Climate change could significantly increase Caribbean hurricane risk and raise annual expected losses by another 1 to 3 percent of GDP for some Caribbean countries by 2030, according to a new study.

The second named storm of the Atlantic Hurricane Season is expected to graze southern Florida before making landfall in Louisiana/Mississippi Sunday, according to catastrophe modeler Risk Management Services.

Weather Services International (WSI) is now calling for 19 named storms, slightly downgrading its initial predictions in response to a slow start to the 2010 hurricane season.

The number of meteorological catastrophe-driven events is increasing, causing more losses internationally, but insurers have proven themselves financially capable of handling those losses, according to experts.