hurricane

We’ve learned that some Florida homeowners and property insurance carriers are using hurricane deductibles as a way to offset some of the costs related to the reinsurance challenges they face at this year’s renewals, with some already imposing specific deductible percentages.

Aeolus Capital Management Ltd., the Bermuda based reinsurance and insurance-linked securities (ILS) focused investment fund manager, has announced a new research project focused on hurricane prediction, looking at the medium-term time horizon.

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.

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.

In explaining the impact of climate change on hurricanes, risk modeller Karen Clark & Company explains that intensity of tropical cyclones has risen with a warming climate, leading it to believe hurricane losses may already be elevated by 11% due to climate change, with as much as another 19% increase possible by 2050 if warming […]

The resurging incidence of cases of COVID-19 across areas of the United States could add pressure to catastrophe insurance and reinsurance market claim processes and amounts, so PCS has undertaken some research on hurricane events to show where the threat is greatest.

Insurance and reinsurance broker Aon has announced the launch of a new Florida hurricane catastrophe risk model developed by its specialist Impact Forecasting unit, as it seeks to provide an alternative view of the risk to market participants.

The official start of the Atlantic hurricane season could be moved earlier by up to two weeks, if officials from National Oceanic and Atmospheric Administration (NOAA) decide that the recent historical climatology warrants an extension to the season.

Climate change and the future state of our climate may mean increased damage and ultimately insurance and reinsurance market losses from hurricanes, as more frequent storms and sea-level rise ramp up storm surge impacts in particular.

A new study looking at the effects of climate change on hurricanes and tropical cyclones suggests that the insurance, reinsurance and insurance-linked securities (ILS) industry may need to prepare for storms that cause even wider swathes of damage and losses, with a warmer world linked to damage extending further inland.