October 1st, 2009

Typhoon Parma

Posted at 1:05 PM ET

small-typhoon-parmaSuper Typhoon Parma is located approximately 510 miles (820 kilometers) east of Manila in the Philippines and is tracking northwest, according to the Joint Typhoon Warning Center (JTWC). Parma is currently a Category 4 typhoon and is moving at 14 mph (22 kmph) with sustained winds of around 138 mph (222 kmph).Parma has undergone a period of rapid intensification over the last 24 hours to reach super typhoon status. Parma is expected to continue to track northwest over the next 24 hours and this motion is likely to take it towards the northeast tip of Luzon in the Philippines. Although there is significant uncertainty in both the forecast track and intensity of Parma, current forecasts indicate the storm is expected to make landfall in the northern province of Cagayan in Luzon as a Category 4 typhoon on October 3, 2009.

Typhoon Parma’s threat to the Philippines comes on the heels of Typhoon Ketsana, which made landfall in the Philippines on September 26, 2009 and triggered devastating floods in central and northern Luzon. Ketsana affected around 3 million people in the Philippines and forced 675,000 people to evacuate their homes. A total of 380 people dead across Southeast Asia as Ketsana moved into Vietnam and Cambodia. Although Parma’s projected landfall point in the Philippines is forecast to be further north than those areas most affected by Ketsana’s flooding, authorities in the country have ordered troops to evacuate coastal and low-lying areas as well as landslide-prone areas.

typhoon-parma

Hazard data illustrated in the CAT-i map was taken from i-aXs®, Guy Carpenter’s web-based risk management platform. i-aXs users can view impacted areas on any map as well as see how their portfolios were affected. Please contact your broker or Instrat® representative for assistance or go to www.i-axs.info for further information.

Sources: Joint Typhoon Warning Center, WSI, Agence France Presse, Reuters News

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Guy Carpenter’s Instrat® department provides CAT-i reports for major natural catastrophes worldwide. These reports cover catastrophes including worldwide tropical cyclones, earthquakes, major UK and European floods and any other natural event that is likely to incur a significant loss to the (re)insurance industry. Please email CAT.i@guycarp.com if you wish to be added to the free email distribution list.

Instrat also provides RISK-i reports for major technological or man-made events worldwide. These reports cover risks to property, transport and life including explosions, fires, crashes, engineering disasters and terrorist attacks that are likely to incur a significant loss to the (re)insurance industry. Please email RISK.i@guycarp.com if you wish to be added to the free email distribution list.

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