2008 is the Third Costliest Year on Record for CAT Losses

From Reuters:

NEW YORK - Property casualty insurers are expected to report lower-investment income in the fourth quarter and will be hurt by additional catastrophe losses from worse-than-expected hurricane activity earlier in 2008, Wachovia said on Thursday.

Total insured catastrophe losses in 2008 rose to about $45 billion, about double 2007 levels and the third costliest year on record, according to estimate from Munich Re on Thursday. >more

Tornado damages homes, down power lines in Okla.

By JEFF LATZKE, Associated Press Writer

OKLAHOMA CITY – A tornado damaged homes and businesses in the Oklahoma City area Tuesday afternoon, carving a path of destruction several miles long. No serious injuries were reported. Six homes were damaged or destroyed near the northern suburb of Edmond, and businesses reported damage there and in the capital. The Oklahoma County Election

Board lost power on a night when votes were being tallied for a school board election.

In northwest Oklahoma City, one wall of a Chuck E. Cheese restaurant collapsed and windows were blown out, Fire Chief Brian Stanaland said. Signs were stripped and cars were damaged in the parking lot..>more

From Reeves Journal...

Stormy Weather: Texas Gulf Coast contractors clean up after Ike

By Jack Sweet

(Posted Oct 13, 2008)

As hurricanes go, it certainly could have been a whole lot worse... Make no mistake; there have been bigger and badder storms than Hurricane Ike. But hurricanes, even relatively small ones like Ike, are why the English language needs words like "awesome."

Ike, the ninth named storm and fifth hurricane of the 2008 Atlantic hurricane season, came ashore in Southeastern Texas between Galveston Island and the Bolivar Peninsula Sept. 13 as a Category 2 storm [winds ranging between 96- and 110 MPH - Ed.] .>more

Report Says Charities Would Be Lacking in a Big Disaster

By STEPHANIE STROM
( Published: September 17, 2008 – New York Times)

The major charities that respond to disasters would be unable to address fully the need for food, shelter and other services after a catastrophic event like Hurricane Katrina or a major earthquake, a report by the Government Accountability Office says.

“In a worst-case, large-scale disaster, the projected need for mass care services would far exceed the capabilities of these voluntary organizations without government or other assistance,” said the G.A.O., which does research and analysis for Congress.>more

Overcoming Natural Disasters

By Mark Skaer

Trade associations, industry consultants, and many contractors agree upon and preach the need for being prepared for an emergency. However, not many contractors have a written natural disaster plan on record, nor have practiced for a potential weather-related hazard. >more

Hurricanes Gustav, Hanna, and Ike Spark Renewed Interest in Study of How Building Systems Perform in Extreme Weather Conditions

Silver Spring, MD – September 16, 2008:

Heavy hurricane and tropical storm activity in the Atlantic and Gulf Coast regions have renewed interest in the reportCoast in the Eye ofthe Storm – Hurricane Katrina: August 29, 2005. Funded by the RMC Research & Education Foundation and the Mississippi Concrete Industries Association, the study was conducted by Mississippi State University’s Civil Engineering Department. The report includes a forensic evaluation of how different building systems withstand catastrophic weather events including the high winds, projectile damage, storm surge and flooding associated with hurricanes. The report also includes recommendations for strengthening building codes. The findings of the study have already helped to affect changes in building codes along Mississippi’s coastal region.

“As areas affected by these recent storms continue to clean up and begin rebuilding efforts, it is important to consider ways in which life and property may be better protected in the future,” said Foundation Executive Director Julie Garbini adding, “The Foundation’s Board of Trustees was particularly interested in how this study would assist communities in their rebuilding efforts both in the aftermath of Hurricane Katrina but also following future storms since the findings would be applicable to all areas under threat of severe weather.”
Copies of the report may be obtained on CD or as a hardcopy. The mission of the RMC Research & Education Foundation is to support research and educational programs that will increase professionalism and quality in the concrete industry. Additional information about this study and others funded by the RMC Research & Education Foundation may be found at www.rmc-foundation.org.

Ike Spreads Devastation Across Country

By Eric Gilkey, Editor

Claims News Service, Sept. 17, 9:37 a.m. — Despite making landfall as just a Category 2-strength storm, Hurricane Ike's wind and storm surge has caused massive destruction along the Texas and Louisiana coasts, and the storm contin ues to cause claims to be filed as far away as the Midwest. Click HERE>>

DISCUSS THESE ISSUES AND MORE AT THE 2009 NDREXPO & CONFERENCE!

Register Today!