US insurers prepared for rough hurricane year
http://www.intelligentinsurer.com/news/us-insurers-prepared-for-rough-hurricane-year#%2EUa8E4UOv1q4%2Elinkedin
excerpts:
Despite predictions of a rough hurricane season ahead for US insurers, the
sector looks well prepared for such an eventuality according to AM Best,
which notes that the industry's collective balance sheet is hitting record
levels even after Superstorm Sandy.
Some forecasts suggest that 2013 could see three times as many severe
hurricanes make landfall in the US. But a report by AM Best suggests risk
management practices implemented by the insurance industry in recent years
mean it should be able to cope.
During 2012, there were 19 named storms, 10 hurricanes and two major
hurricanes (Category 3 or higher). The general consensus for 2013 seems to
be fewer named storms but an increased number of higher intensity
hurricanes. In 2012, only 20% of hurricanes were Category 3 or higher
whereas 2013 predictions are for 40%-50% of hurricanes to be Category 3 or
higher.
In addition, it noted that many P/C writers are beginning to use data
collected from Sandy to revise underwriting practices and implement numerous
risk management initiatives to address adjustments to catastrophe models.
"There is the potential for increased losses," the rating agency said in a
report. "But regardless of the predictions for catastrophic activity and the
associated uncertainty, the P/C industry continues to engage actively in
risk management, which has been evident over the past several years.
"Despite the volatile catastrophic activity witnessed across the US, there
have been a limited number of rating actions related to single, severe
catastrophes. Conversely, the aggregation of losses from multiple events has
had more of a rating impact.
Gerry
....................................
From: "Jaime Kopchinski" <jaime...@gmail.com>
Looks like they're predicting the same for up here in NJ. National
Weather
Service puts out some good briefings with possible scenarios:
http://www.erh.noaa.gov/okx/FB_Briefings/WxBriefing_FB.pdf
Should be lots of rain in a short period of time, so flooding is always
possible in some places. Storm surge and wind don't look like much to
worry about.
But, it is a bit concerning to have a tropical storm of any kind on this
track so early in the season. Hopefully this isn't going to be come a
trend for the rest of the season.
Jaime
On Thu, Jun 6, 2013 at 11:45 AM, Dan Penoff <d...@penoff.com> wrote:
We are in the thick of it right now.
Torrential rain, a little wind, but nothing of real significance. Much
ado about nothing, IMHO.
I rushed out last night to cut my grass, as with the rather heavy daily
rain we have had for almost a week it has grown rather tall. I feared if
I
waited until this weekend my mighty Honda walk behind would not have cut
it, literally and figuratively.
Dan
Sent from my iPad
On Jun 6, 2013, at 10:05 AM, Max <meadedil...@bellsouth.net> wrote:
> Yes, the weather guessers are breathless with anticipation. Our
> weather
alert radio sounded the alarm promptly at 0600 this morning, woke up the
whole house. The weather app on my smartphone reminds me every fifteen
minutes about flooding and the tropical storm approaching. If you don't
hear from me again, Andrea must have washed us out to sea....
> --
> Max Dillon
> Charleston, SC
> '95 E300, '87 300TD, '73 Balboa 20
>
> Rich Thomas <richthomas79td...@constructivity.net> wrote:
>
>> if you live near the coast, looks like Andrea is paying a visit!
>>
>>
>>
http://www.nhc.noaa.gov/refresh/graphics_at1+shtml/090936.shtml?5-daynl#contents
>>
>> And a new moon high tide to go with it.
>>
>> --R
>>
>>
>> _______________________________________
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>
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_______________________________________
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--
Jaime Kopchinski
http://www.jaimekop.com/
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