So far the U.S. hurricane season has been remarkable for its absence, but Standard & Poor’s Ratings Services questions whether that trend will continue. In a report, entitled “Are U.S. Insurers Ready If The Calm Season Turns?”, S&P examines the remaining months of the 2007 hurricane season and its possible effect on the U.S. insurance industry.
Despite early season storms Andrea and Barry, the 2007 season, “is turning out to look more like 2006, which had only 10 named storms,” S&P notes. However the report cautions that “this season could still become quite active because about 90 percent of Atlantic Basin hurricanes emerge from August through October.” In 2005 only six tropical storms had formed by the end of July; however, “by the end of the season, 28 named storms had formed.”
The report is available to subscribers of S&P’s RatingsDirect sevice at: www.ratingsdirect.com. If you are not a RatingsDirect subscriber, you may purchase a copy of the report by calling (1) 212-438-9823 or sending an e-mail to research_request@standardandpoors.com.
Ratings information can also be found on Standard & Poor’s public Web site at: www.standardandpoors.com; under Credit Ratings in the left navigation bar, select Find a Rating, then Credit Ratings Search.
Source: S&P
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