Death and taxes may be lifes only two actual inevitabilities if you go by the old adage, but for risk managers and insurance claim professionals, hurricane season represents another sure thing.CatastropheTechnology
It isnt “if,” its “when and how many?”
For 2019, the National Oceanic and Atmospheric Administration (NOAA) predicts a 40% chance of a “near-normal” storm scenario.
Spanning June 1 to November 30, the official hurricane season, according to NOAA, will offer a range of 9 to 15 named storms, of which 4 to 8 could become hurricanes (winds of 74 mph or higher), and 2 to 4 major hurricanes (category 3, 4 or 5, with winds of 111 mph or higher).
The irony here is the certainty of hurricanes is laced with uncertainty, as even NOAA, with its potent technology and federal government resources, can offer only a 70% confidence rate.