Estimated Insured Loss
DateHurricane(in 2003 Dollars)
Source: Insurance Information Institute
In early August, the National Oceanic and Atmospheric Administration published a revised forecast for the 2004 Atlantic hurricane season, indicating a 45 percent probability of above-normal activity. That figure is down from the administration’s March forecast of 50 percent. Although considerable tropical storm and hurricane activity still is expected, the possibility of weak El Ni?o conditions during the next couple of months slightly reduces the probability of an above-normal season, according to NOAA. The revised outlook calls for 12 to 15 tropical storms, with 6 to 8 becoming hurricanes, and 2 to 4 of these becoming major hurricanes.