All the headlines from our Hurricane Topic Page, ordered by recency.
Nov 16 2005 // The Department of Homeland Security’s Federal Emergency Management Agency (FEMA) is moving to end its subsidies for hotel and motel rooms for 53,000 families displaced by Hurricanes Katrina and Rita.On Dec. 1, 2005...
Nov 16 2005 // Texas Insurance Commissioner Mike Geeslin ordered the rates of homeowners that purchase windstorm coverage from the Texas Windstorm Insurance Association (TWIA) to remain unchanged, while increasing commercial rates five...
Nov 16 2005 // The Louisiana Department of Insurance released the following statement by Commissioner of Insurance Robert Wooley to the Louisiana Legislature expressing his support for the establishment of statewide uniform building code...
Nov 16 2005 // A major hurricane making landfall in the New York City metropolitan area would result in approximately $50 billion of insured losses with total economic losses exceeding $100 billion, according to an expert testifying...
Nov 16 2005 // The St. Paul Travelers Companies Inc. announced that its preliminary estimate for catastrophe losses relating to Hurricane Wilma is approximately $220 million, after tax, net of reinsurance. This amount is based upon an...
Nov 14 2005 // The U.K.’s Omega Underwriting Holdings PLC, a leading Lloyd’s insurer (Syndicate 958), has announced plans to raise £90 million ($157 million), both to increase syndicate capacity and to support the...
Nov 14 2005 // Germany’s Allianz had a very successful third quarter with net income up 70 percent to €794 million ($934 million) and €1.7 billion (2 billion) operating profit,” despite,” said the company’s...
Nov 14 2005 // The Louisiana Department of Labor reported that time is running out for individuals who are eligible to apply for Disaster Unemployment Assistance (DUA) as a result of Hurricanes Katrina and Rita. The deadline to file is...
Nov 10 2005 // Standard & Poor’s Ratings Services announced that it has assigned its preliminary “BBB” senior debt, “BBB-” subordinated debt, and “BB+” preferred stock ratings to the $750...
Nov 10 2005 // It may be a case of locking the barn door after the horse has gone (see following article), but Bermuda-based PXRE has taken a significant step to protect itself “from extreme catastrophe losses arising from...
Nov 10 2005 // Germany’s Hannover Re, the world’s third largest reinsurer, has been hit with a commensurately large share of the losses from Katrina, Rita et. al. The company’s 9 month report notes an “exceptional...
Nov 10 2005 // The failures that left thousands of Florida residents unprepared for Hurricane Wilma should be addressed by launching a new election-style marketing campaign, expanding the tax-free shopping week and beefing up...
Nov 10 2005 // More than 50,000 claims are expected in Alabama from hurricane damage according to Ragan Ingram, assistant insurance commissioner for the Alabama Department of Insurance. He said, however, that complete cost estimates...
Nov 10 2005 // Seattle-based Safeco announced estimated after-tax catastrophe losses from Hurricane Wilma of $29 million, or $0.23 per diluted share. Pretax catastrophe losses from the storm are estimated at $45 million.These figures...
Nov 10 2005 // North Pointe Holdings Corporation today reported financial results for the third quarter ended Sept. 30, 2005. Net income in the third quarter increased to $511,000 from a loss of $206,000 in the prior year period....
Nov 9 2005 // National Interstate Corporation reported net income for the third quarter ended September 30, 2005 of $8.2 million ($.43 per share diluted), compared to $4.7 million ($.31 per share diluted) for the third quarter of 2004....
Nov 9 2005 // Louisiana Department of Insurance issued a second notice regarding the Emergency Rules that require insurance companies to give policyholders affected by Hurricane Katrina or Hurricane Rita an automatic extension of time...
Nov 9 2005 // Back-to-back insurance rate increases averaging 20 percent for non-hurricane premiums and 32 percent for wind-only premiums could be requested by Citizens Property Insurance Corp.’s board of directors after it meets...
Nov 8 2005 // Legislation in Congress to pass U.S. Rep. Mark Foley’s proposal to allow the accumulation of tax-deferred catastrophic reserves by insurers, and a study on how to add programs to the Florida Hurricane Catastrophe...
Nov 8 2005 // James River Group Inc. in Chapel Hill, N.C. reported a net loss of $9.5 million for the third quarter of 2005 compared to net income of $3.0 million for the third quarter of 2004. The net loss for the third quarter of 2005...