Catastrophe Risks

Updated Hurricane Forecast Projects High Chance of Serious Storms

August 25, 2022

AccuWeather has joined other forecasters in tempering its 2022 Atlantic hurricane season prediction, though its latest update still projects an active season with a high chance for significant storms making landfall on the US mainland. The forecaster now expects 16 named storms this season, including 6 to 8 hurricanes. Read More

First-Half Catastrophes Underscore Climate Change, Increased Exposures

August 24, 2022

Examining catastrophe losses during the first half of 2022, the world's two largest reinsurers both pointed to the growing influence of climate change, in addition to exposure growth in vulnerable areas and rates of insurance penetration in some of the most exposed regions of the world. Read More

Forecasters Continue To Predict Above-Average 2022 Hurricane Season

August 5, 2022

In their most recent updates to their 2022 Atlantic hurricane season forecasts, the US National Oceanic and Atmospheric Administration and researchers from Colorado State University continued to predict an above-average season. In the updates, both groups decreased their predictions for this year's hurricane season slightly. Read More

CCRIF Member Countries Renew Coverage for 2022–2023 Policy Year

August 4, 2022

CCRIF SPC member governments have renewed their parametric insurance coverage for tropical cyclones, excess rainfall, earthquakes, and the fisheries sector for the 2022–2023 policy year. Members ceded more than $1.2 billion in coverage—an increase of 10 percent over the previous policy year—for earthquake, tropical cyclone, and excess rainfall policies. Read More

Year's First Half Saw Numerous Disasters, Above-Average Insured Losses

July 27, 2022

The first half of 2022 saw large-scale disasters on nearly every continent that produced above-average insured losses, according to a new report from Aon. While the year's first 6 months saw numerous significant disasters, global economic losses from natural disasters during the period were below the 21st-century average. Read More