Catastrophe Risks
Length of Business Interruptions Will Influence Hurricane Fiona Losses
Insured losses from Hurricane Fiona in Puerto Rico and the Dominican Republic should be manageable for affected insurers but will be influenced by the duration of business interruptions due to power losses, according to A.M. Best. Read More
Updated Hurricane Forecast Projects High Chance of Serious Storms
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
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
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
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