Taking a look at significant weather activity in 2016 to date, we saw a rare January hurricane, Alex, as well as Tropical Storm Bonnie in May. June started the Atlantic hurricane season. In that month, Tropical Storm Colin made landfall and brought heavy rain to Florida and the coast of the Carolinas. If the past is a guide, we can expect a breather in July, which historically has brought low levels of tropical storm and hurricane activity.
Property Claim Services® (PCS®) has designated only eight tropical storms or hurricanes as catastrophes in the month of July since 1970. In that time span, the most active July for tropical storm and hurricane activity was 2005, when Hurricanes Dennis and Cindy generated more than 120,000 claims and nearly $1.3 billion in insured property losses.
In the past ten years, PCS has designated a total of 29 catastrophes—including a number of wind and thunderstorm events—which resulted in insured losses of roughly $8 billion. The most active years in this period by frequency were 2008 and 2009, when PCS designated five catastrophe events for each year. July 2011 had the highest severity, with nearly $2 billion in losses from four PCS-designated events.
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