Property/casualty insurers may well be relieved that the 2011 Atlantic Hurricane Season officially ended this week. This year, the season counted 19 tropical storms, 7 hurricanes, and 3 major hurricanes (Category 3 or above on the Saffir-Simpson Hurricane Wind Scale) resulting in insurance claims.
Despite the same total number of storms forming in 2011 as 2010, the total insured losses will be significantly higher than those seen in 2010, reports risk management solutions provider
The 2011 Atlantic Hurricane Season ties for third with the 1887, 1995 and 2010 seasons in terms of number of storms, since records began in 1851, notes RMS. The Atlantic remains in a period of heightened storm activity, with numbers in 2011 being almost twice as high as the long-term average (1950-2010) of 10.5.
Insurers braced for Hurricane Irene, which made landfall over the east coast in August this year, and in September, Tropical Storm Lee tracked over the coast of Louisiana.
Elsewhere across the North American continent, Hurricane Maria and Tropical Storm Ophelia made landfall over extreme eastern Newfoundland, Canada. Arlene, Nate and Rina made landfall as tropical storms over Mexico, and Tropical Storm Harvey tracked over the Belize coast. Emily, Irene and Maria tracked through the Caribbean.
RMS reports that it will issue a comprehensive review of the 2011 hurricane season in a white paper in January 2012.
