All the headlines from our Catastrophe Topic Page, ordered by recency.
Feb 6 2020 // For most of the 20th century, the insurance industry considered wildfires to be little more than a benign nuisance. They occurred frequently but rarely resulted in more than a handful of claims, and underwriters priced for...
Feb 5 2020 // Floridians currently pay the highest homeowner’s insurance rates in the nation, and no one should be surprised by this. Florida is a long relatively narrow large peninsula jutting out into bodies of warm water prone...
Feb 4 2020 // The salvage team in charge of removing a cargo ship that overturned on the Georgia coast nearly five months ago wants to surround it with a giant mesh screen to contain any loose debris as the vessel gets cut into pieces.A...
Feb 4 2020 // The Kansas Corporation Commission has approved opening general investigation dockets to allow the public access to information gathered during investigations into seismic activity in Reno and Rooks counties.The dockets...
Feb 4 2020 // This post is part of a series sponsored by CoreLogic.Preparing for a catastrophe is a science. This science involves models built from data and analytics that can capture the worst-case scenario for businesses and...
Feb 4 2020 // Chubb has launched an insurance coverage aimed at bridging gaps in traditional terrorism business interruption policies.Chubb’s Non Damage Terrorism Solutions is a single policy offering non damage business...
Jan 31 2020 // W.R. Berkley Corp. reported that its gross premiums written grew by more than 10 percent in the 2019 fourth quarter, thanks in part to accelerated rate increases.But net income dipped compared to the same period a year...
Jan 31 2020 // A Florida woman has pleaded guilty to lying about damage caused by Hurricane Irma.Deannajo White, 39, pleaded guilty in Jacksonville federal court Friday to one count of disaster assistance fraud, according to court...
Jan 28 2020 // A powerful magnitude 7.7 earthquake struck in the sea in the western Caribbean on Tuesday, sending workers into the streets and triggering evacuations as buildings shook across the Cayman Islands, in Jamaica, and in...
Jan 28 2020 // A tornado caused some minor damage to homes in Manzanita, Ore., on Tuesday morning, the National Weather Service confirmed. The Oregonian/OregonLive reported that Tillamook County Emergency Manager Gordon McCraw said the...
Jan 27 2020 // A Florida man has been accused of lying about damage caused by Hurricane Irma, federal prosecutors announced this week.An indictment was returned charging Deontre Javan Taylor, 26, of Jacksonville, with disaster assistance...
Jan 27 2020 // A small earthquake rattled the Southern California desert on Friday, but there were no immediate reports of damage or injuries, the U.S. Geological Survey has confirmed. A temblor with a preliminary magnitude of 4.6 struck...
Jan 27 2020 // Texas state Rep. J.M. Lozano has been appointed to the Texas Windstorm Insurance Association (TWIA) Legislative Oversight Board, a group of four State Representatives and four State Senators that will closely monitor TWIA...
Jan 27 2020 // Although parametric solutions have been generally available since the late 1990s, they have more recently found their way into corporate insurance. Parametric insurance solutions offer a means to guarantee direct payout...
Jan 27 2020 // The new year brought some changes to residential and commercial policies provided by Texas’ insurer of last resort for wind and hail along the coast.New coverages, terms and conditions now apply to Texas Windstorm...
Jan 27 2020 // The National Weather Service reports there were seven confirmed tornadoes in Arizona’s Maricopa and Pinal counties last year, the most in nearly five decades.Meteorologists say last year’s total is second only...
Jan 24 2020 // The Insurance Council of Australia (ICA) has declared a catastrophe for damage caused by hailstorms that struck eastern Melbourne, the Australian Capital Territory and parts of New South Wales on Sunday and Monday (Jan....
Jan 23 2020 // Insured losses from major natural catastrophes in 2019 totaled roughly $53.0 billion, about 18% lower than the annual average since 2011, according to a report from Willis Re.This figure compares with Aon’s recently...
Jan 23 2020 // Strong quarterly and full year 2019 results for Travelers Cos. were helped by lower catastrophe losses and premium hikes.Net income rose to $873 million in the fourth quarter ended Dec. 31 from $621 million for the same...
Jan 23 2020 // The credit ratings of homeowners insurer Florida Family Insurance Co. and its subsidiary, Florida Family Home Insurance Co., have been downgraded by AM Best due to a deterioration in underwriting results for the insurer....