Archive for the ‘Property’ Category



September 2nd, 2010

Update: Typhoon Kompasu

Posted at 12:21 PM ET

kompasu2-smallTyphoon Kompasu made landfall near the North/South Korean border at around 23:00 UTC on September 1 (07:00 local time on September 2) as a weak category 1 typhoon with maximum sustained winds of around 75 mph (120 kmph), according to reports. In the 24 hours before landfall, the Joint Typhoon Warning Center (JTWC) said Kompasu weakened from a category 3 typhoon to a weak category 1 typhoon. Kompasu came ashore about 40 miles (70 kilometers) west of South Korea’s capital of Seoul (population of around 10 million people), bringing gale-force winds and heavy rain to the city and wider region. Reports said Kompasu was the strongest storm to hit the Seoul area for 15 years.

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September 2nd, 2010

Tropical Storm Gaston

Posted at 10:32 AM ET

gaston-smallTropical Storm Gaston, the seventh named storm of the 2010 Atlantic hurricane season, developed at 21:00 UTC on September 1 and is currently located approximately 965 miles (1,550 kilometers) west of the Cape Verde Islands, according to the National Hurricane Center (NHC). Gaston packs sustained winds of around 40 mph (65 kmph). Gaston is traveling in a westerly direction and this general motion is expected to continue for the next 24 to 48 hours as the storm gradually strengthens. The NHC said tropical storm-force winds extend 70 miles (110 kilometers) from the center of the storm. Gaston is the fourth named storm to develop in the North Atlantic basin in the last eleven days.

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September 2nd, 2010

Update: Hurricane Earl

Posted at 9:37 AM ET

earl-thurs-smallEarl has re-intensified into a category four hurricane, with the center of the storm presently located around 410 miles (660 kilometers) south of Cape Hatteras in North Carolina and 870 miles (1,400 kilometers) south-southwest of Nantucket in Massachusetts, according to the National Hurricane Center (NHC). Earl is currently packing sustained winds of 145 mph (230 kmph) and is moving towards the north-northwest at around 18 mph (30 kmph). A turn to the north is expected later today and Earl is then expected to move towards the north-northeast. On this forecast track, the NHC says Earl will pass near the North Carolina Outer Bank tonight and approach southeastern New England on Friday (September 3)as it tracks parallel to the US east coast. At present, hurricane-force winds extend up to 90 miles (150 kilometers)from the center of the storm while tropical storm winds extend up to 230 miles (370 kilometers).

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September 2nd, 2010

Mid-Hurricane Season Review

Posted at 1:00 AM ET

As the U.S. 2010 hurricane season reaches its midpoint, we present links to all GCCapitalIdeas stories that appeared covering U.S. hurricanes and tropical storms.

Tropical Storm Fiona:  Close on the heels of Hurricane Earl, Tropical Storm Fiona formed at 21:00 UTC on August 30 and is currently located approximately 440 miles (705 kilometers) east of the Leeward Islands, according to the National Hurricane Center (NHC). Fiona packs sustained winds of around 40 mph (65 kmph). The storm is traveling in a west-northwest direction and is expected to move toward the northwest with a decrease in forward speed during the next day or so. This track would take Fiona northeast of the Leeward Islands on early Wednesday. The NHC has reported tropical storm-force winds extending 140 miles (220 kilometers) northeast from the center.

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Update: Hurricane Earl:    Earl remains a category three hurricane on the Saffir-Simpson scale, according to the National Hurricane Center (NHC), with the center of the storm presently located around 170 miles (270 kilometers) east-northeast of San Salvador and around 725 miles (1,170 kilometers) south-southeast of Cape Hatteras in North Carolina. Earl is currently packing sustained winds of 125 mph (205 kmph) and is moving towards the northwest at around 17 mph (28 kmph). The NHC reports that this general motion is set to continue today, with the storm making a gradual turn to the north-northwest thereafter. According to the NHC, the center of Earl is forecast to track well east and northeast of the Bahamas today and tonight, and will approach the North Carolina coast by late Thursday ( September 2). At present, hurricane-force winds extend outward up to 90 miles (150 kilometers) and tropical storm winds extend outward up to 200 miles (325 kilometers) from the center of the storm.

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Update: Hurricane Danielle:    Hurricane Danielle, the strongest hurricane of the 2010 Atlantic hurricane season, strengthened to a Category Four storm today. According to the National Hurricane Center (NHC), the storm is currently located approximately 480 miles (770 kilometers) southeast of Bermuda. Danielle is moving in a north-westerly direction with maximum sustained winds of around 135 mph (215 kmph). The storm is predicted to turn toward the north on Saturday, with the center of the hurricane passing well east of Bermuda on Saturday night. According to the NHC, some additional strengthening is possible in the next 24 hours. Hurricane-force winds have been reported up to 60 miles (95 kilometers) from the center of the storm while tropical storm-force winds extend 205 miles (335 kilometers) from the center.

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Tropical Storm Colin:   Tropical Storm Colin, the third named storm of the 2010 Atlantic hurricane season, developed at 09:00 UTC today and is currently located approximately 945 miles (1,525 kilometers) east of the Lesser Antilles, according to the National Hurricane Center (NHC). Colin packs sustained winds of around 40 mph (65 kmph). The storm is traveling in a west-northwest direction and this general motion is expected to continue for the next 24 to 48 hours as the storm slightly strengthens. The NHC said tropical storm-force winds extend 35 miles (55 kilometers) from the center of the storm.

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Tropical Storm Bonnie:   Tropical Storm Bonnie, the second named storm of the 2010 Atlantic hurricane season, developed on July 22 and is currently located approximately 155 miles (250 kilometers) southeast of Miami in Florida, according to the National Hurricane Center (NHC). Bonnie packs sustained winds of around 40 mph (65 kmph). The storm is traveling in a west-northwest direction and this general motion is expected to continue for the next 24 hours as the storm slightly strengthens. The NHC said tropical storm-force winds extend 85 miles (150 kilometers) from the center of the storm.

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Update: Hurricane Alex:   Hurricane Alex made landfall near Soto La Marina and La Pesca in Mexico’s Tamaulipas State at around 02:00 UTC on July 1 (22:00 on June 30 local time) with sustained winds of around 105 mph (165 kmph), equivalent to a category 2 hurricane, according to the National Hurricane Center (NHC). The NHC said Alex was the first hurricane to reach category 2 status in June in the Atlantic since Hurricane Alma in 1966. At landfall, the NHC said hurricane-force winds extended 70 miles (110 kilometers) from the center of the storm while tropical storm-force winds extended 205 miles (335 kilometers), the NHC said. Early estimates of insured losses suggest the insurance industry could payout between USD100 million and USD200 million for the damage caused by Alex.

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2010 Hurricane Season Begins:  Knowing, Understanding and Better Managing the Risks:  The 2010 hurricane season kicked-off on June 1 and the meteorological forces wasted no time in getting down to business. Tropical storm Agatha slammed into Central America, killing at least 101 people. The hurricane season kick-off and the storm occurred as backdrops to the wrap up of the June 1, 2010 reinsurance renewals, traditionally centered on the Florida property marketplace.

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September 1st, 2010

Update: Hurricane Earl

Posted at 5:39 PM ET

earl-wed-6pm-smallEarl remains a category three hurricane on the Saffir-Simpson scale, according to the National Hurricane Center (NHC), with the center of the storm presently located around 170 miles (270 kilometers) east-northeast of San Salvador and around 725 miles (1,170 kilometers) south-southeast of Cape Hatteras in North Carolina. Earl is currently packing sustained winds of 125 mph (205 kmph) and is moving towards the northwest at around 17 mph (28 kmph). The NHC reports that this general motion is set to continue today, with the storm making a gradual turn to the north-northwest thereafter. According to the NHC, the center of Earl is forecast to track well east and northeast of the Bahamas today and tonight, and will approach the North Carolina coast by late Thursday ( September 2). At present, hurricane-force winds extend outward up to 90 miles (150 kilometers) and tropical storm winds extend outward up to 200 miles (325 kilometers) from the center of the storm.

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September 1st, 2010

Typhoon Kompasu

Posted at 12:07 PM ET

kompasu-smallTyphoon Kompasu, the seventh tropical cyclone in the region this year, is presently located around 242 miles (389 kilometers) to the south southwest of Seoul, South Korea, according to a recent update from the Joint Typhoon Warning Centre (JTWC). According to the JTWC, Kompasu is now a category one typhoon and has tracked northward at a forward speed of 23 mph (37 kmph) over the past 6 hours. The typhoon currently packs sustained winds of 92 mph (148 kmph).

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September 1st, 2010

Update: Hurricane Earl

Posted at 10:59 AM ET

earl-wed-smallEarl is now a category three hurricane on the Saffir-Simpson scale, according to the National Hurricane Center (NHC), with the center of the storm presently located around 175 miles (280 kilometers) north of Grand Turk Island and around 815 miles (1315 kilometers) south-southeast of Cape Hatteras in North Carolina.

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September 1st, 2010

Global Warming Does Not Lead to More Typhoons

Posted at 1:00 AM ET

Johnny Chan, Dean, School of Energy and Environment, and Director, Guy Carpenter Asia-Pacific Climate Impact Centre City University of Hong Kong
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Introduction

Particularly since the devastation of New Orleans caused by Hurricane Katrina in 2005, many people believe that global warming could lead to more frequent occurrences of intense hurricanes like Katrina. This conclusion seems to be intuitively obvious. Global warming not only leads to increases in air temperature, but the ocean temperatures will rise as well. A warmer ocean will cause more evaporation of ocean water into the atmosphere. The energy that is absorbed by the water molecules going into the atmosphere will subsequently be released through condensation of the water vapor. Because tropical cyclones (called typhoons in Asia and hurricanes in the Atlantic) are huge cloud systems over the ocean, more evaporation, and subsequently more condensation, means that more energy is available for the tropical cyclones to develop. Thus, it seems obvious that under a global warming scenario, not only should the frequency of occurrence of tropical cyclones increase, but they should also become more intense.

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September 1st, 2010

Tropical Storm Fiona

Posted at 12:30 AM ET

fiona-smallClose on the heels of Hurricane Earl, Tropical Storm Fiona formed at 21:00 UTC on August 30 and is currently located approximately 440 miles (705 kilometers) east of the Leeward Islands, according to the National Hurricane Center (NHC). Fiona packs sustained winds of around 40 mph (65 kmph). The storm is traveling in a west-northwest direction and is expected to move toward the northwest with a decrease in forward speed during the next day or so. This track would take Fiona northeast of the Leeward Islands on early Wednesday. The NHC has reported tropical storm-force winds extending 140 miles (220 kilometers) northeast from the center.

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August 31st, 2010

Update: Hurricane Earl

Posted at 9:37 AM ET

earl-tues-smallHurricane Earl has strengthened to category 4 on the Saffir-Simpson hurricane wind scale. According to the National Hurricane Center (NHC), the center of Earl is located around 150 miles (240 kilometers) north north-west of San Juan Puerto Rico and around 290 miles (470 kilometers) east south-east of Grand Turk Island.

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