Insights from Allianz Atlantic Hurricane Forecast (Allianz)

Insights from Allianz Atlantic Hurricane Forecast

Thursday, June 6th, 2024 Catastrophe Insurance Industry Property Risk Management

The 2024 Atlantic hurricane season, starting June 1 and ending November 30, is predicted to be particularly active. Allianz Commercial offers insights into this year’s forecast, reviewing notable 2023 storms and providing expert advice on storm preparedness.

Leading forecasting institutions such as AccuWeather, Colorado State University (CSU), and NOAA predict 15 to 28 tropical storms, 8 to 16 hurricanes, and 2 to 7 major hurricanes this season. Unusually warm sea surface temperatures and La Niña conditions are expected to enhance hurricane activity in the Atlantic.

In 2023, despite an above-average season with 20 named storms, only eight made landfall, most being ‘fish storms’ that stayed at sea. Businesses can boost resilience by updating emergency preparedness plans, reviewing insurance policies, and fortifying their premises against high winds and flooding.

Allianz Commercial’s experts highlight five key steps for storm resilience: updating emergency plans, testing business continuity plans, understanding insurance policies, specific preparations for wind or flood events, and making structural improvements. With an active season ahead, these measures are crucial for minimizing disruptions and damages.

Claims Pages Staff Writers are dedicated professionals covering a broad spectrum of insurance topics, including auto, catastrophe, education & training, fraud, legislation, liability, life & health, litigation, property, risk management, technology, underwriting, and workers' compensation. With over 25 years of distribution, our publication brings you accurate and timely information to keep you informed and ahead in the claims industry.

External References & Further Reading

Mid-America Catastrophe ServicesMid-America Catastrophe ServicesSupportive Insurance ServicesChurchill Claims Services

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