Another 5 years of above-average hurricane landfall rates likely

The average risk of landfalling hurricanes in the Atlantic Basin for the next five years remains at significantly above the risk averaged over the long term, warns Risk Management Solutions (RMS).The current activity rates lead to estimates of average annual insured losses that will be 40% higher than those predicted by the long-term mean of hurricane activity for the Gulf Coast, Florida and the Southeast, an RMS release reports.The risks will be 25% to 30% higher for the mid-Atlantic and Northeast coastal regions, RMS added.Although U.S. hurricane-related losses have been low since 2004 and 2005, it was apparent from the views expressed among the experts that we are still in a period of elevated hurricane activity that started in 1995, and that is likely to continue for at least several more years, Claire Souch, senior director of model management for RMS, said in a statement.The 2007 hurricane season has seen 14 named storms, close to the annual average of 14.7 since 1995, says the release.It is the first season ever recorded in which 40% of hurricanes reached Category 5 status, and the only one in which two maximum strength storms struck land. Both storms missed the United States, one hitting Mexico and the other Nicaragua