Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Verisk: Up to $57B Insured Losses from Hurricane Ian
Oct 3 2022 // Insured losses from Hurricane Ian to onshore property will be between $42 billion and $57 billion, with much of the damage – $38-51 billion – coming from wind damage, according to Verisk. “Damage was more severe...
Captain America Actor Helps Fix Hurricane-Hit Roofs
Oct 3 2022 // Actor Anthony Mackie was not carrying his Captain America shield when he returned to his hometown of New Orleans to help repair hurricane-damaged roofs. But for people in his old neighborhood, knowing their tarp-covered...
KCC Estimates Near $63B in Hurricane Ian Insured Losses
Oct 2 2022 // Catastrophe modeler Karen Clark & Company (KCC) late Friday said the firm estimates insured losses from Hurricane Ian will near $63 billion. Should KCC’s calculations hold true, Ian will surely be remembered as...
Insurer Off the Hook in Defending Western Union Against Terrorist Financing Suit
Sep 30 2022 // An insurer’s war and financial services exclusions relieve it of having to provide coverage for an insured being sued for allegedly aiding international terrorists responsible for the crash of Malaysia Airlines...
Hurricane Ian Losses Up to $47B in Florida, Sinking More Insurers, CoreLogic Calculates
Sep 30 2022 // Wind and storm-surge losses from Hurricane Ian could reach as $47 billion in Florida alone, a figure made larger by inflation and rising interest rates, the property analytics firm CoreLogic said in a new...
Florida Hospital Gets Hit from Above and Below in Hurricane
Sep 30 2022 // Hurricane Ian swamped a Florida hospital from both above and below, the storm surge flooding its lower level emergency room while fierce winds tore part of its fourth floor roof from its intensive care unit, according to a...
Hurricane Ian Threatens Heavy Losses for Catastrophe Bond Holders
Sep 30 2022 // Investors who backstop Florida’s insurance industry by buying catastrophe bonds are girding for substantial losses from Hurricane Ian, threatening to crimp a key source of capital for the sector and push up insurance...
Strong Category 4 Hurricane Ian Poised to Become One of the Costliest
Sep 28 2022 // With maximum sustained winds of 150 mph at just after 3 p.m. on Sept. 28, Hurricane Ian was just shy of Category 5 status when it made landfall in Cayo Costa, Fla. Ian, one of the strongest hurricanes to ever make U.S....
Hurricane Ian Spurs Evacuations as Airports, Schools Shut
Sep 28 2022 // Hurricane Ian, projected to be one of the costliest storms in US history, prompted mass evacuations, school shutdowns and thousands of flight cancellations across the third-largest state. The storm, which has already...
Typhoon Noru Makes Landall in Vietnam, Causing Floods, Property Damage
Sep 28 2022 // Typhoon Noru made landfall in Vietnam early Wednesday morning, knocking out power for more than 500,000 households and causing flooding and property damage along the country’s central region. Noru’s eye struck...
UPDATE: Hurricane Ian Turning Toward Tampa Area and $258B in Replacement Value
Sep 27 2022 // Florida property insurance experts have long warned that a powerful hurricane strike on a major metropolitan area could result in catastrophic losses and the insolvency of more carriers. Those warnings could become reality...
BP, Chevron Cut Offshore Oil Production Ahead of Hurricane Ian
Sep 27 2022 // BP Plc and Chevron Corp. on Monday said they have shut-in production at offshore oil platforms in the Gulf of Mexico, as a powerful Hurricane Ian bore down on the top U.S. offshore production region. The category 2 storm...
US Starts Criminal Probe Into PG&E Role in California Wildfire
Sep 27 2022 // Federal officials have initiated a criminal investigation into PG&E Corp.’s potential role in starting California’s largest wildfire of the year. On Sept. 24, the US Forest Service removed one of the...
Typhoon Noru Batters Philippines, Killing 5 and Leaving Millions Without Power
Sep 26 2022 // Typhoon Noru battered the Philippines’ main Luzon island, killing five rescuers and leaving millions of people without electricity. The fatalities were recovered from a flooded area in Bulacan province north of...
Hurricane Fiona Hits Nova Scotia as One of Region’s Strongest Storms
Sep 26 2022 // Fiona, the most powerful storm of this year’s Atlantic hurricane season, roared ashore in eastern Nova Scotia early Saturday as one of the strongest systems ever to hit the region, knocking out power, toppling trees...
‘Captain America’ Swoops In to Fix Hurricane-Hit Roofs in New Orleans
Sep 23 2022 // Actor Anthony Mackie was not carrying his Captain America shield when he returned to his hometown of New Orleans to help repair hurricane-damaged roofs. But for people in his old neighborhood, knowing their tarp-covered...
Update: Hurricane Fiona Roars Toward Atlantic Canada as New Storm Threatens Florida
Sep 23 2022 // After lashing Bermuda, Hurricane Fiona is racing north toward Eastern Canada, threatening to become the most powerful storm ever to hit the region. A second system, meanwhile, is developing in the Caribbean and may strike...
California Commissioner Orders Another Insurance Cancellation Moratorium for Wildfire
Sep 22 2022 // California Insurance Commissioner Ricardo Lara on Thursday ordered insurance companies to preserve residential insurance coverage following Gov. Gavin Newsom’s latest wildfire emergency declarations. Lara’s...
Louisiana Dept. of Insurance to Hold Hurricane Prep Event
Sep 22 2022 // The Louisiana Department of Insurance (LDI) and Habitat for Humanity will hold a hurricane preparation session at Mandeville Community Center on September 26, 5:30 p.m. The session, Insurance Information on Preparing for...
Hurricane Fiona Losses Depend on Business Interruption, Cause
Sep 22 2022 // AM Best said it expects insured losses from Hurricane Fiona in Puerto Rico to be influenced by business interruption caused by widespread power outages but losses should be manageable for the industry. “It could take...
