Latest Hurricane Headlines
All the headlines from our Hurricane Topic Page, ordered by recency.
Geeslin: It May be 90 Days Before Ike’s True Cost is Known
Oct 6 2008 // Texas’ top insurance regulator told lawmakers on Sept. 24 that the industry estimates there will be around 300,000 property claims — including commercial property claims — stemming from Hurricane Ike, which...
Carvill Offers Options on Individual Named Storms
Oct 6 2008 // Carvill Capital Markets recently listed named storm contracts on the Chicago Mercantile Exchange providing coverage for live hurricanes and for an entire hurricane season. Patrick Gonnelli, president of Carvill Capital...
To Tax or Not to Tax – Battling Coalitions Dispute Bermuda ‘Loophole’
Oct 6 2008 // Claims Managers ‘Don’t Like Ike’ as Losses from the Hurricane Pile Up on Top of Gustav’s Whatever goes around comes around, and in an election year it was almost inevitable that somebody would...
XL Gustav, Ike Losses $195 to $270 Million; Minimal Investment Loss
Oct 3 2008 // Bermuda’s XL Capital Ltd. has announced preliminary net loss estimates for Hurricanes Gustav and Ike, as well as the effect on its investment portfolio from Lehman Brothers, Washington Mutual, Fannie Mae and Freddie...
Adjusters Working Ike Claims from Texas Coast to Arkansas Border
Oct 2 2008 // Thousands of insurance claims adjusters are examining the damage left behind by Hurricane Ike from the Texas coast to the Arkansas border, the Insurance Council of Texas (ICT) reported. Millions of dollars in insurance...
Minnesota New Home for Dogs Displaced by Hurricane Ike
Oct 2 2008 // More than 100 dogs displaced by Hurricane Ike will soon be awaiting new families in Minnesota. The Animal Humane Society received 59 dogs in the Twin Cities on October 1 and expects to get another 60 in the next week or...
Insurers Weigh-in on North Carolina Committee’s Beach Plan Analysis
Oct 1 2008 // A North Carolina joint legislative study committee began hearings on Sept. 30 regarding the financial health of the state’s Insurance Underwriting Association, a.k.a. the Beach Plan. The Joint Select Study Committee...
Ohio Wind Storm Damage Estimates Could Top $500 Million
Sep 29 2008 // Damage caused by the wind storm that ripped across Ohio Sept. 14 could hit $500 million or higher, making it one of the state’s costliest natural disasters. The Ohio Insurance Institute says $500 million is a...
Florida Researchers Deploy New Hurricane Data Weather Balloons
Sep 29 2008 // A fleet of special balloons released over South Florida may soon help hurricane forecasters better predict the path of storms. But at a cost of up to $2,000 each, these aren’t your average birthday party...
Axis Gustav-Ike Losses $310- $430 Million; Details Investment Exposure
Sep 29 2008 // Bermuda-based AXIS Capital Holdings Limited announced that preliminary net loss estimates for Hurricanes Gustav and Ike range from approximately $310 million to $430 million, net of reinstatement premiums. Axis’...
Dozens of Mississippi Cottages Condemned after Gustav
Sep 29 2008 // In Mississippi, Donnell Landtroop’s state-supplied cottage has mold on the walls and dried mud on the floor — the foul remnants of Hurricane Gustav, the second hurricane in three years to leave her family...
Texas Mayor Requesting $2.3B in Aid From Congress
Sep 24 2008 // As repair crews work to make this hurricane-ravaged Galveston, Texas, inhabitable for the thousands of residents set to return this week, the mayor is seeking more than $2 billion in emergency federal aid. The final price...
Reinsurers Tour Fortified Home During Mississippi Wind Pool Meeting
Sep 24 2008 // Nearing the end of a years-long highly specialized residential construction project, one Hurricane Katrina survivor has become a regular stop for insurance industry representatives touring along the Mississippi Gulf...
Hurricane Gustav Damage in Alexandria, La., Tops $25M
Sep 24 2008 // Officials say Hurricane Gustav inflicted more than $25 million worth of damage in Alexandria, La., when it blew through in early September. About half of that amount came from estimated damage caused by roof collapses at...
Texas Issues Data Call to Insurers in Hurricane Ike’s Aftermath
Sep 23 2008 // The Texas Department of Insurance (TDI) is conducting a mandatory data call for certain information related to claims in the counties of Angelina, Austin, Brazoria, Brazos, Chambers, Cherokee, Fort Bend, Galveston, Gregg,...
Declarations
Sep 22 2008 // Do Not Come Back “Galveston has been hit hard. We have no power. We have no gas. We have no communications. We’re not sure when any of that will be up and running. … We want our citizens to stay where...
Damage Costs Mount From Gustav
Sep 22 2008 // As Hurricane Ike loomed in the Gulf of Mexico, insurers and officials in Gulf Coast states were still tallying damage costs from Hurricane Gustav, which swept into Louisiana on Sept. 1. Switzerland-based global reinsurer,...
More to Come in Busy Atlantic Hurricane Season
Sep 22 2008 // The 10 tropical storms and hurricanes that ripped through the Atlantic and Caribbean during this busy hurricane season savaged Haiti, Cuba and the U.S. Gulf coast, and conditions are now ripe for more. Residents of the...
Organizations Opposed to U.S. Insurance Tax Bill Issue Statement
Sep 22 2008 // The Coalition for Competitive Insurance Rates, which groups a number of organizations that oppose to the latest attempt to amend U.S. tax laws on foreign insurers, has issued a bulletin outlining the reasons why they...
Hurricane and Political Seasons Stir Up National Cat Plan Proposals
Sep 22 2008 // As Losses Mount for Insurers, More Proposals for a National Solution Emerge Neither Gustav nor Ike walloped the property/casualty insurance industry the way Katrina did but there is still concern in insurance and...
