The Unprecedented Hurricane Season

 Thursday, October 1, 2020

 Insurance Thought Leadership

The National Oceanic and Atmospheric Administration (NOAA), part of the Department of Commerce, released a report in May predicting a strong chance of a busy Atlantic hurricane season this year. So far, that prediction has held true.

The World Meteorological Organization (WMO) reports that the 2020 Atlantic hurricane season has been so active that scientists are running out of names on the year’s official list of storm names.

For only the second time in history, hurricane experts have started to name additional storms this year using the Greek alphabet.

There’s no question that an above-average number of hurricanes can have serious, immediate consequences for the millions of Americans who live in vulnerable coastal areas. But there may be far-reaching effects, as well.

This unprecedented hurricane season, during the pandemic, could potentially affect the insurance industry both now and for years to come. Below are six ways an active hurricane season combined with a pandemic might affect homeowners, renters and insurance providers in the U.S.