Latest Earthquake Headlines
All the headlines from our Earthquake Topic Page, ordered by recency.
AXIS Estimates NZ Quake, Aus. Flood Losses at $275 to $315 Million
Mar 22 2011 // AXIS Capital Holdings Limited has issued a bulletin which estimates that the “total net impact of the New Zealand earthquake and loss events in Australia that have occurred to date in the first quarter of 2011 will...
Japan Disaster Shows up Flaws in ‘Just-in-time’ Production
Mar 22 2011 // Just over a week after the massive earthquake hit the sprawling Texas Instruments chip plant here, a gardener is reworking the Japanese garden in an inner courtyard of the office tower attached to the plant. The garden is...
High-Risk Properties Require Higher Level of Care
Mar 21 2011 // High-risk property is a location that is inherently dangerous due to the nature of its operations or that is exposed to powerful forces of nature such as hurricanes, earthquakes, and floods. Insuring against these...
Swiss Re Estimates Japan Earthquake, Tsunami Claims at $1.2 Billion
Mar 21 2011 // Swiss Re has released a preliminary estimate of its claims costs, net of retrocession and before tax, from the earthquake and the tsunami in Japan of $1.2 billion. The reinsurer cautioned that these “estimates are...
Be Prepared
Mar 21 2011 // Insurers and reinsurers may have sufficient funds to absorb losses from Japan’s 9.1 magnitude earthquake, yet the impact of the quake and resulting tsunami and fires are a stark reminder that it’s important to...
AIG Estimates $1 Billion in Q1 Catastrophe Losses, Most from Japan
Mar 20 2011 // American International Group Inc. said it would post an estimated $1 billion in pre-tax catastrophe losses in the first quarter, mostly from exposure to the March 11 earthquake in Japan. AIG said its exposure would be...
Calif. Senators Introduce National Earthquake Legislation
Mar 18 2011 // U.S. Senators Dianne Feinstein and Barbara Boxer, both D-Calif., have introduced legislation to lower the cost of earthquake insurance for Californians and individuals who purchase coverage from a non-profit, state-run...
New York Governor Will Review Safety at Nuclear Plant
Mar 18 2011 // New York Gov. Andrew Cuomo said that he wants to review information from the Nuclear Regulatory Commission about safety of a nuclear plant that lies near a seismic fault line 35 miles north of Manhattan. “Frankly,...
Lloyd’s Chaucer Lowers NZ Quake, Aus. Flood Loss Estimates; Assessing Japan
Mar 18 2011 // Chaucer Holdings PLC, the specialist Lloyd’s insurance group, has announced that it has reduced its best estimate for claims arising from the 2010 New Zealand earthquake and Australian floods. Chaucer previously...
Endurance Estimates $15 Million Aus. Flood Loss; $45 Million NZ Quake
Mar 18 2011 // Bermuda-based Endurance Specialty Holdings Ltd. announced that its “initial loss estimate related to the floods which occurred in Queensland, Australia in January of 2011 is $15 million.” The specialty...
EU Regulator: ‘No Major Threat’ to Europe’s Insurers from Japan Crisis
Mar 17 2011 // European insurers face no major threat from the turmoil ensuing from last week’s earthquake and tsunami in Japan, the European Union’s insurance watchdog said on Thursday. “From a European viewpoint, the...
Global Fears Mount as Japan Takes Desperate Measures to Cool Reactors
Mar 17 2011 // Operators of a quake-crippled nuclear plant in Japan dumped water on overheating reactors on Thursday while the United States expressed growing alarm about leaking radiation and urged its citizens to stay well clear of the...
EQECAT Updates Japan Quake/Tsunami Analysis; Insured Losses $12-$25 Billion
Mar 17 2011 // Insured losses from the magnitude 9.0 earthquake and tsunami that struck Japan last Friday are between $12 billion and $25 billion, according to catastrophe modeler EQECAT. In its latest update, the firm describes the...
RenRe Estimates Australia Flood Losses $30 Mn; NZ Quake $190 Mn
Mar 17 2011 // Bermuda-based RenaissanceRe Holdings Ltd. announced its initial loss estimates for the 2011 Australian flooding as well as the February 2011 New Zealand earthquake. The Company said it currently expects the Australian...
Arkansas Earthquakes Decline After Injection Well Closures
Mar 16 2011 // The number and strength of earthquakes in central Arkansas have noticeably dropped since the shutdown of two injection wells in the area, although a state researcher says it’s too early to draw any...
Best Comments on Rating Impact of Japanese Earthquake/Tsunami
Mar 16 2011 // A.M. Best Co. has issued a bulletin indicating that it does not “expect an immediate rating impact on Japanese non-life insurers and reinsurers due to the March 11, 2011 earthquake in Japan. However, the...
Debate Begins: Will Japan Disaster Raise Insurance Rates?
Mar 16 2011 // Losses from the Japanese earthquake will reduce insurers’ capital reserves, insurance brokers said Tuesday, as sector shares continued their sharp declines on fears the disaster’s size could grow. Ace, a...
Japan Scrambles to Pull Nuclear Plant Back from Brink of Disaster
Mar 16 2011 // Japan’s nuclear crisis appeared to be spinning out of control on Wednesday after workers withdrew briefly from a stricken power plant because of surging radiation levels, but desperate efforts to avert a catastrophic...
Fitch Ratings: Japan Quake/Tsunami Losses ‘Appear Manageable’
Mar 15 2011 // Fitch Ratings has issued a bulletin, indicating that it “believes that while the 11 March earthquake in Japan will be among the largest insured losses in history, such losses can be absorbed by the insurance and...
Swiss Re Reaffirms Commitment to Japanese Market
Mar 15 2011 // Swiss Re issued a statement which stressed that it is “committed to the Japanese insurance market and to supporting the country’s recovery from the devastating earthquake and tsunami which claimed many lives...
