Most Popular Catastrophe Headlines This Year
The most viewed headlines from our Catastrophe Topic Page over the last year.
#1 Florida Governor Turns Heads with Comment that Citizens Insurance is ‘Not Solvent,’ Just as Board Approves Catastrophe Bond
Apr 3 2023 // Florida Gov. Ron DeSantis raised some questions when he suggested that Citizens Property Insurance Corp., the state-created insurer, has “not been solvent” and may be unable to pay all claims from a major...
#2 DeSantis Turns Heads with Comment that Citizens Insurance ‘Not Solvent;’ Board Approves Cat Bond
Mar 20 2023 // Florida Gov. Ron DeSantis raised some questions Friday when he suggested that Citizens Property Insurance Corp., the state-created insurer, has “not been solvent” and may be unable to pay all claims from a...
#3 January Renewals See Hardest Property Catastrophe Reinsurance Rates in Generation
Jan 4 2023 // A convergence of global events has led to the hardest property-catastrophe reinsurance market in a generation and a “complex,” “grueling” and “late” January renewal season, which went...
#4 Allstate Announces May Catastrophe Losses, Auto Rate Hikes
Jun 15 2023 // Allstate Corp. today released estimated catastrophe losses for the month of May of $885 million or $699 million, after-tax. There were a dozen events in May causing $893 million in catastrophe losses, Allstate said, but...
#5 Hurricane Ian Losses Up to $47B in Florida, Sinking More Insurers, CoreLogic Calculates
Sep 30 2022 // Wind and storm-surge losses from Hurricane Ian could reach as $47 billion in Florida alone, a figure made larger by inflation and rising interest rates, the property analytics firm CoreLogic said in a new...
#6 Allstate Records $2.7B Net Catastrophe Hit on Way to Q2 Loss of $1.4B
Aug 1 2023 // Allstate Corp. reported net catastrophe losses of $2.7 billion in the second quarter, resulting in a net loss for the period of $1.4 billion as catastrophe and underwriting losses offset other favorable factors. President...
#7 Series of Tesla Fires in Florida Linked to Saltwater Damage From Hurricane Ian
Oct 17 2022 // A Florida senator is calling for action from the Transportation Department and automakers after a series of electric vehicle fires tied to Hurricane Ian. The storm caused flooding and destruction across the state, and fire...
#8 UPDATE: Hurricane Ian Turning Toward Tampa Area and $258B in Replacement Value
Sep 27 2022 // Florida property insurance experts have long warned that a powerful hurricane strike on a major metropolitan area could result in catastrophic losses and the insolvency of more carriers. Those warnings could become reality...
#9 Allstate Estimates $1.7 Billion in Q1 Catastrophe Losses
Apr 20 2023 // Allstate Corp. said pre-tax catastrophe losses for the first quarter are expected to be about $1.7 billion, with about $1.3 billion occurring during the month of March. Losses in March were attributed to 10 events with 75%...
#10 Allstate Posts Loss With ‘Exceptionally’ High Catastrophe Costs
May 4 2023 // Allstate Corp. posted a bigger first-quarter loss than analysts expected as higher premiums failed to offset rising auto costs and soaring catastrophe losses. The company reported a $342 million loss on an adjusted basis...
#11 Update: Allstate Estimates Catastrophe Losses of $1 Billion in June, $2.7 Billion in Q2
Jul 20 2023 // Allstate Corp. announced estimated catastrophe losses for the month of June of $1.01 billion, or $799 million, after-tax. June’s month catastrophe losses include 18 events estimated at $1.13 billion, with...
#12 Travelers’ Q2 Profit Plummets on Historic-Level Catastrophe Losses
Jul 20 2023 // Travelers Companies Inc. on Thursday reported a 98% fall in quarterly profit, as severe wind and hailstorms in parts of the United States pushed up its catastrophe losses. Core income of the New York-based company, often...
#13 Florida’s Universal Insurance Bounces Back in Q4 After Hurricane Ian Losses
Feb 27 2023 // Universal Insurance Holdings Inc. (UVE), parent company of Universal Property & Casualty Insurance Co., last week reported net income of $25.1 million in its fourth quarter, a sharp increase from the previous...
#14 State Farm to Pay $100 Million to Federal Government for Hurricane Katrina Claims
Aug 25 2022 // State Farm Fire and Casualty Co. and two former claims-adjuster sisters, who more than 16 years ago filed a lawsuit claiming the insurer committed fraud against the government’s National Flood Insurance Program...
#15 ‘Hardening’ Property Catastrophe Market Enters ‘Hard’ Market Phase: Bank of America
Oct 12 2022 // European reinsurers will miss their earnings targets in 2022 – for the sixth year in a row – which is pressuring the industry to raise rates and continue improving the quality of their portfolios, according to a...
#16 Delos to Insurers Shedding Wildfire Risk: Send the Homes to Us
Jul 12 2023 // About 6 million homes in the U.S. are considered uninsurable due to wildfire risk. The models at Delos Insurance say about half of those homes are absolutely insurable. “Delos sees a lot more insurable homes in...
#17 NHC Report Ranks Ian as Costliest Florida Hurricane, Shows Forecasting, Storm Surge
Apr 4 2023 // The National Hurricane Center’s report on Hurricane Ian, posted Monday, six months after the storm hit southwest Florida, pegs Ian as the most expensive to hit the Sunshine State, causing twice as much damage as...
#18 Will Hurricane Ian Consume Florida’s Catastrophe Fund, Forcing More Back-Breaking Reinsurance Next Year?
Oct 17 2022 // While some analysts are predicting that the property insurance industry will be able to manage Hurricane Ian and its estimated $50 billion in insured losses, a few are now warning that the storm could significantly erode...
#19 Strong Category 4 Hurricane Ian Poised to Become One of the Costliest
Sep 28 2022 // With maximum sustained winds of 150 mph at just after 3 p.m. on Sept. 28, Hurricane Ian was just shy of Category 5 status when it made landfall in Cayo Costa, Fla. Ian, one of the strongest hurricanes to ever make U.S....
#20 Earthquakes Deliver Another Blow to Turkey’s Re/Insurance Industry: Reports
Feb 8 2023 // Two powerful earthquakes, which hit southeastern Turkey on Feb. 6, 2023, deliver another blow to the local re/insurance industry, according to commentaries from AM Best and GlobalData. While it is likely that international...
