It seems that 2017 may not have been an outlier year for Hurricanes. Read the full article "US Hurricane Clustering: A New Reality?
In that case it is wise to see how US insurance carriers weather record storms using digital insurance claims solution.
The 2017 Atlantic hurricane season was the fifth most active in 168 years. It was also one of only six seasons to see multiple Cat 5 hurricanes (Irma & Maria). These two hurricanes, together with Hurricane Harvey, followed similar tracks and occurred close together. This situation can hinder relief efforts. For insurers it may also lead to resource strain, disputes and unhedged risks, if insurers do not have enough ‘sideways’ reinsurance cover. Our post asks whether three major hurricanes occurring in the US in close succession really was exceptional or, as our analysis of recent data suggests, it might happen more often in future. Is the insurance industry underestimating the likely ‘clustering’ of major hurricanes?