Estimated insured losses from natural catastrophes during the first half of 2021 reached $40 billion, according to the Swiss Re Institute. It was the second-highest first-half insured natural catastrophe loss on record, following 2011, Swiss Re said. Man-made disasters were responsible for another $2 billion in insured losses.
Researchers at Colorado State University have provided their latest update to their 2021 Atlantic hurricane season forecast, decreasing their forecast slightly. The updated forecast still calls for a slightly above-average 2021 season. The new forecast predicts 18 named storms this year, including 7 hurricanes.
The US National Oceanic and Atmospheric Administration (NOAA) has issued an updated 2021 Atlantic hurricane season forecast, calling for 15 to 21 named storms, including 7 to 10 hurricanes. NOAA's latest forecast said 3 to 5 of those storms could become major hurricanes of Category 3 or greater.
As businesses continue to recover from the impact of the COVID-19 pandemic, the experience has underscored the importance of risk readiness and risk resilience. An Aon survey found that post-pandemic, building a resilient workforce is a top priority, with many companies focusing on operational resilience and retaining key employees.
CCRIF SPC has made its first payouts of the 2021 Atlantic hurricane season following July's Hurricane Elsa. The facility made $2.5 million in payouts to the government of Barbados and $528,512 in payouts to the governments of Haiti, Saint Lucia, and Saint Vincent and the Grenadines.