All the headlines from our Catastrophe Topic Page, ordered by recency.
Feb 4 2019 // The Insurance Council of Australia (ICA) declared a catastrophe for insurance policyholders who have been affected by torrential rain and flooding in the northeastern Australian state of Queensland.“The Queensland...
Feb 4 2019 // To be the insurer of last resort for wind and hail insurance along the Texas coast — without state support and reliant on premium dollars and debt financing for funding, or to be a true insurance company that derives...
Feb 4 2019 // Cyber incidents join business interruption as the top risks facing global businesses, according to a survey conducted by Allianz Global Corporate & Specialty (AGCS).The impact of business interruption (which includes...
Feb 4 2019 // The overall impact of catastrophe losses on property rates was muted at the Jan. 1, 2019, reinsurance renewals, but the fourth highest annual catastrophe loss year on record did create questions over pricing adequacy,...
Feb 4 2019 // Trend Is Playing Out in Areas Prone to Extreme Winds and Storm SurgeA study of hurricane-hit areas of the United States has revealed a trend of larger homes being built to replace smaller ones in the years following a...
Feb 4 2019 // Establishing a California Wildfire Commission is just one idea an expert is tossing out to help the state deal with worsening fire seasons.James Woods was formerly co-leader of Mayer Brown’s Global Insurance Industry...
Feb 1 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...
Jan 31 2019 // California wildland managers said this week that they want to speed up logging and prescribed burns designed to slow wildfires that have devastated communities in recent years.After the deadliest and most destructive...
Jan 31 2019 // A federal judge who has emerged as a vocal critic of PG&E Corp.’s safety record, said the California utility giant has a “clear-cut pattern” of starting wildfires and needs “strong...
Jan 31 2019 // Initial insured property losses for December’s hailstorms in Sydney are estimated at A$635 million (US$457.5 million), according to PERILS, the independent Zurich-based organization that provides industry-wide...
Jan 31 2019 // It could take a decade or more for Florida’s timber industry to recover from Hurricane Michael’s devastation, and the countless downed trees pose an immediate wildfire threat, Florida Forest Service Director...
Jan 30 2019 // On an unusually warm day in northern California, hot and dry winds whipped through the Sierra Nevada foothills northeast of San Francisco.It was Thursday, Nov. 8, and a “red-flag warning” from the National...
Jan 29 2019 // Establishing a California Wildfire Commission is just one idea an expert is tossing out to help the state deal with worsening fire seasons.James Woods was formerly co-leader of Mayer Brown’s Global Insurance Industry...
Jan 29 2019 // Power provider PG&E Corp. filed for voluntary Chapter 11 bankruptcy protection on Tuesday, succumbing to liabilities stemming from wildfires in Northern California in 2017 and 2018.The owner of the biggest U.S. power...
Jan 28 2019 // California Insurance Commissioner Ricardo Lara on Monday announced that more than $11.4 billion in insured losses have been reported from the November 2018 fires.That is a 25 percent increase, or more than $2.3 billion,...
Jan 28 2019 // California fire investigators last week concluded that a major 2017 wildfire was caused by privately owned electrical equipment, prompting the state’s new governor to estimate that PG&E Corp’s potential...
Jan 28 2019 // The government may be reopening, but the consequences of the longest federal shutdown in U.S. history are likely to linger for national parks, forests, the federal workforce and cutting-edge scientific research. Some may...
Jan 28 2019 // Everest Re Group, Ltd. expects to incur in the fourth quarter 2018 catastrophe losses of $695 million, net of reinsurance, reinstatement premiums and taxes.The catastrophe losses were related to the fourth quarter 2018...
Jan 28 2019 // Authorities say a possible tornado damaged several homes and downed trees and powerlines as a line of storms crossed central Florida. News outlets report winds tore much of the roof off of the parsonage at Tuscanooga...
Jan 28 2019 // Florida will get potentially hundreds of million dollars for Hurricane Michael recovery after President Donald Trump agreed to expand the number of days the federal government will reimburse state and local governments for...