Catastrophe Risks

Following 2020's record-breaking hurricane season, US property and casualty (P&C) (re)insurers are bracing for potential large losses from another above-average hurricane season, according to a Fitch Ratings report. Natural catastrophes—particularly hurricanes—are a major source of underwriting volatility for the P&C insurance industry, Fitch said. Read More

More than a year into the pandemic, COVID-19 remains a dominant factor in the global economic outlook. While data on vaccination rates and the decline in confirmed cases suggest that there is a clear, bright light at the end of the COVID tunnel, it is important that we remain vigilant. Read More

The National Oceanic and Atmospheric Administration (NOAA) has joined other forecasters in predicting another above-normal Atlantic hurricane season this year. NOAA projects a likely range of 13–20 named storms this year, of which 6–10 could become hurricanes, including 3–5 major hurricanes. Read More

Major US flood events could grow over the next 30 years, even as insurers and public policymakers improve their ability to reduce flood risks, according to a new paper from the Insurance Information Institute. Despite government efforts, the current approach to flood risk is insufficient, according to the paper. Read More

Another group of forecasters envisions an active 2021 Atlantic hurricane season, with researchers from North Carolina State University predicting 15 to 18 named storms. Of the named storms predicted, seven to nine may grow to hurricanes, the North Carolina State researchers said, versus the average number of six. Read More