Hurricanes
Cat bond prices fall
Catastrophe bonds have seen their sharpest slump since 2008 as forecasters predict a busier-than-usual Atlantic hurricane season.
First hurricane of 2010 season forms
Hurricane Celia, the first hurricane of the 2010 Pacific season, formed in the eastern Pacific Ocean near Mexico on Sunday but headed away from land, the US National Hurricane Center said.
First named storm of 2010 Pacific hurricane season hits central America
Agatha, the first named storm of the 2010 East Pacific hurricane season was declared on Saturday, located just off the Guatemala coast before making landfall as a tropical storm along the border of Mexico and Guatemala at 22:40 UTC on Saturday.
Hurricane warning
The National Oceanic and Atmospheric Administration has predicted "one of the most active [hurricane] seasons on record."
US government predicts up to 23 Atlantic storms
National Oceanic and Atmospheric Administration (NOAA) predicts “one of the most active [hurricane] seasons on record.”
AIR: Deepwater spill could affect hurricane season
A report from the modeling firm says that effects of the spill on hurricane season are likely to be minimal but there is a chance the oil could act to prevent or encourage hurricane formation.
Reinsurers should prepare for active 2010 hurricane season – TSR
Tropical Storm Risk (TSR), which provides real-time mapping and prediction of tropical cyclone windfields worldwide, anticipates Atlantic basin and US landfalling hurricane activity being 55% above the long-term (1950-2009) norm this summer.
Munich Re issues $80m cat bond
Munich Re has obtained cover for US hurricane and European windstorm risks amounting to $80m from Irish SPV EOS Wind, which placed a catastrophe bond in the market.
Guy Carpenter predicts slow pacific cyclone season
Risk management and reinsurance firm Guy Carpenter has predicted a that tropical cyclone activity in the Western North Pacific will be below normal levels for the remainder of the year.
US facing active hurricane season
This year's US hurricane season will be above-average, forecasters at Colorado State University have said. According to the forecasts, there will be 11-16 named storms, 6-8 hurricanes and 3-5 major hurricanes with sustained winds of 111 mph or greater.
Lloyd's hails record profit of £3.9bn for 2009
Lloyd's this morning announced a £3.9bn profit for 2009 (2008: £1.9bn), which it hailed as a "record results during challenging economic conditions".
Looking Back 10 Years Ago: Insurers hit by high claims costs
Insurers suffered their second-heaviest claims burden ever last year — only 1992, the year of Hurricane Andrew, was worse.
Countries assess CCRIF coverage
In light of the recent earthquakes in Haiti and Chile, many countries are re-examining their preparedness for natural catastrophes, including their levels of coverage under CCRIF.
Cooper Gay: Chilean earthquake most expensive in Latin American history
The recent earthquake in Chile could be the most expensive insured event in Latin American history, Cooper Gay has claimed.
AIR estimates winter storm will cost up to €3bn
Winter storm Xynthia, which hammered mainland Europe over the weekend, will cost up to €3bn, modelling agency AIR has said.
CCRIF and CIMH provide support for Haiti in its reconstruction efforts
The Caribbean Catastrophe Risk Insurance Facility and the Caribbean Institute for Hydrology and Meteorology are extending support to Haiti in its long-term recovery and reconstruction efforts, particularly in hazard mitigation and future disaster…
Reinsurers had profitable 2009 claims broker Cooper Gay
Reinsurers benefit in 2009 from recovering investment returns and absence of major catastrophes although 2010 could be more challenging with above average hurricane season expected according to a Cooper Gay report.
The Hartford planning new cat bond
The Hartford is planning a new catastrophe bond, reports say.
Swiss Re, Scor in cat bond launches
Swiss Re and Scor launch Cat bonds.
Total catastrophe losses fall in 2009
The total cost of natural catastrophes and man-made disasters in 2009 fell to $52bn from $267bn in the 2008, a survey from Swiss Re has shown.
QBE sued for bad faith claims handling
QBE is being sued for over $500m in Miami for bad faith claims handling practices
Ruling paves way for Katrina lawsuits against the US Army
Hurricane Katrina victims have been awarded damages in a lawsuit claiming a canal dredged by US Army engineers from New Orleans to the Gulf of Mexico destroyed a natural barrier to storm surge.
Ida lands in the Gulf of Mexico
Tropical storm Ida lands in the USA, but no major damage is reported.
Ida downgraded to a tropical storm
Ida, which threatened the US Gulf of Mexico as a hurricane, has been downgraded to a tropical storm.