Catastrophe Risks
CCRIF SPC Making $40 Million Earthquake Payout to Haiti
CCRIF SPC will make an approximately $40 million payout to the government of Haiti following the 7.2 magnitude earthquake that struck Haiti on August 14. A CCRIF statement said the payout represents the full coverage limit under Haiti's parametric insurance policy for earthquake for the 2021–2022 policy year. Read More
Swiss Re Sets First-Half Catastrophe Insured Losses at $40 Billion
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. Read More
Colorado State Researchers Decrease Hurricane Forecast Slightly
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. Read More
NOAA Increases Likely Named Storm Total in Updated 2021 Forecast
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. Read More
CCRIF SPC Makes Its First 2021 Atlantic Hurricane Season Payouts
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. Read More