Tropical storm forms ahead of official start to hurricane season
Hurricane season in the U.S. does not officially begin until June 1, but the season’s first tropical storm has formed off the coast of South Carolina. The storm was reported by the National Hurricane Center in Florida, which noted that the storm boasts of 50mph winds with more powerful gusts at the time it had formed. Though the storm was not expected to gain any strength during its lifespan, it did raise concerns within the insurance industry, which has been locked in bouts with natural disasters for the past two years.
Storm not expected to make landfall in South Carolina
The tropical storm is not expected to reach South Carolina’s shore, according to the National Weather Service, but those near the state’s coast, as well as those along the coast of Georgia and North Carolina, had been warned to watch the progress of the storm carefully. The tropical storm, named Alberto, is expected to cause intermittent rain storms throughout the reason, but these are not likely to be serious events.
Insurers still reeling from two years of natural disasters
U.S. insurers have been weary of natural disasters, having tangled with them for the past two years. Last year brought record breaking insured losses for the U.S. industry, a phenomenon that insurers are not eager to see repeat itself. Though the industry as a whole is believed to be capable of handling another year of powerful natural disasters, the economic impact of said disasters could be difficult to recover from.
Hurricane season expected to be calmer than predecessors
This year’s hurricane season is not expected to be particularly active. Earlier this month, the National Oceanic and Atmospheric Administration predicted that this season would play host to a low number of hurricanes and tropical storms. These forecasts are subject to change, however, given the unpredictable nature of natural disasters and weather phenomena. The insurance industry is betting on a calmer season that what they have experience over the past two years, but insurers are prepared to handle natural disasters if they should arise.