Colorado State University releases revisions to 2012 hurricane season forecast

Disability Insurance

Preliminary forecast predicted calmer season this year Hurricane season 2012 has arrived, bringing with it heightened concerns of strong natural disasters spawning in the Atlantic Ocean. In the U.S., the insurance industry may be prepared to weather yet another year of powerful storms, but insurers are holding onto hope for a calmer season than what they had seen in the past. Researchers from Colorado State University released a forecast concerning the activity of this year’s hurricane season in April, predicting that there would be no more than 10 tropical storms,…

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2012 hurricane season may be more peaceful than previous years

Hurricane season 2012

Weather Service International announces calmer season for the U.S. The global insurance industry has been holding on to hope that 2012 would be less prone to disasters than its two predecessors. Storms earlier in the year damage this resolve, causing a significant amount of insured losses around the world. Major storms in the U.S. have left the country’s insurance industry on its heels. Things may be looking up for U.S. insurers, however, according to a recent announcement from Weather Services International, a global weather monitoring service. 2012 to have below…

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State requires fast action to strengthen the Florida Hurricane Catastrophe Fund

The 2012 Florida Legislature is rapidly approaching the end of its session, and the lawmakers there have yet to decide on a path for the reform of the Florida Hurricane Catastrophe Fund (nicknamed the “Cat Fund”), without which, the state will be left at a high degree of risk. Without arranging the Cat Fund before the end of session, all it would take is one sizeable hurricane to rip a tremendous chunk out of the state finances, as hundreds of thousands, if not millions of legitimate claims are made, but…

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Florida dodges volatile hurricane season, could make Citizens Property Insurance more financially sound for 2012 season

Hurricane season has come to an end and Florida and its insurers are still standing. Florida has managed to evade major hurricanes for the past six consecutive years. For a state that is growing increasingly dependent upon insurance coverage, this is no small feat. Florida’s Citizens Property Insurance has also emerged from the season virtually unscathed by major storms, though the state-run insurer is still wracked with persistent financial and fraud issues. The 2011 Atlantic hurricane season produced 19 named storms, of which only 7 became full-fledged hurricanes, according to…

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