Triple-I: 2024 Atlantic Hurricane Season Forecast to be ‘Very Active’

Banking & Financial Services
Webp 8v72u2qew7oqyrxtkiorqfft8o16

ORGANIZATIONS IN THIS STORY

LETTER TO THE EDITOR

Have a concern or an opinion about this story? Click below to share your thoughts.
Send a message

Community Newsmaker

Know of a story that needs to be covered? Pitch your story to The Business Daily.
Community Newsmaker

Michael Barry Chief Communications Officer | Insurance Information Institute

ST. JOHNS, Fla., April 4, 2024 -- A very active tropical cyclone season is projected for 2024 in the Atlantic basin, according to a forecast released today by Colorado State University’s (CSU) Department of Atmospheric Science.

Led by senior research scientist Phil Klotzbach, Ph.D., also a non-resident scholar at the Insurance Information Institute (Triple-I), the CSU Tropical Meteorology Project forecasts 23 named storms, 11 hurricanes and five major hurricanes during the 2024 season, which starts on June 1 and continues through Nov. 30. A typical Atlantic season has 14 named storms, seven hurricanes and three major hurricanes.

The 2023 season produced 20 named storms and seven hurricanes. Three reached major hurricane intensity.

"One hurricane and two tropical storms made continental U.S. landfalls last year," said Sean Kevelighan, CEO, Triple-I. He added, "The widespread damage incurred from Idalia last year highlighted the importance of being financially protected from catastrophic losses and that includes having adequate levels of property insurance and flood coverage."

Kevelighan emphasized the importance of reviewing insurance policies with professionals, stating, "This is an ideal time for homeowners and business owners to review their policies with an insurance professional to ensure they have the right amount and types of coverage, allowing them to be financially protected for property damage caused by either wind or water."

Phil Klotzbach shared insights into the forecast, stating, “We anticipate a well above-average probability for major hurricanes making landfall along the continental United States coastline and in the Caribbean this season.” He also highlighted the factors contributing to the forecast, such as transitioning El Niño conditions to La Niña conditions, warm sea surface temperatures, and a conducive environment for hurricane formation and intensification.

CSU’s 2024 forecast predicts a 62% chance of a major hurricane making a mainland U.S. landfall, with specific probabilities for the U.S. East Coast and the Gulf Coast regions.

As the 2024 Atlantic hurricane season approaches, individuals are advised to take necessary precautions and review their insurance coverage to ensure adequate protection against potential damages.

ORGANIZATIONS IN THIS STORY

LETTER TO THE EDITOR

Have a concern or an opinion about this story? Click below to share your thoughts.
Send a message

Community Newsmaker

Know of a story that needs to be covered? Pitch your story to The Business Daily.
Community Newsmaker

MORE NEWS