Catastrophe Risks

Forecasters with the US National Oceanic and Atmospheric Administration (NOAA) are predicting near-normal hurricane activity in the Atlantic Ocean this year. The NOAA forecast calls for 12 to 17 named storms, of which 5 to 9 could become hurricanes, including 1 to 4 major hurricanes of Category 3 or higher. Read More

Researchers at North Carolina State University are predicting a normal Atlantic hurricane season this year, with 11 to 15 named storms forming in the Atlantic basin. The number of named storms predicted is at the higher end of long-term averages but at the lower end of more recent 30-year averages. Read More

The 2023 Atlantic basin hurricane season is expected to see a slightly below-average level of activity, researchers at Colorado State University (CSU) projected in their first 2023 Atlantic hurricane season forecast. The CSU researchers predicted 13 named storms, slightly below the average of 14.4 annually from 1992 to 2020. Read More

CCRIF SPC and CEPREDENAC, Central America's regional risk management agency, have entered into a memorandum of understanding (MOU) intended to facilitate the sharing of knowledge and best practices around addressing natural disasters. CCRIF has MOUs with 14 organizations in the Caribbean. Read More

Natural catastrophes resulted in $275 billion in economic losses worldwide in 2022, of which $125 billion were covered by insurance, according to a new sigma report from the Swiss Re Institute. At the same time, property-catastrophe (re)insurance rates rose to near 20-year highs at January 2023 renewals. Read More