Posts Tagged ‘Hurricanes’



February 5th, 2019

Environmental Disasters Leading to Increased Disruption to Supply-Chains

Posted at 1:00 AM ET

extreme-weather-2As environmental risks crystallize with increasing frequency and severity, the impact on global value chains is likely to intensify, weakening overall resilience, according to Global Risks Report 2019, which was produced by the World Economic Forum with the support of Guy Carpenter’s parent company, Marsh & McLennan Companies. Continue reading…

December 26th, 2018

GC Capital Ideas: CAT-i Stories: Fourth Quarter 2018

Posted at 1:00 AM ET

Here is a look back at the CAT-i articles from October 1 through December.

Mw 7.0 Earthquake – Near Anchorage, Alaska: The magnitude (Mw) 7.0 earthquake near Anchorage, Alaska, on November 30 occurred at a depth of 44.1 km as the result of a slip on an intraslab fault within the subducting Pacific slab. According to the United States Geological Survey, the faulting involved a moderately dipping fault striking north-south, below the shallower thrust-faulting interface between the Pacific Plate and the North America Plate. A tsunami warning was issued but later lifted by the U.S. National Weather Service. Damage was reported to buildings, including interior damage and some cracked foundations with some building collapses.

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California Wildfire Activity: November Wildfire activity in California rendered especially severe impacts in Northern and Southern California, including areas of Butte, Los Angeles and Ventura Counties.  Rates of extreme fire spread were enabled by especially dry, windy conditions on November 8 and the days following. Aggressive firefighting efforts allowed containment efforts to progress despite adverse conditions. Camp, Woolsey and Hill Fires burned an estimated 20,297 structures since November 8, including at least 13,972 residential structures from the Camp Fire alone, according to Cal Fire statistics (as reported in the CAT-i on November 29). These fires have also claimed at least 91 lives. Media reports indicate estimated insured losses for the Camp and Woolsey Fires of around USD 9-13 billion as reported by RMS.

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Hurricane Michael: Hurricane Michael, the strongest hurricane to affect the Continental U.S. since Hurricane Andrew in 1992, made landfall on October 10 as a high-end Category-4 hurricane on the Florida Panhandle, with maximum sustained winds of 155 mph. The storm rendered severe to complete damage to areas from Panama City to Port Saint Joe, with especially severe damage in Mexico Beach due to severe wind and storm surge. Wind caused roof and wall collapse, especially for cinderblock construction and even commercial properties. Some coastal areas of Mexico Beach were scoured to the foundation by storm surge and wave battering. At least 12 fatalities were reported by media by the time the CAT-i was released.

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Super Typhoon Trami: In the West-Pacific Basin, Typhoon Trami made landfall in the city of Tanabe, Japan (Wakayama prefecture) on 30 September, according to media reports. Before reaching Honshu, the typhoon had rendered considerable impacts while making close approach to Okinawa, Kyūshū and Shikoku Islands. Trami brought significant flood impacts as a result of heavy rainfall and storm surge, as well as variable property damage due to wind. Significant power outages and transportation disruption were reported by media. Over 4.3 million people were given evacuation orders or advisories. Media reports indicated at least four fatalities and 120 injured.

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October 13th, 2018

Hurricane Michael

Posted at 11:11 AM ET

michael_smallHurricane Michael made landfall on October 10 as a high-end Category-4 hurricane on the Florida Panhandle, with maximum sustained winds of 155 mph. The storm rendered severe to complete damage to areas from Panama City to Port Saint Joe, with especially severe damage in Mexico Beach due to severe wind and storm surge. Damage due to wind has caused roof and wall collapse, especially for cinderblock construction and even commercial properties. Some coastal areas of Mexico Beach have been scoured to the foundation by storm surge and wave battering. At least twelve fatalities have been reported by media, although this number could rise as damage survey and search and rescue efforts continue. Our thoughts and concerns are with those lost and directly affected by this event. Hurricane Michael is the strongest hurricane to affect the Continental U.S. since Hurricane Andrew (1992).

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September 18th, 2018

Hurricane Florence

Posted at 4:06 PM ET

florence-2-smallHurricane Florence made landfall near Wrightsville Beach, North Carolina at 7:15 AM EDT (1115 UTC) September 14, according to the National Hurricane Center (NHC). Maximum sustained winds at landfall were 90 mph, a strong category-one hurricane on the Saffir-Simpson Scale. The storm slowed considerably at landfall causing prolonged exposure of affected areas to damaging wind gusts and significant rainfall. Significant flooding has been reported for areas of the Carolinas and Mid-Atlantic, with greatest severity in areas of eastern North Carolina. The storm has since weakened to a tropical depression while moving into the Ohio Valley. Florence should move through Pennsylvania and New England over the next day or so with an increase in forward speed, and the flood threat persists in the meantime. Downed trees and power lines along with variable property damage have been reported along with significant to catastrophic flooding; the most severely affected areas are in eastern North Carolina. Media reports indicate at least 25 fatalities, and our thoughts and concerns are with those lost and directly affected by this event.

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September 13th, 2018

Managing Catastrophe Model Change

Posted at 1:00 AM ET

powers_imelda_71x88Imelda Powers, Senior Cat Management Advisor, Asia Pacific, Global Strategic Advisory

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Incorporating new hazard and claims insights can improve the estimates derived from catastrophe models. By re-analyzing historical events using the latest scientific methods or refining claims with more granular geographical and line of business breakdowns, we can update models with the latest expertise and data. But model changes that yield large swings in loss estimates for frequent events must be carefully scrutinized to understand assumptions and processes in order to truly support ownership of risk. Continue reading…

June 26th, 2018

North Atlantic Hurricane Season for 2018 – Near Normal But With Uncertainty

Posted at 1:00 AM ET

james-wallerJames Waller, PhD, Research Meteorologist

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With the 2018 North Atlantic hurricane season having commenced on June 1, seasonal outlook providers on both sides of the Atlantic continue to issue predictions. As with any hurricane season, each outlook provider emphasizes the need for proper preparation, since impactful hurricanes have been known to make landfall even during quiet years.

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May 31st, 2018

The 2017 Hurricane Season Was Among the Top-Ten-Most-Active, But Was Not Entirely Unprecedented

Posted at 1:00 AM ET

As the 2018 hurricane season approaches, we take a look back at the 2017 season. It was among the top-ten most-active seasons in recorded history since 1900 for the North Atlantic Basin.

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May 14th, 2018

The 2017 Hurricane Season Was Among the Top-Ten-Most-Active, But Was Not Entirely Unprecedented

Posted at 1:00 AM ET

As the 2018 hurricane season approaches, we take a look back at the 2017 season. It was among the top-ten most-active seasons in recorded history since 1900 for the North Atlantic Basin.

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May 3rd, 2018

2018 North Atlantic Hurricane Season; Part II

Posted at 1:00 AM ET

james-wallerJames Waller, PhD, Research Meteorologist

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Atlantic Sea-Surface Temperatures (SSTs)

Observed SSTs have been cooler than average for areas of the far northern and eastern Atlantic, as well as areas of the Gulf of Mexico. Meanwhile, some areas of the western Atlantic have been trending warmer than average. The pattern could well change over the coming months, but with all else being equal this indicates the potential for near-normal activity in the basin, and some potential for development of tropical storms or hurricanes adjacent to the mainland. Seasonal outlook providers have variable views on the influence for 2018 hurricane activity.

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