2017 hurricane season News

Cat Facility CCRIF to Pay 6 Caribbean Nations $29.6M for Hurricane Irma Damage

Cayman Islands-based CCRIF (formerly the Caribbean Catastrophe Risk Insurance Facility) will make payments totaling US$29.6 million to six Caribbean nations recovering from Hurricane Irma. CCRIF’s parametric tropical cyclone insurance policies will pay $6.8 million to Antigua & Barbuda; $6.5 million …

Hurricane Irma Devastates Chain of Caribbean Islands, Now Setting Sights on Florida

Irma barreled toward Florida after battering Puerto Rico and devastating a chain of small Caribbean islands, as the Category 5 hurricane threatens to turn into the most expensive storm in U.S. history. Irma, one of three hurricanes churning toward North …

As Harvey Winds Down, Hurricane Irma Waiting in Wings

Hurricane Harvey has left major devastation in Texas, but there is another hurricane called Irma out in the Atlantic that could take aim at the United States within the next week or so. Irma became a hurricane early on Thursday …

Climate Change and Hurricanes – The Worst Is Yet to Come

How powerful would Hurricane Harvey have been in 1880? How much stronger might it be in 2100? A single Hurricane Harvey has been more than anyone can bear. But to better prepare cities for future storms, researchers are preparing to …

Insurers Will Easily Swallow Harvey’s Claims but Growing Climate Risk Predicted

Damages from Hurricane Harvey’s ravaging of Houston and the Texas Gulf Coast are estimated to be well below those from the major storms that hit New Orleans and New York in recent years, insurance executives have said. Though insurers should …

Lloyd’s Insurers’ Stocks Fall on Possible Claims from Hurricane Harvey

Lloyd’s of London insurers dropped amid speculation that they will suffer losses from Tropical Storm Harvey that’s battering Houston, the epicenter of the U.S. oil industry. The storm, which which made landfall as a category 4 hurricane and then drifted …

A.M. Best Weighs Hurricane Harvey’s Financial Hit; Ranks Top 30 Texas Insurers

With Hurricane Harvey threatening the Texas coastline, A.M. Best said it has begun to assess the potential financial impact this event may have on the U.S. property/casualty (P/C) industry. The most recent track of Harvey has the storm path running …

Hurricane Harvey Looks to Be First Big Test for Trump FEMA Director Long

Brock Long knew it was just a matter of time. “We’ve gone 11 years without a major hurricane land-falling in the U.S.—that’s a one-in-2,000 chance,” said Long, President Donald Trump’s administrator of the Federal Emergency Management Agency, in an interview …

Harvey Set to Bring ‘Catastrophic’ Flooding Across Texas

Harvey, which could strengthen into the first hurricane to strike Texas since 2008, forced workers off Gulf of Mexico platforms, sent cotton rallying and has airlines preparing for flight disruptions. Tropical Storm Harvey, which has shut oil and natural gas …

Severe Typhoon Hato Lashes Hong Kong; Flash Flood Warning Issued

Severe Typhoon Hato made landfall in China after it lashed Hong Kong with heavy winds and rain, forcing the city to issue the highest storm warning and its stock exchange to cancel trading for the day. The Hong Kong Observatory …