Active hurricane season forecast
The 2010 hurricane season could prove the equal of 2005, which saw 28 named storms, according to top forecasters.
Lloyds have stated that in 2005 major hurricanes Katrina, Rita and Wilma left insurers and reinsurers reeling from a financial hit exceeding $60bn.
The National Oceanic and Atmospheric Administration (NOAA) is forecasting a 70% chance that the Atlantic Basin will see 14 to 23 named storms, and eight to 14 hurricanes (with between three and seven being major).
Hurricane activity in the Atlantic Basin and hitting the US will be 55% above the long term average, according to Tropical Storm Risk (TSR), a firm which accurately forecast the active seasons in 2004 and 2005, and the quieter years of 2008 and 2009.
This would follow on from the Chilean earthquake, which has caused insured losses of $2bn to $8bn, according to Stephen Jackson, MD of Latin America for Cooper Gay, and windstorm Xynthia.
Category: Insurance News
Visited 1176 times, 2 so far today
Comments (0)
Trackback URL | Comments RSS Feed
There are no comments yet. Why not be the first to speak your mind.