Latest Catastrophe Headlines
All the headlines from our Catastrophe Topic Page, ordered by recency.
2021 Natural Catastrophe Losses From Major Events Reached $56.92B – Here’s Why
Mar 4 2022 // This post is part of a series sponsored by CoreLogic. When a natural catastrophe hits a community, there can be significant long-term impacts. When a large portion of the local population leaves the area during the rebuild...
$12.8M in Funding Authorized for Arizona Wildfire Recovery
Mar 4 2022 // The U.S. Department of Agriculture has agreed to provide $12.8 million in emergency funding to help parts of Arizona recover from three major wildfires in recent years, two members of the state’s congressional...
Colorado Wildfire Victims Hitting ‘Green’ Building Code Hurdle
Mar 3 2022 // Some homeowners recovering from Colorado’s most destructive wildfire in history, which decimated entire neighborhoods near Denver late last year, say they could end up paying tens of thousands of dollars more to...
Insured Losses From February’s Windstorms in Europe Could Reach €4.5 Billion: RMS
Mar 2 2022 // Insured losses from February’s windstorms Dudley and Eunice will likely fall between 3.0 and 4.5 billion Euro (US$3.4 and US$5.1 billion), with Germany accounting for around 40% of the total loss, according to risk...
California Commissioner Wants to Require Insurers to Factor Wildfire Safety Steps into Pricing
Feb 25 2022 // California Insurance Commissioner Ricardo Lara announced new regulations he believes will improve wildfire safety and drive down the cost of insurance for homeowners and businesses. The proposed regulations, which could be...
Insured Losses for 2 Recent European Windstorms Estimated at €3B-€5B: Verisk
Feb 25 2022 // Insured losses due to wind from Winter Storms Dudley/Ylenia and Eunice/Zeynep will range between €3 billion and €5 billion (US$2.2 billion-$5.6 billion), the majority of which are expected in Germany, UK, and the...
Extreme Wildfires Expected to Increase 30% by 2050
Feb 24 2022 // Indonesia’s peatlands, California’s forests, and, now, vast swathes of Argentine wetland have all been ravaged by extreme wildfires, heralding a fiery future and the dire need to prevent it. With climate change...
California Wildfire at 20% Containment, Evacuation Orders Lifted
Feb 18 2022 // A wildfire near Bishop, California, is only 20% contained, however evacuation orders have been lifted. The Airport Fire, which started on Wednesday, has burned 4,136 acres. At one point it had threatened 150 structures,...
Climate Change Could Push Flood Losses in U.S. to $40B by 2050
Feb 17 2022 // Climate change could result in the financial toll of flooding rising by more than a quarter in the U.S. by 2050, according to new research. The research, led by the University of Bristol and published in Nature Climate...
Parts of Mississippi Valley, Mid-South Under Tornado Watch
Feb 17 2022 // A tornado watch is in effect for parts of Arkansas, Louisiana, Mississippi and Tennessee until 6:00 p.m. CST, Thursday Feb. 16, according to the National Weather Service. The NWS said to expect “Severe thunderstorms...
UK Braces for ‘Storm Eunice’ and Hurricane-Strength Gusts on Friday
Feb 17 2022 // Britain’s Met Office issued a rare red weather warning for parts of the UK, saying hurricane-strength gusts of 90 miles (145 kilometers) an hour are set to hit the country on Friday. The weather service said the most...
AIG Returns to Profit on Improved P/C Insurance Underwriting, Lower Catastrophes
Feb 17 2022 // Global insurer American International Group (AIG) reported strong fourth quarter and year-end results led by the performance of its General Insurance business. After reporting a net loss of $60 million in the fourth...
Storms With Hurricane Gusts Set to Batter NW Europe, Driving Wind Power Generation
Feb 16 2022 // Storms across northwest Europe are set to drive electricity generation from wind farms to records this week in gusty conditions that threaten to disrupt transportation and down power lines. Weather forecasters in the UK,...
Relatively Weak Hurricane Elsa Caused $1B in Damage Last Year
Feb 15 2022 // Hurricane Elsa, which made landfall on July 7, 2021, with winds of 86 mph, caused about $1 billion in damage to the southern United States and multiple Caribbean countries, the National Hurricane Center reported. New data...
Oregon Getting $262M in Wildfire Recovery Funding
Feb 15 2022 // The U.S. Forest Service in Oregon will receive more than $262 million in federal disaster funding to help with wildfire recovery. Oregon Public Broadcasting reported the money is part of a $1.1 billion disaster assistance...
California Commissioner, Emergency Agencies Issue ‘Safer From Wildfires’ Framework
Feb 14 2022 // California Insurance Commissioner Ricardo Lara and emergency management leaders in Gov. Gavin Newsom’s Administration on Monday announced “Safer from Wildfires,” an insurance framework that incorporates...
Actuary Paper: Active Wildfire Seasons Providing Lessons on Fire Risk
Feb 14 2022 // Destructive and costly wildfires in the western U.S. over the past several years are driving efforts to better understand wildfire risk, ways to more effectively prevent and mitigate wildfires, and approaches to insuring...
People Moves: Great American P&C Promotes Cohen, Kadnar; Markel Adds Hiscox’s Wakeham as U.S. Terrorism Underwriter
Feb 11 2022 // Great American Insurance Group has promoted Jason M. Cohen to senior vice president and Julie F. Kadnar to divisional group president within its Property & Casualty Group. In 2006, Cohen joined the company as...
People Moves: Liberty Specialty Mkts Names Beattie Head of War & Terrorism; New Dawn Risk Hires Aon’s Khan for Professional Risks, Lothbury’s Vernon for Healthcare/Life Sciences
Feb 10 2022 // This edition of International People Moves details appointments at Liberty Specialty Markets and broker New Dawn Risk. A summary of these new hires follows here. Liberty Specialty Markets Names Beattie as Global Head of...
Earthquakes in Texas Doubled in 2021. Scientists Cite Years of Oil Companies Injecting Sludgy Water Underground.
Feb 9 2022 // MIDLAND — One local said it sounded like a pickup truck had rammed into the side of their house. Another said it sounded like the air conditioner fell off the roof. A third compared the experience to getting off of a...
