Catastrophe Risks

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 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

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

In the latest update to their 2022 Atlantic hurricane season forecast, researchers from Colorado State University continue to predict a well above average hurricane season. The forecast is largely unchanged from the June Colorado State update, calling for 20 named storms with 10 hurricanes, including 5 major hurricanes. Read More

Cyber attacks targeting critical infrastructure like utilities or financial services could result in catastrophic financial losses that cyber insurance and the federal Terrorism Risk Insurance Program (TRIP) might be unable to cover, according to a new report from the US Government Accountability Office. Read More