August 31st, 2011

Typhoon Nanmadol

Posted at 12:12 PM ET

nanmadol-smallTyphoon Nanmadol developed on August 22 to the east of the Philippines and rapidly intensified to become the fourth typhoon of the West Pacific typhoon season. The storm went on to make landfall in the Philippines, Taiwan and China, causing widespread damage and disruption in each country. At least 26 people were killed in the Philippines and Taiwan and early estimates suggest insured losses from the event could be in the hundreds of millions of dollars.

The Philippines was badly hit by Typhoon Nanmadol as the storm moved along its northeastern coast with sustained winds of up to 154 mph (250 kmph), according to the Joint Typhoon Warning Center (JTWC). Nanmadol was a category 4 typhoon when it made landfall in the Philippine province of Cagayan on August 26. Much of northern Luzon Island was hit by tropical storm conditions when the typhoon came ashore. Reports said Nanmadol’s powerful winds caused widespread damage in the region. The storm’s heavy rain also triggered flooding and landslides. According to the National Disaster Risk Reduction and Management Council (NDRRMC), more than 300,000 people were affected by the storm in the Philippines and around 1,300 homes were damaged or destroyed. Widespread power cuts were reported and the initial cost of damage to agriculture and infrastructure currently stands at 1.1 billion pesos (USD26 million.) According to EQECAT, insured losses in the Philippines are expected to be less than USD200 million.

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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 GC Analytics (SM) representative for assistance or go to www.i-axs.info for further information.

Nanmadol weakened as it moved over the Philippines and the storm had been downgraded to a category 1 typhoon by the time it made its second landfall in southern Taiwan. According to the JTWC, Nanmadol’s sustained winds were approximately 80 mph (130 kmph) when it came ashore in Taiwan’s southern county of Taitung on August 28. Tropical storm conditions hit parts of southern and central Taiwan and reports said around 40,000 households lost power. Some 8,000 people were evacuated from vulnerable areas and up to 40 inches (1,000 millimeters) of rainfall fell in mountainous areas, causing extensive flooding. For Taiwan, EQECAT estimates insured losses from Nanmadol to be between USD200 million and USD500 million.

Nanmadol weakened further as it crossed Taiwan and by the time the storm had exited Tainan County it was a tropical storm. Nanmadol continued to weaken as it moved over the South China Sea and became a tropical depression as it made its third landfall in China’s Fujian Province. Reports said Nanmadol’s strong winds and heavy rain caused damage and disruption in the province. Officials said more than 700 homes were destroyed or damage and the economic costs from the storm are estimated to be 44 million yuan (USD7 million). Insured losses in China are not expected to be large, according to AIR Worldwide.

Separately, Tropical Storm Talas is currently active in the northwest Pacific, moving in a northwesterly direction some 465 miles (750 kilometers) south of Kyoto in Japan. According to the JTWC, Talas currently packs sustained winds of around 60 mph (100 kmph), with tropical storm strength winds extending up to 210 miles (340 kilometers) from the center of the storm. Talas is expected to take a more northerly track over the next 24 hours and forecasts currently anticipate landfall along the southern coast of Honshu on September 2 as a borderline tropical storm/category 1 typhoon. Guy Carpenter is closely monitoring Talas’s progress and will provide an update should significant damage occur in Japan.

Sources: Joint Typhoon Warning Center, WSI, Agence France Presse, Reuters News, Xinhua News Agency, Asia Pulse, Taipei Times, Central News Agency

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Guy Carpenter publishes 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.

Guy Carpenter compiles 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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