Catastrophe Risks

North Carolina State Researchers Predict Normal Hurricane Season

April 27, 2023

Researchers at North Carolina State University are predicting a normal Atlantic hurricane season this year, with 11 to 15 named storms forming in the Atlantic basin. The number of named storms predicted is at the higher end of long-term averages but at the lower end of more recent 30-year averages. Read More

Forecasters Project Slightly Below-Average 2023 Hurricane Season

April 14, 2023

The 2023 Atlantic basin hurricane season is expected to see a slightly below-average level of activity, researchers at Colorado State University (CSU) projected in their first 2023 Atlantic hurricane season forecast. The CSU researchers predicted 13 named storms, slightly below the average of 14.4 annually from 1992 to 2020. Read More

CCRIF Enters Pact with Central American Risk Management Agency

April 6, 2023

CCRIF SPC and CEPREDENAC, Central America's regional risk management agency, have entered into a memorandum of understanding (MOU) intended to facilitate the sharing of knowledge and best practices around addressing natural disasters. CCRIF has MOUs with 14 organizations in the Caribbean. Read More

Natural Catastrophes Just One Factor Fueling Hard Insurance Market

March 27, 2023

Natural catastrophes resulted in $275 billion in economic losses worldwide in 2022, of which $125 billion were covered by insurance, according to a new sigma report from the Swiss Re Institute. At the same time, property-catastrophe (re)insurance rates rose to near 20-year highs at January 2023 renewals. Read More

2022 Added to 6-Year Trend of Unprecedented Catastrophe Losses

March 8, 2023

The notion of "it only takes one" to create a costly catastrophe year for the insurance industry was highlighted once again in 2022 by September's Hurricane Ian, a new report from Moody's RMS notes. With insured losses of up to $74 billion, the storm turned a potentially mild hurricane season into a costly one. Read More