Catastrophe & Restoration

A storm-free August in the Atlantic was probably too much to ask for. Tropical Storm Danny formed out of a cluster of thunderstorms Tuesday about 1,600 miles east of the Windward Islands.

Ten years after the most costly natural disaster in U.S. history, Robert Wooley reflects on how the insurance industry did the work no one else could do.

Ten years later, Katrina is still making an impression. Numerous lessons were learned from Katrina that have helped insurers and other first responders better prepare for other catastrophes. Some may seem obvious, but others demonstrate just how much has changed in the past decade.

Adequate preparedness before a storm arrives, especially business continuity planning, can mitigate potential losses.

Insured losses in the U.S. for the first six months of the year totaled $8.2 billion, far below the past 15 years' average of $11.2 billion.

China Life led Chinese insurers in losses, based on media reports saying payouts may reach $1.6 billion.