The 2005 storm season should not have been the surprise it was to the insurance industry, according to a leading securities firm analysis.
David Small, an analyst at Bear Stearns in New York, said that scientists have been discussing storm frequency and severity increases for quite some time now, while modelers have produced scenarios giving fairly accurate insight to potential losses from large storms.
This input from modelers and scientists, he said, has been highlighted during a series of conference calls he has held over the past several weeks, including one yesterday with AIR Worldwide modeler Frank Fischer.
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