insurance Rates as Climate Change Makes Wildfires, Storms More Common
Oct 16 2023 // A growing number of Americans are finding it difficult to afford insurance on their homes, a problem only expected to worsen because insurers and lawmakers have underestimated the impact of climate change, a new report...
Judge Denies Firm’s Claim for Hurricane Damages Lawsuit Fees
Oct 16 2023 // A federal judge rejected a request by McClenny Moseley & Associates to claim an interest in legal fees and expenses from a hurricane damage lawsuit, saying the law firm obtained its clients illegally by using a...
Possible Tornadoes Cause Damage in Parts of Florida
Oct 13 2023 // CLEARWATER, Fla. (AP) — A storm system that moved across parts of Florida early Thursday left a path of damage to cars, houses and businesses, authorities said. The storms moved north into Citrus County, where...
PG&E to Pay $45M for Second-Largest California Wildfire
Oct 12 2023 // PG&E Corp. will pay a $45 million penalty for its role in starting the second-largest wildfire in California history under a settlement proposal issued by state regulators. The California utility giant agreed to the...
Viewpoint: Reinsurance Solution Would Help Homeowners Exposed to Wildfires Face the Challenge
Oct 12 2023 // Wildfire has become an increasingly challenging threat in many Western States. With an ever-increasing frequency and intensity, this continues to pose a serious threat to lives and properties across the exposed area....
Wildfire Risk Management Starts by Properly Using a Full Toolbox
Oct 10 2023 // This post is part of a series sponsored by CoreLogic. Welcome to the third installment of our four-part series on wildfire hazard and risk management, where we will explore CoreLogic’s wildfire risk models and their...
Typhoon Koinu Strengthens as It Heads Toward Hong Kong
Oct 6 2023 // Typhoon Koinu strengthened as the storm headed across the South China Sea toward Hong Kong, contrary to earlier expectations by most meteorologists who had predicted it would weaken. At 5 p.m. Hong Kong time, Koinu had...
Hong Kong’s Typhoon-Related Insurance Claims Set to Top Record $500M in 2023
Oct 4 2023 // Hong Kong insurance claims caused by natural disasters may climb to a record and exceed $500 million this year should approaching Typhoon Koinu add to this storm season’s damages, according to Bloomberg...
Typhoon Koinu on Track to Hit Taiwan Before Heading to Hong Kong
Oct 3 2023 // Severe Typhoon Koinu will pass over the southern tip of Taiwan in coming days before heading toward Hong Kong in a weakened state, according to regional observatories. The storm will intensify into a super typhoon with...
Lingering Drought and Wildfires Plague Texas, Threatening Water Supplies and Agriculture
Oct 3 2023 // A lingering drought affecting more than 80% of Texas is causing wildfires, hurting agriculture and drying up water supplies throughout the state. This year’s drought comes less than a year after Texas experienced one...
Many US Cities Vulnerable to Low Water Pressure Amid Wildfire Dangers
Oct 2 2023 // Hours before devastating fires scorched the historic town of Lahaina on Maui, Kyle Ellison labored to save his rental house in Kula, a rural mountain town 24 miles away, from a different blaze. As high winds whipped...
