Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Aon Buys Mexico’s ERN, Expanding Its LatAm Catastrophe Modeling Capabilities
Nov 14 2022 // Aon plc, the global professional services firm, expands its catastrophe modeling and consultancy capabilities in Latin America with the acquisition of ERN (Evaluación de Riesgos Naturales), a Mexico-based leader in risk...
Moody’s: California Utilities Reduced Liability Following Catastrophic Wildfires
Nov 10 2022 // A new report shows California utilities have noticeably reduced their liability following catastrophic wildfires in the past that have been blamed on the utilities and have driven several massive lawsuits and financial...
Tropical Storm Nicole Weakened Over Florida But Emergency Orders Remained in Effect
Nov 10 2022 // Tropical Storm Nicole was over west central Florida to the northeast of Tampa at 10 a.m., having weakened from being a Category 1 hurricane when it made landfall earlier in the morning on the coast. Nicole’s maximum...
Zurich Insurance Expects $550M Hit From Hurricane Ian, but On Track to Beat Targets
Nov 10 2022 // Zurich Insurance Group expects a net $550 million pre-tax hit from Hurricane Ian, Europe’s fifth-largest insurer said on Thursday, though it remains on track to beat its 2020-2022 financial targets, helped by premium...
Rare but Not Unprecedented: Nicole Threatens Florida as a November Hurricane
Nov 9 2022 // With just over three weeks to go until the official end of the 2022 North Atlantic Hurricane season, Subtropical Storm Nicole – the fourteenth named storm of the year, could be a rarely seen event – a hurricane in...
Hurricane Ida Paid Claims in Louisiana Grows to $13.9B
Nov 8 2022 // Insurers have paid or reserved to pay $13.9 billion on all types of Hurricane Ida-related claims in Louisiana through September 30, Insurance Commissioner Jim Donelon announced today. This data is the final measure of...
With Another Fla. Hurricane Coming, Signs Pointing to Bigger Spike in Reinsurance Rates
Nov 8 2022 // One of the largest providers of reinsurance for Florida carriers is predicting major increases in rates next year, a move that could add fuel to the fire for a reform package at the upcoming special session of the Florida...
Berkshire: Negative Q3 Insurance Results Due to Catastrophe, Auto Losses
Nov 7 2022 // Berkshire Hathaway’s insurance business recorded an after-tax underwriting loss of $962 million (a pre-tax loss of $1.15 billion) in the third quarter, a decrease of $178 million from 2021, as catastrophe losses and...
Ruling Exposes Gov’t to $1.6B In Damages Because of Hurricane Harvey Flooding
Nov 7 2022 // A federal court in late October found the US government liable for $455,000 in damages to six claimants whose homes were flooded by water backed up behind two dams near Houston during Hurricane Harvey — but that’s...
Deadly Tornadoes Hit Texas and Oklahoma, Flatten Buildings
Nov 7 2022 // Residents in southeastern Oklahoma and northeastern Texas began assessing weather damage Saturday, working to recover and thankful to have survived after a storm stretching from Dallas to northwest Arkansas spawned...
Commissioner Says 2021 Colorado Wildfire Losses Surpass $2B
Nov 7 2022 // A wildfire that destroyed nearly 1,100 homes and businesses in suburban Denver last winter caused more than $2 billion in losses, making it by far the costliest in Colorado history, the state insurance commissioner...
Rural New Mexico Eyes Insurance Fight Amid Wildfires
Nov 7 2022 // Manuel and Marcy Silva combed through the charred rubble that used to be their home, searching for any salvageable bits in the wake of the largest wildfire in New Mexico history. Manuel found two of his high school...
Judge Threatens to Sanction Firm for Baseless La. Hurricane Suits
Nov 7 2022 // A federal judge in Louisiana is threatening to fine a Houston-based law firm $200 for each duplicate or baseless lawsuit he finds among the 1,642 that the firm has filed against insurers for alleged hurricane damages. US...
Hurricane Ian Wrecked Man-Made Reefs, Brings Algae Bloom to Florida
Nov 4 2022 // Hurricane Ian not only ravaged southwest Florida on land but was destructive underwater as well. It destroyed man-made reefs and brought along red tide, the harmful algae blooms that kill fish and birds, according to...
Lisa Weakens to Tropical Storm After Leaving Belize’s Largest City in Darkness
Nov 3 2022 // Lisa weakened into a tropical storm as it moved across Belize Wednesday, leaving much of the country’s largest city in the dark, although there were no reports of deaths or major damage so far in the Caribbean nation...
Viewpoint: Wildfires Should be California’s No. 1 Priority When it Comes to Climate Change
Nov 3 2022 // In an Executive Order dated September 25, California Gov. Gavin Newsom directed all agencies of state government to double down on their efforts to address climate change. The governor, state agencies and the Legislature...
NFIP: 43,000 Flood Claims and $273 Million Paid So Far After Hurricane Ian
Nov 2 2022 // The Federal Emergency Management Agency is reminding flood insurance policyholders hit by Hurricane Ian that they have an extra three months to renew their expiring policies. The agency said last week that Florida property...
Cleanup After Five Tornadoes Touched Down in South Alabama, Mississippi
Nov 1 2022 // Residents and businesses are cleaning up after at least five tornadoes touched down in a severe weather outbreak along the Mississippi and Alabama Gulf Coast. No injuries or deaths were reported after the Saturday...
Initial Insured Loss for Typhoon Nanmadol Estimated ¥114B (US$768M)
Nov 1 2022 // Initial insurance industry losses from Typhoon No. 14, aka Nanmadol, which hit Japan in September 2022, are an estimated 114 billion Japanese yen (US$768 million), according to PERILS, the independent Zurich-based...
Tropical Storm Lisa on Track to Strike Belize as 12th Atlantic Storm of 2022
Nov 1 2022 // Tropical Storm Lisa has spun up in the Caribbean Sea south of Jamaica, on track to strike Belize late Wednesday as the 12th storm of this year’s Atlantic hurricane season. Lisa’s top winds have reached 40 miles...
