Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
Reinsurance Prices Flat Except in Catastrophe Regions: Aon
Jul 7 2011 // First quarter catastrophes didn’t halt decreases in most U.S. reinsurance renewal programs, except in regions hard hit by significant catastrophe events, according to a report by a leading reinsurance intermediary....
North Carolina Wildfire Spreads; Homeowners Evacuate
Jul 6 2011 // Ten homes have been evacuated and three destroyed by a wildfire in Bladen County that has nearly doubled in size over the past three days, fire officials said Tuesday. State Forest Service spokesman Chris Meggs said a...
Pres. Obama Signs Disaster Declaration for Texas Wildfires
Jul 5 2011 // President Barack Obama has signed a major disaster declaration for parts of Texas ravaged by wildfires in April and early May, ordering federal aid to help state and local recovery efforts. The White House had previously...
Insurers Could Pay $2B for Joplin Tornado
Jul 5 2011 // Insurance companies already have paid out more than $500 million in claims for the May 22 tornado that struck Joplin, Mo. But the final total could grow to three or four times that amount. The state insurance department...
Catastrophes Issue Wake-Up Call on Supply Chain Risks
Jul 4 2011 // The Japanese earthquake and tsunami that occurred in March served as a wake-up call for businesses vulnerable to supply chain exposures. Subsequent intense weather events in the U.S. during April and May have underscored...
Alabama Governor Vows Tornado, Home Insurance Help
Jul 4 2011 // Alabama Gov. Robert Bentley said he’s not looking to the Federal Emergency Management Agency or anyone else to lead the state’s recovery. “Just like I have taken the leadership role in the disaster,...
P/C Insurers’ Profits Fell in Q1 as Underwriting Losses Grew
Jul 4 2011 // Private U.S. property/casualty insurers’ net income after taxes dropped to $7.8 billion in first-quarter 2011 from $8.9 billion in first-quarter 2010, with insurers’ annualized rate of return on average...
Californians’ Biggest Disaster Fear: Earthquakes
Jul 4 2011 // Of the many possible natural disasters that could befall Californians, Golden State residents fear earthquakes the most, according to a recent poll. Statewide, 57 percent of voters cite earthquakes as their greatest threat...
Florida Officials Fret Over Home Insurance Assessments
Jul 4 2011 // Two weeks into a new hurricane season, Florida officials are continuing to express their concerns over possible policyholder assessments by Citizens Property Insurance despite the relative financial strength of the...
Massachusetts Tornado Claims Surpass $140 Million
Jul 4 2011 // The financial toll from tornadoes that ravaged several Massachusetts communities has risen dramatically. The state’s Division of Insurance estimated that residents have filed 8,200 insurance claims totaling $140...
Report: SoCal Quake Would Rattle Economy
Jul 4 2011 // A new study says a big Southern California earthquake would rattle the region’s economy and its buildings. The U.S. Bureau of Labor Statistics said a magnitude-7.8 quake in the southern segment of the San Andreas...
Totals: U.S. Spring Tornado Losses for P/C Carriers
Jul 1 2011 // Record-breaking tornadoes devastated parts of the United States in April and May, generating substantial losses for insurance companies. Following is a list of maximum losses reported by some insurers and reinsurers for...
Analysis: Reinsurers at Risk If Hurricane Season Is Big
Jul 1 2011 // A major hurricane landfall in Florida could strain leading global reinsurers that have already been buffeted by brutal tornadoes in the United States and earthquakes in Japan and New Zealand. The biggest reinsurers,...
Many South Texas Windstorm Inspections Turn Out to Be Bogus
Jun 30 2011 // Owners of more than 400 homes and businesses in South Texas will be notified that their windstorm insurance reviews were done by a bogus inspector. The Texas Windstorm Insurance Association says coverage for the Corpus...
TS Arlene Lashes Central Mexico with Heavy Rains
Jun 30 2011 // Large swathes of central Mexico were hit by torrential rains as Arlene, the first tropical storm of the Atlantic hurricane season, touched down near coastal sand barrier Cabo Rojo Thursday. Mexican officials advised...
Willis Re Sees Reinsurers Reacting as $48 Billion Losses Take Their Toll
Jun 30 2011 // The Willis Re’s 1st View Renewals Report for June/July 2011, entitled – “Mixed Messages“- estimates that “a string of natural catastrophes in the first quarter of 2011 has cost reinsurers in...
Wildfire Still Threatens Los Alamos Nuclear Facility
Jun 30 2011 // Wildfire is threatening Los Alamos National Laboratory in northern New Mexico, and has burned more than 10,000 acres, local officials report. Although an increase in humidity early Tuesday was a short-term benefit, rounds...
$400M Impact Seen From East Texas Wildfires
Jun 30 2011 // Wildfires that devastated East and Southeast Texas last week not only destroyed homes but also millions of cubic feet of forest timber, authorities said. According to the Texas Forest Service, a fire in Grimes County that...
North Carolina Wildfire Threatens Homes
Jun 30 2011 // North Carolina officials said a wildfire in Pender County has grown to nearly 30,000 acres and poses a danger to more than 2,000 homes. On Wednesday forecasters said they expected wind shifts to push smoke from the fire...
Mass. Now Estimates Tornado Claims at $175 Million
Jun 30 2011 // Massachusetts insurance officials have updated estimates on insurance claims resulting from this month’s Western and Central Massachusetts tornadoes, with 9,500 claims totaling an estimated $175 million having been...
