In the last month or so, two significant North Atlantic hurricane events have brought the latter half of the current hurricane season into sharp focus — and what marks these two events out was how different they were. With Hurricane Florence making landfall on September 14 in North Carolina, this event was one of the most intense storms to go above 30 degrees north in recent history.
After building for many days and reaching Category 4 on the Saffir-Simpson Hurricane Wind Scale (SSHWS) it made landfall as a Category 1 event, stalling and dumping excessive rainfall across the Carolinas. RMS has recently released estimates for insured losses for Hurricane Florence at between US$2.8 billion and US$5.0 billion, reflecting all losses from wind, storm surge and inland flood.
Switching from the East Coast to the Florida Panhandle, the story of Hurricane Michael was of a rapidly intensifying storm that grew over the space of just three to four days as it gained strength crossing a warm Gulf of Mexico, to touch close to a Category 5 event on landfall near Mexico Beach, Florida, on October 10. This level of intensity makes Michael the strongest hurricane to make landfall in the U.S. since Hurricane Andrew (1992), and the strongest October U.S. landfalling hurricane on record.
Insured losses released by RMS for Hurricane Michael will be between US$6.8 billion and US$10 billion. This estimate represents insured losses associated with wind and storm surge damage across Florida, Georgia, and other parts of the Southeast and Mid-Atlantic regions, including losses to the National Flood Insurance Program (NFIP).
Between the floods of Florence and the sheer intensity of Michael, the second half of the hurricane season has so far proved active, so what has the rest of the season got in store? Join us for a Facebook Live discussion in conjunction with Property Casualty 360 on Wednesday, October 24 at 1 p.m. Eastern Time for a recap of what has happened this season, with a focus on the recent impact from Florence and Michael on the southeastern U.S.
Get your questions ready as Jeff Waters, senior product manager for RMS and Wallace Hogsett, RMS client manager, will be live on the PropertyCasualty360 Facebook page and RMS Facebook.