Flood

Local catastrophes caused intense regional volatility, according to Verisk, but overall lower claim volume contributed to the property & casualty industry’s strong first-quarter results.

While storms may not make landfall in the U.S., they are becoming increasingly unpredictable and intensify rapidly, warns the National Oceanic and Atmospheric Administration (NOAA).

Nearly 85% of single-family homes at risk of flooding in the U.S. carry insufficient coverage, leaving households vulnerable to thousands of dollars in out-of-pocket costs, according to Neptune Flood.

This year’s hurricane season, which started on June 1, has a 60% chance of above-normal activity, with 13 to 19 named storms expected.

Colorado State University (CSU) hurricane researchers are predicting 17 named storms during the Atlantic hurricane season.

The disaster highlights just how alarmingly low flood insurance coverage is among Americans, particularly in areas that are farther from the coast.

National Oceanic and Atmospheric Administration (NOAA) forecasters are predicting 21 named storms, of which up to 11 could become hurricanes.