Experts are predicting that the ongoing hurricane season could be one of the costliest in recent history for American insurers. The combination of frequent and severe weather events is expected to result in substantial financial losses for the industry.
Tag: hurricane season
‘Extremely Dangerous’ Hurricane Beryl Takes Aim at Caribbean
Hurricane Beryl, described by forecasters as “extremely dangerous,” is set to cause massive damage across the Caribbean’s Windward Islands on Monday.
What Does the Active Hurricane Season Mean for the Texas Home Insurance Crisis?
We’ve heard from several outlets that the 2024 Atlantic hurricane season is projected to be explosive. In May, for example, the National Oceanographic and Atmospheric Administration (NOAA) projected an 85% chance of an “above-normal” season with multiple major hurricane possibilities.
Catastrophe Bond Sales Hit Record High as Markets Brace for Rough Hurricane Season
The issuance of catastrophe bonds has reached a new high, as the market braces for a tough hurricane season with the potential to cause significant damage.
CoreLogic Estimates 32.7M Homes at Risk of Damage Ahead of Forecasted Active Hurricane Season
CoreLogic found that from Texas to Maine, more than 32.7 million residential properties are at risk of moderate or severe damage sustained from hurricane-force winds.
Companies Eyeing Insurance Rates in FL Ahead of Hurricane Season
For the first time since 2021 when United Property and Casualty Insurance stopped writing new policies in Florida and asked for a 14.7% rate increase, some homeowners may finally get relief.
Can Science Say Which Cities Will Get Hit This Coming Hurricane Season?
The bottom line of every preseason hurricane forecast this spring has been sobering, even a little scary. Meteorologists and their computer models all agree that it’s going to be a super busy and perhaps record-breaking season — and that with so many expected storms, it’s very likely that somebody, somewhere is going to get smacked this year. But exactly who and where?
NOAA Issues Aggressive Outlook for Upcoming Hurricane Season
Government meteorologists predicted 17 to 25 tropical storms and said eight to 13 of them are likely to become hurricanes, including four to seven “major” hurricanes. The forecast underscores how record-hot ocean temperatures have increased the risk of destructive weather.
Bad News for Hurricane Season: La Niña Chances Grow More Certain, NOAA Says
Climate troublemaker La Niña isn’t here yet – but it is on the way, federal weather forecasters said in a report released Thursday morning.
CSU Predicts ‘Extremely Active’ 2024 Atlantic Hurricane Season
Weather forecasters at Colorado State University (CSU) on Thursday predicted an “extremely active” 2024 Atlantic hurricane season because of warm sea surface temperatures and less wind shear to break up storms in the summer and fall.