U.S. insured property losses in 2004 rank as highest on record.In terms of both number of events and insured losses, 2004 was one of the most active years on record for natural catastophes in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. American Re's Annual Review of North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. Catastrophes 2004. Hurricanes were the largest source of insured loss in the United States in 2004, followed by an extended period of thunderstorm thunderstorm, violent, local atmospheric disturbance accompanied by lightning, thunder, and heavy rain, often by strong gusts of wind, and sometimes by hail. activity and a frigid January in the Northeast. This resulted in the insured property losses from natural catastrophes in the United States in 2004 being the highest on record, surpassing $30 billion. Lessons from Charley, Frances, Ivan and Jeanne The insurance and catastrophe risk modeling industries learned the following important lessons from the busy 2004 hurricane season Hurricane season refers to a period in a year when hurricanes usually form. For more information see: Tropical cyclone#Times of formation. For a lists of past seasons, see:
* HURRICANCES CAN BE CLUSTERED IN BOTH SPACE AND TIME. * INSURERS NEED TO BE PREPARED FOR THE AGGREGATE EFFECTS OF MULTIPLE, MEDIUM-SIZED STORMS IN A GIVEN YEAR. * HURRICANES' WIND FIELDS CAN BE EXTREMELY COMPACT. [GRAPHICS OMITTED] |
|
||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion