Hurricanes News

Global Insured Cat Losses in First Half Are Below Long-Term Average: Munich Re

Overall losses and insured losses from natural catastrophes during the first half of 2015 were below long-term average values, according to a review of global natural catastrophes issued by Munich Re. Total natural catastrophe losses incurred in the first half …

As Nine Storms Roar Across the Pacific Ocean, Two Forces Are to Blame

The Pacific Ocean, named for placidity, is roaring. In the past week, eight tropical systems — and that includes two major typhoons — have formed across the Pacific from China to Mexico. On top of that, another system developed in the …

Three Steps Towards Getting Your Portfolio Ready for Hurricane Season

This post is part of a series sponsored by CoreLogic. Insuring property along our nation’s coastlines can be either extremely lucrative or laden with risk. Many coastal residents are underinsured—which puts property owners and the insurance industry at risk. That’s …

UPDATE: Hurricane Blanca Weakens off Mexico Coast; Bound for Baja Resorts

Hurricane Blanca weakened slightly off Mexico’s Pacific coast on Thursday but could restrengthen as it continues moving toward tourist resorts at the southern tip of the Baja California peninsula, the U.S. National Hurricane Center said. Blanca, the second hurricane to …

Texas Pounded by Weather Extremes in May

Even though it means the commencement of hurricane season, weather-beleaguered Texans are likely pleased that May 2015 has come and gone. Texas was pelted during the month of May with all kinds of violent and deadly weather, including hail storms, …

El Nino May Develop by June; Australia Issues Alert on Tropical Pacific Ocean

An El Nino may develop by June, according to Australia’s state forecaster, which upgraded its outlook for the weather-altering pattern to Alert. Ocean temperatures in the tropical Pacific Ocean continue to be warmer-than-average, trade winds remain weaker-than- average and all …

2014 Insured Losses Hit Lowest Level in Five Years: Guy Carpenter

Insured losses in 2014 were at the lowest level seen since 2009, according to Guy Carpenter’s annual Global Catastrophe Review. The report says that significant insured losses in 2014 totaled approximately USD33 billion, a dramatic drop when compared to the …

Sophisticated Resilience Model in Development in Colorado – And It’ll be Free

Efforts are underway in Colorado to build a sophisticated computer model that will offer a look down to the minute details at just how communities may withstand – or crumble under – perils like earthquakes, hurricanes, tornadoes, tsunamis and other …

A.M. Best Report: Last Resort Insurers Welcome Catastrophe Bond Market

The convergence market has provided an opportunity for entities that act as insurers of last resort to transfer some of their peak exposures to the capital markets, according to a Best’s Special Report titled, “Last Resort Insurers Welcome Relief From Growing Catastrophe …

Fitch: Hawaii Storms Shouldn’t Hurt Cat Bonds

Insured losses stemming from two Hawaii hurricanes won’t break the bank, in large part because both storms diminished in intensity or avoided a direct hit. Fitch Ratings concluded in a review of the situation that outstanding catastrophe bonds including the …