PCS staff actively monitored the effects of Hurricane Arthur from July 3–7, 2014. While the storm rained out many Independence Day parades and fireworks displays, a comprehensive PCS industry outreach indicates it did not cause enough damage to be designated a catastrophe.
PCS kept track of storm damage as the hurricane developed in the Atlantic, made landfall in North Carolina near Cape Lookout, and headed north. PCS staff reached out and received Arthur-related damage reports from multiple independent and insurance staff adjusters on the ground in North Carolina. PCS also communicated with insurance companies and North Carolina state-backed insurance pools (NCJUA/NCIUA) to assess the ground situation after the storm and to determine the claims volume. As of July 7, 2014, PCS has determined that the storm has not caused enough damage in the United States to warrant PCS catastrophe designation (PCS designates an event as a catastrophe when it reaches $25 million in claims and affects a significant number of policyholders and insurers).
It’s important to note that this assessment is for the United States. PCS assesses Canada separately.
PCS is committed to a post event on-the-ground presence for any catastrophe of significance in either the U.S. or Canada.
For information on how PCS measures catastrophe information, please download our free guide: How PCS Calculates Loss Estimates.