With hurricane season beginning on June 1, insurers andinvestors are looking for ways to predict what effect the stormsmight have on the industry.
To help companies estimate the level of losses they might incur,Fitch Ratings released a special report on May 28, titled“Hurricane Season 2015: A Desk Reference for Insurance Investors,”which analyzes the potential effects of a major storm season onlarge insurance companies and the industry as a whole. The reportalso compares forecasts for the 2015 hurricane season from severalmarket experts, including National Oceanic and AtmosphericAdministration (NOAA), Colorado State University (CSU) and TropicalStorm Research (TSR).
The experts are leaning toward a less severe North Atlantichurricane season in 2015. If projections hold true, Florida couldreach 10 consecutive years without a hurricane landfall. The lastnamed storm to make landfall in Florida was Hurricane Wilma on Oct.24, 2005. That year was the most active hurricane season everrecorded, and included Hurricane Katrina and Hurricane Rita amongthe named storms.
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Rosalie Donlon
Rosalie Donlon is the editor in chief of ALM's insurance and tax publications, including NU Property & Casualty magazine and NU PropertyCasualty360.com. You can contact her at [email protected].
