10 hurricane takeaways from 2018

While the 2019 hurricane forecast is quite favorable (NOAA is predicting a 40 percent chance of a near-normal season with 4 to 8 hurricanes and 2 to 4 of them major), it comes with the reminder that it only takes one. Being prepared means being able to handle the trend of back-to-back hurricanes like we saw in 2017, along with the intensity of hurricanes like Michael and Florence in 2018. As you recall, Florence stalled and brought massive inland flooding to the Carolinas. And, six months after making landfall, Hurricane Michael was upgraded to a Category 5 hurricane by NOAA scientists who determined wind speeds had reached 160 mph at landfall.

The Friday Five: Week of May 27, 2019

If you care about what’s happening in the world of property and casualty (P&C), then this is the place to be. Each week, we serve up a bite-size roundup of the latest news, hot topics, and (admittedly subjective) tidbits to keep curious insurance professionals, like you, in-the-know.

The Friday Five - Week of May 20, 2019

If you care about what’s happening in the world of property and casualty (P&C), then this is the place to be. Each week, we serve up a bite-size roundup of the latest news, hot topics, and (admittedly subjective) tidbits to keep curious insurance professionals, like you, in-the-know.

Q&A with WeatherGuidance, leading weather data provider

WeatherGuidance is quickly earning a reputation as a leading provider of weather data in the US. Through its collaboration with SpatialKey, the company provides insurers with access to pre- and post-event multi-peril risk reports as well as the ability to analyze, visualize, and map the exact size and path of severe storms including tornado, wind, and hail events. Their offering is fast becoming a popular one among SpatialKey clients who use WeatherGuidance data for forecasting, notifications, and post-event footprints.  

Uncertain European Windstorm Season Upon Us: Claims mitigation and response should be ready

Aileen (also known as Sebastian) was the first named storm of the European windstorm season, bringing a healthy dose of what could be to come. Still, uncertainty pervades the 2017-18 season. Will it be benign, like past seasons, or will we see a higher frequency and severity of storms? 

Hurricane Nate: Not as damaging as others, but a reminder that there are still more hurricanes to come

An abandoned boat takes on water on the Mississippi Gulf Coast - Image courtesy of NY Post

Hurricane Nate made landfall Saturday night as a Category 1 hurricane, packing winds of 85 MPH. Nate follows a slew of major storms, some of which have been historic. With record-setting floods and maximum sustained winds, these storms are a reminder that we need to stay prepared, and remain alert once an event is forecasted. 

Hurricane Maria: Atlantic hurricane season living up to its expectations

Hurricane Maria devastation, courtesy of the Wall Street Journal

Hurricane Maria barreled into Puerto Rico on Wednesday as a Category 4 hurricane and was the most powerful storm the island has seen in nearly a century. Earlier in the week, Maria hit the Caribbean island of Dominica as a Category 5 hurricane. Maria is the fourth major hurricane (Category 3 or more) this season and on track with NOAA’s predictions. While four major hurricanes should not come as a surprise, what has been surprising is how close together they have occurred. Maria comes on the heels of Harvey, Irma, and Jose, making it imperative that insurers work to stay ahead of these events and be prepared in a time of extreme weather uncertainty.

Hurricane Irma: Where to go for the best information

Just weeks after Hurricane Harvey devastated much of Texas and Louisiana, causing record-breaking floods and rampant destruction, we’re already preparing for Hurricane Irma. The storm is projected to make landfall in Florida this weekend as at least a Category 4 hurricane. Based on wind speed, Irma is among the strongest Atlantic hurricanes on record. And, with severe damages in the Caribbean already, Irma will be one to watch very closely. In a time of chaos and uncertainty, we must all work together—insurance carriers, commercial providers, government, and scientists alike—to share as much information as we can to protect policyholders and portfolios. With this in mind, we’ve created a list of SpatialKey-specific resources as well as our top external resources:

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.

Are you prepared to look hurricane season in the eye?

Satellite image of Tropical Storm Cindy, courtesy of hattyphoto

With an above-average 11 to 17 named storms predicted this hurricane season, members of the P&C insurance industry need to be fully equipped to weather the storms. We know it only takes one bad storm to impact a nation’s economy for months, even years. Hurricane Matthew (2016) was the first hurricane to reach Category 5 since 2007, causing $10 billion worth of damage in the U.S. and displacing thousands. Not only that, it was the 13th billion-dollar weather disaster in the U.S. last year.

Popular Posts