Reinsurance (June 01, 2009)

2009 HURRICANE SEASON IS A 50-50 CHANCE OF BEING NORMAL: NOAA The National Oceanic and Atmospheric Administration (NOAA) Climate Prediction Center (CPC) has called for a 50% chance of a near-normal hurricane season, according to the 2009 Atlantic Hurricane Season Outlook. The outlook indicates as well a 25% chance of an above -normal season and […]

May 31, 2009 | Last updated on October 1, 2024
1 min read

2009 HURRICANE SEASON IS A 50-50 CHANCE OF BEING NORMAL: NOAA

The National Oceanic and Atmospheric Administration (NOAA) Climate Prediction Center (CPC) has called for a 50% chance of a near-normal hurricane season, according to the 2009 Atlantic Hurricane Season Outlook.

The outlook indicates as well a 25% chance of an above -normal season and a 25% chance of a below-normal season, according to the NOAA.

There is an estimated 70% probability that the 2009 Atlantic hurricane season will include nine to 14 named storms, four to seven hurricanes and one to three major hurricanes.

Quebec flooding raises 2024 NatCat losses to $7.6 billion

Claims

Quebec flooding raises 2024 NatCat losses to $7.6 billion

Flooding after Tropical Storm Debby passed through Montreal and nearby regions of Quebec in August caused $2.5 billion in insured damage, according to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ).  The Aug. 9 and 10 catastrophe now ranks as the costliest insured event in Quebec’s history, says Insurance Bureau of Canada. “The record-breaking […]

By Alyssa DiSabatino | September 13, 2024

2 min read

Will reinsurance capacity be stable in Canada after record-breaking NatCat losses?

Claims

Will reinsurance capacity be stable in Canada after record-breaking NatCat losses?

Though 2024’s reinsurance renewal season started off stable compared to 2023, this summer’s record-breaking insured losses from four major Nat Cats will undoubtedly see growth in Canadian carriers’ reinsurance demand. But reinsurance supply may not grow commensurately, experts tell Canadian Underwriter. Beyond Canada, global insured Cat losses could be the factor that makes or breaks […]

By Alyssa DiSabatino | September 23, 2024

2 min read

After Calgary’s record-breaking storm, do homeowners have proper hail coverage?

Claims

After Calgary’s record-breaking storm, do homeowners have proper hail coverage?

This summer’s hailstorm that caused over $2.8 billion in damage across the city of Calgary helps raise the question: do homeowners have sufficient coverage for their risk?  “Most home insurance policies cover damage caused by hailstorms, however the extent of the coverage and what the policy covers can vary,” says Steven Harris, licensed insurance broker […]

By Alyssa DiSabatino | September 24, 2024

2 min read