All the headlines from our Flood Topic Page, ordered by recency.
Sep 19 2005 // Hurricane Katrina could be called an industry nightmare. Some insurers were still reeling from the effects of the Asian tsunamis and last year’s four hurricanes. Yet when Katrina struck in late August, she forced...
Sep 19 2005 // The New Orleans tragedy may spawn a wave of litigation related to flood protection and levee failures. Public statements, which may serve as a foundation for massive public safety legal claims, began Sept. 1.Based on the...
Sep 16 2005 // Mississippi Attorney General Jim Hood’s complaint, filed in state court to force insurers to pay for flood losses not covered by property insurance contracts is “groundless” and an attempt to...
Sep 16 2005 // Plaintiff attorneys with the McKernan Law Firm – Jerry McKernan, Joe Bruno, Calvin Fayard and Vernon Thomas – reported that they have filed a suit seeking a speedy, favorable resolution that all property and...
Sep 16 2005 // A lawsuit that attempts to force insurance companies to pay for flood insurance losses under homeowners insurance contracts filed by Mississippi Attorney General Jim Hood will, if successful, destroy the viability of every...
Sep 16 2005 // Evacuees who have come to Texas should contact their insurance companies as soon as possible, according to the Insurance Council of Texas. Adjusters representing insurers have begun the process of entering the areas...
Sep 16 2005 // Nationwide Mutual Insurance Company has issued a statement it hopes will set the record straight regarding Mississippi Attorney General Jim Hood’s acusations that insurance adjusters attempted to cheat Hurricane...
Sep 15 2005 // Hurricane warnings are up over a 220 mile stretch of North Carolina’s coast, from Surf City, north of Wilmington to the Virginia line as officials fear serious flooding and a possible 11-foot storm surge. Early...
Sep 15 2005 // Experts are warning that thousands of used cars and trucks that were under water in New Orleans are expected to hit Arizona used-car lots and street corners in coming months.These vehicles are usually “totaled”...
Sep 14 2005 // Congress has agreed to increase the borrowing authority of the federal program overseeing flood insurance to cope with the huge expected costs of claims from Hurricane Katrina.The Senate, by voice vote, approved a...
Sep 13 2005 // Mississippi Insurance Commissioner George Dale told lawmakers at a joint House and Senate Insurance Committee meeting that it was unfair to attempt to force insurance companies to cover flood damage if homeowners did not...
Sep 12 2005 // As the Reinsurance Rendezvous opens in Monte Carlo, A.M. Best Co. has issued a comment on the possible impact of Hurricane Katrina on the global insurance industry.Many of the biggest European companies – Munich Re...
Sep 9 2005 // Bermuda-based Aspen Insurance Holdings Limited announced its initial assessment of the losses sustained from Hurricane Katrina and the “Great New Orleans Flood” would be approximately $150 million.In...
Sep 9 2005 // Risk Management Solutions now estimates that insured losses from Hurricane Katrina are expected to be $40-$60 billion, of which $15-$25 billion are related to the Great New Orleans Flood.Total economic losses may now...
Sep 8 2005 // The Zurich Financial Services Group has issued a statement that, based on preliminary estimates, “it expects aggregate claims payments related to the recent floods affecting Switzerland, southern Germany and Austria...
Sep 8 2005 // A draft order released by Louisiana’s insurance commissioner Wednesday would significantly restrict the ability of property and health insurance companies to cancel the policies of Hurricane Katrina victims in that...
Sep 7 2005 // Pennsylvania State Rep. Peter J. Daley, D-Washington/ Fayette, is planning on introducing a bill to provide flood insurance premium subsidies and other small disaster relief to homeowners, small businesses and...
Sep 6 2005 // Good news comes to those who wait, and in this case, it is the city of New Orleans.One week after floods from Hurricane Katrina swamped the city and left many homeless and either dead or needing evacuation, officials said...
Sep 5 2005 // At press time, forecasters were predicting insured losses from Hurricane Katrina–which made landfall 45 miles west of Biloxi, Miss., and 35 miles east of New Orleans on Aug. 29–would be in the $10 billion to...
Sep 5 2005 // MASSACHUSETTSFed Probe Firing of MassMutual CEO: Federal prosecutors are investigating the conduct that led to the firing of former MassMutual Insurance Comany chief executive Robert J. O’Connell, the company...