How insurers can gain a Twister-like understanding of tornado risk this season

At a glance:

  • A slew of tornadoes hit the Northeast this season causing massive damage. While insured losses are still being tallied, the twisters spun off from a chain of severe convective storms (SCS) that brought with them straight-line wind, hail, heavy rain, and flooding from Florida to New York.
  • Annual insured losses from severe convective storms are expected to approach $25 billion—that’s higher than hurricane and earthquake combined, according to new research from Karen Clark & Company.
Read on to learn what insurers can do to better assess and protect themselves, and insureds, from tornado risk this season.

Hurricane Harvey: What now?

Severe flooding in Texas caused by Hurricane Harvey (businessinsider.com)

Since progressing to Category 4 strength over the weekend, Hurricane Harvey has regressed back into a tropical storm. As predicted, rainfall and flooding have taken over as the main threats from Harvey, making this storm far from finished.

Harvey grew up fast, from tropical depression to hurricane

 Track of Hurricane Harvey and sample portfolio exposure 

When Hurricane Harvey makes its eventual landfall late Friday evening into Saturday morning, it’s expected to be the first Category 3 hurricane to hit Texas since Hurricane Bret in 1999. The storm grew quickly, with 30 mph winds developing into 80+ mph winds in just a few days.

Popular Posts