All the headlines from our Catastrophe Topic Page, ordered by recency.
Oct 30 2023 // Hurricane Otis is expected to be one of the costliest natural catastrophe events in Mexico’s history with initial economic losses expected to top US$10 billion, according to Gallagher Re.Further, insured losses are...
Oct 27 2023 // Sentry Insurance in Wisconsin announced additional donations of $350,000 to bolster the ongoing Maui wildfire recovery efforts.The contribution brings the company’s total giving to Maui non-profits for direct...
Oct 26 2023 // Hurricane Otis left a trail of destruction in Acapulco after tearing into the historic Mexican beach town with wind speeds of 165 miles (266 kilometers) per hour, smashing shops and wrecking apartment buildings and...
Oct 26 2023 // The Federal Emergency Management Agency has raised the federal cost share for funding assistance, potentially making millions more dollars available to Florida authorities for Hurricane Ian recovery efforts in Florida, the...
Oct 25 2023 // Hurricane Otis made landfall near the tourist hotspot of Acapulco on Mexico’s Pacific Coast as a deadly Category 5 hurricane with winds capable of collapsing homes, ripping apart power lines and tossing trees.The...
Oct 25 2023 // The market for catastrophe bonds is one of this year’s best-performing debt classes. It’s also about to see a significant increase in sales as the World Bank, a major issuer, prepares to ratchet up its...
Oct 25 2023 // Relatives of three people who died last year in a flash flood stemming from the largest wildfire in New Mexico’s recorded history are suing the U.S. Forest Service.The wrongful death lawsuit filed earlier this month...
Oct 23 2023 // With warmer oceans serving as fuel, Atlantic hurricanes are now more than twice as likely as before to rapidly intensify from wimpy minor hurricanes to powerful and catastrophic, a study said Thursday.Last month Hurricane...
Oct 23 2023 // “Climate-exacerbated wildfires” cost the nation $394 billion to $893 billion each year in economic costs and damages, according to a Congressional report out this week.The range combines estimates from existing...
Oct 23 2023 // Hurricane Norma came ashore near the Pacific resort of Los Cabos at the southern tip of Mexico’s Baja California Peninsula on Saturday afternoon. Hours later, Hurricane Tammy made landfall on the Caribbean island of...
Oct 20 2023 // A magnitude 4.2 earthquake shook part of Northern California between the state capital and the San Francisco Bay region on Wednesday, setting off automated quake alerts, the U.S. Geological Survey confirmed.The 9:29 a.m....
Oct 19 2023 // Allstate Corp. today reported September catastrophe losses of $317 million and total catastrophe losses for the third quarter of about $1.2 billion pretax.Seventeen events in September resulted in catastrophe losses of...
Oct 19 2023 // Ahead of its third quarter earnings announcement early next month, The Hanover Insurance Group released a preliminary estimate of catastrophe losses of nearly $196 million primarily from multiple convective storms in the...
Oct 19 2023 // Pacific Gas & Electric – one of the nation’s largest utilities whose equipment has sparked some of California`s deadliest wildfires – wants to bury power lines in some of its most at-risk areas to prevent...
Oct 18 2023 // Third quarter net income at Travelers Cos. fell 11% compared to the prior-year quarter to $404 million on higher catastrophe losses and unfavorable reserve development.As one of the first insurers to report quarterly...
Oct 17 2023 // “Yesterday was my son’s 12th birthday but he didn’t spend it unwrapping presents or gorging on ice cream and cake. Most of our evening was spent solemnly observing unspeakable horror and devastation as...
Oct 16 2023 // The forecast for Florida citrus, the state’s signature crop, is expected to improve in the upcoming season compared to last year when twin hurricanes battered the state at the start of the citrus season, according to...
Oct 16 2023 // As bond markets everywhere get battered by a cocktail of higher interest rates, deficit angst and hawkish central bankers, one class of debt instrument is handing creditors double-digit returns: catastrophe bonds.Investors...
Oct 16 2023 // A growing number of Americans are finding it difficult to afford insurance on their homes, a problem only expected to worsen because insurers and lawmakers have underestimated the impact of climate change, a new report...
Oct 16 2023 // A federal judge rejected a request by McClenny Moseley & Associates to claim an interest in legal fees and expenses from a hurricane damage lawsuit, saying the law firm obtained its clients illegally by using a...