All the headlines from our Catastrophe Topic Page, ordered by recency.
Feb 18 2019 // Some 1,000 lawsuits have been filed since late 2017 demanding Pacific Gas & Electric Corporation pay for damages caused by wildfires. The lawsuits represent thousands of people, companies, cities and counties affected...
Feb 18 2019 // Between 2008 and 2017 rhere was a significant drop in the number of homes in Missouri insured for damage from earthquake, state insurance regulators report. That’s despite the fact that earthquakes present a...
Feb 18 2019 // Growth of the insurance linked securities (ILS) market reached $93 billion in 2018, up from $88 billion during the prior year, according to the new ILS Market Update from Willis Re, the reinsurance division of Willis...
Feb 18 2019 // A University of Missouri researcher is teaming up with scholars in Kansas and Georgia to develop drone technology to monitor and potentially predict the spread of wildfires. The $1.2 million project will use drones to...
Feb 14 2019 // California’s insurance commissioner and a lawmaker want to the state to consider buying insurance in the private market to cover rapidly increasing costs of fighting wildfires due to climate change.State Sen. Bill...
Feb 13 2019 // American International Group Inc. on Wednesday reported a quarterly loss as the insurer was hit with catastrophe losses and made a lower return on investments in a volatile market.Excluding realized investment gains and...
Feb 13 2019 // UK’s Pool Re now is able to cover losses incurred if a business cannot trade or is prevented from accessing its premises in the wake of a terrorist attack.Before a change in the law, Pool Re, a public-private...
Feb 13 2019 // The Georgia House has approved a midyear budget adjustment that increases funding for school safety and farmers hit by the devastation of Hurricane Michael in October.Republican Rep. Terry England, chairman of the House...
Feb 12 2019 // About 3,000 people who fled as a wildfire threatened a New Zealand town were allowed to return home Monday [Feb. 11] as firefighting conditions improved.Another 400 residents living in valleys near the fire aren’t...
Feb 11 2019 // Catastrophe claims and a disappointing investment performance drove commercial lines insurer CNA Financial Corp. to an $84 million loss in the fourth quarter of 2018.The quarter’s $84 million net loss compare to $223...
Feb 11 2019 // The warning couldn’t have been clearer.As PG&E Corp. plunged into bankruptcy last month, S&P Global Ratings slashed credit grades almost to junk status for California’s two other big electric utilities,...
Feb 8 2019 // The Allstate Corp. lost $312 million in its 2018 fourth quarter, which was attributable to higher catastrophe losses, lower investment income and a pension settlement charge.Catastrophe losses hit $963 million, versus just...
Feb 8 2019 // The nation’s largest utility is promising to overhaul its wildfire-prevention measures in response to growing legal, financial and public pressure over its role in starting some of the most destructive blazes in...
Feb 7 2019 // Despite the fact that earthquakes present a significant hazard to Missourians, the number of homes insured against damage from earthquakes declined between 2008 and 2017, according to a Residential Earthquake Coverage...
Feb 7 2019 // Boeing Co. was accused of negligence tied to a wildfire that tore through Malibu, California, in November and that purportedly started on the grounds of the nearby, disused Rocketdyne testing site.A group of homeowners...
Feb 7 2019 // Anyone who gets power from PG&E Corp. could see their lights go out this fire season.Even the millions of Californians who live outside risky areas could be left in the dark under a sweeping proposal the utility filed...
Feb 6 2019 // In 2018 fourth quarter, global insurer Chubb saw a surge in catastrophe losses, along with growth in premium revenue, better global property/casualty pricing and record net investment income.The insurer booked $355 million...
Feb 6 2019 // This post is part of a series sponsored by CoreLogic.When it comes to natural disasters, 2018 was an eventful year worldwide. Typhoons devastated the Philippines, Hong Kong, Japan and Oman. Earthquakes caused mass...
Feb 5 2019 // Some 1,000 lawsuits have been filed since late 2017 demanding Pacific Gas & Electric Corporation pay for damages caused by wildfires. The lawsuits represent thousands of people, companies, cities and counties affected...
Feb 4 2019 // Big corporations forced into bankruptcy by liability lawsuits often take the offending product off the market and try to move on. That’s what happened with the Dalkon Shield birth control device, asbestos and...