Catastrophe & Restoration

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  Forgotten Tragedy: The West Fertilizer Explosion

  By Chad Hemenway, PropertyCasualty360.com, Caterina Pontoriero, PropertyCasualty360.com  |  June 18, 2013

  PC360 News Editor Chad Hemenway sits down with Tommy Muska, mayor of (and insurance agent in) West, Texas—a city rocked on April 17 by a massive explosion at the West Fertilizer Co., which destroyed 140 homes, an apartment complex, a nursing home, schools and municipal infrastructure.

• Firefighters Begin to Tame Record-Breaking Colorado Wildfire

  By Keith Coffman, Reuters  |  June 17, 2013

  Assessment teams increased the number of homes destroyed to 485, the highest property loss total from a wildfire on record in Colorado.

• Berkshire Hathaway Agrees With SEC to Refine Loss Disclosure

  By Mark E. Ruquet, PropertyCasualty360.com  |  June 17, 2013

  Berkshire Hathaway has agreed to a request by the Securities and Exchange Commission to refine its disclosure of catastrophe and other losses.

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  Black Forest Wildfire Now Colorado’s Most Destructive; 380 Homes Burned

  By Anya Khalamayzer, PropertyCasualty360.com  |  June 14, 2013

  The wildfire that has menaced Colorado since June 11 is now the most destructive wildfire on state record, having destroyed about 380 homes.

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  "All Ears To The Ground" for Advancing Risks

  By Denise Tessier  |  June 14, 2013

  The industry talent shortage is getting worse, earthquake risk should be addressed on the national level, and other revelations plucked from spring industry conferences.

• Munich Re, Allianz Face Millions in Flood Damage Claims

  By Jonathan Gould, Reuters  |  June 14, 2013

  Reinsurer Munich Re is likely to face damage claims of $333-466 million from flooding in central Europe, a bank analyst predicted on Friday, after Allianz pencilled in its own net hit at 350 million.

• Colorado Wildfire Destroys More Than 90 Homes

  By Keith Coffman, Reuters  |  June 13, 2013

  A fierce, wind-whipped wildfire destroyed more than 90 homes and menaced additional communities in and around Colorado City, forcing thousands of residents to flee.

• May Tornado Claims Top $470M in Oklahoma

  By Chad Hemenway, PropertyCasualty360.com  |  June 13, 2013

  Insurance payments on May claims related to severe tornadoes in Oklahoma have eclipsed $470 million, and Insurance Commissioner John D. Doak this is “just the beginning.”

• Wildfires Spread in Colorado

  By Staff Writer  |  June 12, 2013

  Wildfires are consuming thousands of acres in Colorado, destroying up to 100 homes and causing many more evacuations as federal officials struggle to mobilize and fight the blazes.

• New York Lays Out $20B Plan to Adapt to Climate Change

  By Hilary Russ, Reuters  |  June 12, 2013

  New York Mayor Michael Bloomberg on Tuesday announced a $20 billion plan to prepare for rising sea levels and hotter summers expected as a result of climate change in the coming decades.

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  New and Pending Regulations To Impact Claims, Underwriting Procedures

  By Kathy Donovan  |  June 12, 2013

  With differing effective dates, insurers must review and implement state-specific changes to several underwriting and claims functions.

• German Insurers See Flood Damage Above $2.4B

  By Alexander Huebner and Jonathan Gould, Reuters  |  June 10, 2013

  German insurers are likely to face damage claims from current flooding in the country that are higher than the 1.8 billion euros ($2.4 billion) seen in the Elbe River floods of 2002.

• Insured Losses in Oklahoma from May Tornadoes Reaching $250M

  By Chad Hemenway, PropertyCasualty360.com  |  June 6, 2013

  Insured losses are nearing $250 million from tornado-related claims in Oklahoma since May 19.

• Czech Floods to Cost Insurers $381M: Industry Group

  By Reuters  |  June 6, 2013

  Insured damage from the worst floods in the Czech Republicin more than a decade could cost $381.35 million, the country's insurers said on Thursday.

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  Aon Benfield: At Least $4B in Insured Losses from May Storms in U.S.

  By Chad Hemenway, PropertyCasualty360.com  |  June 5, 2013

  Storm damage in the U.S. in May will cost insurers at least $4 billion, says Aon Benfield’s Impact Forecasting.

• CSU, TSR Continue to Call for Above-Average Hurricane Season

  By Chad Hemenway, PropertyCasualty360.com  |  June 5, 2013

  There is a probability of 96-percent a hurricane of any strength will make landfall—with the usual suspects at the head of the list for landfall, says a team at Colorado State University.