All the headlines from our Catastrophe Topic Page, ordered by recency.
Oct 22 2024 // Almost two weeks after Hurricane Milton made landfall near Sarasota, Florida, as a Category 3 storm, claims and loss totals continue to rise. As of Oct. 21, the Florida Office of Insurance Regulation said carriers had...
Oct 21 2024 // Cuba was dealing with heavy rains and winds today from Tropical Storm Oscar, even as it continues to deal with a prolonged blackout affecting a large swath of the island.According to the U.S. National Hurricane Center,...
Oct 21 2024 // South Africa’s National Treasury is exploring regulations to encourage the use of financial instruments to tackle climate change, including catastrophe bonds and parametric insurance.“We are looking at how best...
Oct 18 2024 // Survivors of last year’s deadly wildfire that decimated a historic Maui town will receive an additional year of housing assistance from the Federal Emergency Management Agency.Housing has been a major challenge in...
Oct 18 2024 // Wuuii is partnering with the Insurance Institute for Business and Home Safety to combine IBHS’ Wildfire Prepared Home program and Wuuii’s Madronus Wildfire Defense network to offer an option for California...
Oct 17 2024 // Allstate Corp. doesn’t announce third quarter earnings until Halloween but today it released some scary September pretax catastrophe losses.In keeping with its initiative to announce monthly catastrophe losses that...
Oct 17 2024 // Publicly traded HCI Group, the Tampa-based holding company for Homeowners Choice Property & Casualty, TypTap and a new condominium insurance reciprocal, is one of the first Florida insurers to report estimated losses...
Oct 16 2024 // Catastrophe modeler Verisk said it expects insured losses from Hurricane Milton will be between $30 billion and $50 billion from damages caused mostly by wind.Verisk’s Extreme Event Solutions group said the range...
Oct 16 2024 // Deductibles serve several purposes. They provide some premium relief for the insured. They make insureds less likely to file smaller claims because either damage falls within the deductible, or is so close to it that the...
Oct 16 2024 // WELLINGTON, Fla. (AP) — Tony Brazzale, a diving boat captain who has lived for 10 years in his Wellington home in southeastern Florida, wasn’t worried about Hurricane Milton. The storm’s center was forecast...
Oct 15 2024 // Nearly two weeks after Hurricane Helene downed power lines and washed out roads all over North Carolina’s mountains, the constant din of a gas-powered generator is getting to be too much for Bobby Renfro.It’s...
Oct 15 2024 // Florida’s Hurricane Milton caused private insured losses of about $36 billion, estimated catastrophe modeler Karen Clark & Co.The estimate includes losses from wind, storms surge, and inland flooding to personal,...
Oct 15 2024 // Southeast Asia could see higher-than-normal rainfall in the coming months, threatening further disruptions to agriculture, tourism, and industrial output in a region already hit by a series of storms this year.Weather...
Oct 10 2024 // After fearing the worst from Hurricane Milton, investors in catastrophe bonds appear to have sustained losses well below those predicted as recently as Wednesday.Estimates that had indicated the bonds would lose as much as...
Oct 10 2024 // S&P Global Ratings said potential losses from Hurricane Milton could fully deplete the 2024 natural catastrophe budgets for rated U.S. property/casualty insurers, affecting underwriting margins and earnings.In a report...
Oct 10 2024 // The insurance industry faces significant challenges in covering catastrophic risks, especially as climate change drives more extreme weather events. With soaring premiums and increasing exclusions, the need for an accurate...
Oct 9 2024 // In the wake of wildfires over the weekend affecting parts of NorthDakota, Insurance Commissioner Jon Godfread and State Fire Marshal Doug Nelson are reminding residents of the necessary steps to protect themselves and...
Oct 9 2024 // Hurricane Milton churned toward Florida’s west coast with winds powerful enough to demolish houses, threatening to unleash once-in-a-century flooding across some of the state’s fastest-growing...
Oct 9 2024 // Even before the second megastorm in as many weeks brings devastating floodwaters to the Southeast US, it’s already clear that federal flood-risk maps underpinning decisions by millions of American homeowners and...
Oct 9 2024 // Investors in catastrophe bonds are girding themselves for substantial losses as the combined destructive force of Hurricanes Helene and Milton looks set to trigger payment clauses on a scale not seen in years.Two weeks...