Hurricane Barry made landfall near Morgan City, Louisiana on July 13, briefly reaching hurricane status while moving ashore. The storm has since weakened and its remnants have moved into the Lower Great Lakes area. The slow forward motion of the storm has rendered widespread flooding and localized significant flooding in Louisiana, Mississippi and Arkansas. Wind impacts have ... Continue Reading »
hurricane
Barry Decays, Yet Remains Major Inland Flood Threat
After Barry's brief time as a hurricane on Saturday during landfall on the central Louisiana coast, the hurricane weakened rapidly on Sunday but still remains a formidable inland flood threat. The combination of slow movement and continued flow off the Gulf of Mexico is resulting in widespread inland flooding across Louisiana, Arkansas, Mississippi, western Tennessee and ... Continue Reading »
Barry Upgraded to Hurricane Status While Moving Ashore
According to advisories of the National Hurricane Center (NHC), Tropical Storm Barry was upgraded to hurricane status while moving ashore about 40 miles south of Slidell, Louisiana at 11AM EDT Saturday. The storm has since been downgraded by the NHC to tropical storm status as it continues to move inland. Impacts due to flooding and wind have already been reported in affected ... Continue Reading »
Tropical Storm Barry
The northern Gulf disturbance was upgraded this morning to Tropical Storm Barry, and sits about 90 miles from the mouth of the Mississippi River. The storm is expected to move very slowly to the north and west over the coming days, to move ashore in Louisiana as a hurricane sometime early Saturday. There remains considerable uncertainty on track and especially intensity. ... Continue Reading »
Potential Hurricane Threat – U.S. Northern Gulf
There is an escalating threat for hurricane landfall on the U.S. Northern Gulf Coast over the coming days, from a disturbance now located offshore of the Florida Panhandle. There remains considerable uncertainty in forecast specifics, but landfall on the Louisiana or perhaps the Texas coast appears most probable given current model guidance. The threat of landfall with ... Continue Reading »
Environmental Disasters Leading to Increased Disruption to Supply-Chains
As 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 »
Managing Catastrophe Model Change
Imelda Powers, Senior Cat Management Advisor, Asia Pacific, Global Strategic Advisory Contact 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 ... Continue Reading »
The 2017 Hurricane Season Was Among the Top-Ten-Most-Active, But Was Not Entirely Unprecedented
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. ... Continue Reading »
Flood Insurance: The 2018 Market Opportunity – GC@PCI Commentary
Jonathan Hayes, Managing Director and John Kulik, Senior Vice President Contact The U.S. insurance industry is actively seeking new opportunities for growth in a challenging market by identifying untapped customer needs. The potential flood market is over five times the size of the most often mentioned new market, cyber insurance Greater access to flood data and loss results ... Continue Reading »
Reinsurance Market Poised to Remain Vibrant Following Recent Catastrophe Events – GC@PCI Commentary
David Priebe, Vice Chairman Contact The recent series of catastrophic events - earthquakes in Mexico, Hurricanes Harvey, Irma and Maria - is reminding cedents that reinsurance is one of the most effective ways to protect corporate capital bases Harvey on its own is likely an earnings event that will probably not require an increase of industry capital; the addition of the ... Continue Reading »
