Atlantic Hurricane Season

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Research suggests poleward shift for hurricanes & typhoons due to climate change

New research suggests hurricane and typhoon activity may shift further towards the poles, with tropical cyclone zones expanding and as a result hurricanes and typhoons occupying a broader range of latitudes in future, all because of climate change. The report published in Nature Geoscience and lead authored by Joshua Studholme of read the full article →

Northern US states increasingly hit by tropical storms & hurricanes: Chaucer

Underwriting firm Chaucer has highlighted unpredictable patterns in weather, citing the fact that now some 16% of hurricanes, tropical storms and depressions hit northern US states, compared to just 12% 40 years ago. This is causing some challenges for insurance and reinsurance market interests, according to Chaucer, with increasing temperatures said read the full article →

Ida reinsurance recoveries significant for some, backup cover likely needed

Information from sources suggests that some primary insurance carriers are likely to recover significant amounts from their reinsurance arrangements after hurricane Ida, while a number of insurers are likely to exhaust their reinsurance towers completely, and some catastrophe bonds remain exposed. We understand some brokers have been telling their clients just read the full article →

Hurricane Nicholas insured loss around $950m: KCC

The insurance and reinsurance market loss from recent hurricane Nicholas is estimated to be around US $950 million, according to modelling analysis undertaken by catastrophe risk specialist Karen Clark & Company. Karen Clark & Company (KCC) is again very quick to produce an industry loss estimate for hurricane Nicholas, a storm read the full article →

RMS lifts hurricane Ida estimate to $31bn – $44bn, adds northern flood losses

Catastrophe risk modelling firm RMS has now added a further $6 billion to $9 billion of insurance and reinsurance market losses to its industry estimate for recent hurricane Ida, adding the expected flood toll further north and taking the total estimate range to $31 billion to $44 billion. RMS' estimate is read the full article →

Hurricane Nicholas insured loss may be close to $700m: BMS

In an update on hurricane Nicholas, the latest Gulf of Mexico tropical storm that intensified right up to making landfall and struck Texas yesterday, BMS Senior Meteorologist Andrew Siffert explained that Nicholas could cause an insured loss similar to 2019's tropical storm Imelda, at around $700 million. Hurricane Nicholas made landfall read the full article →

Hurricane Ida industry loss pegged at $32.2bn by Jefferies

Analysts at investment bank Jefferies said this morning that they estimate the insurance and reinsurance industry loss from recent hurricane Ida will be around $32.2 billion, taking the 2021 catastrophe loss year-to-date run-rate far above the average. August's catastrophe events, including hurricane Ida which was the largest of the year so read the full article →

Hurricane Nicholas makes landfall in Texas, threatens widespread flooding

The fourteenth named storm of the 2021 Atlantic hurricane season, tropical storm Nicholas, continued to intensify off the Texas coast and eventually made landfall in the last few hours having strengthened into a Category 1 hurricane Nicholas, becoming the sixth hurricane of the season. As we explained yesterday, Nicholas gained some read the full article →

AIR lifts top-end of hurricane Ida loss estimate to $30bn, to include floods

Catastrophe risk modeller AIR Worldwide now says that hurricane Ida will cost the insurance and reinsurance market between $20 billion and $30 billion, an estimate that now includes private market inland flood insured losses. AIR's first industry loss estimate for hurricane Ida was for the wind and storm surge impacts of read the full article →

Tropical storm Nicholas strengthening as it approaches Texas landfall

Tropical storm Nicholas formed yesterday, becoming the 14th named storm of the 2021 Atlantic hurricane season so far, and is now heading for a landfall today in Texas later today while strengthening as it goes. In recent hours tropical storm Nicholas has gained structure and its eye has begun to reform, read the full article →