November 2016 Preview: Historical Catastrophe ActivityBy Property Claim Services | November 14, 2016
The 2016 hurricane season will come to an end on November 30. So far this year, two catastrophes have been designated as tropical events. Hurricane Hermine affected Delaware, Florida, Georgia, Maryland, North Carolina, South Carolina, and Virginia between August 31 and September 4 and resulted in approximately $245.6 million in insured losses. The other tropical event this year was Hurricane Matthew, which affected Florida, Georgia, North Carolina, South Carolina, and Virginia between October 6 and October 9. Those two events together have totaled more than $2.9 billion in insured losses so far, and both are currently open for further resurveys.
While there have been no tropical storm–related catastrophes in November in the past ten years, risk remains. Eight catastrophes have been designated in November in the last ten years, resulting in approximately $1.1 billion in insured losses. The largest November event was in 2006, when winter storm CAT 89 caused $300 million in total insured losses. Last November, two catastrophes were designated: CAT 99, a wind and thunderstorm event that resulted in approximately $253.1 million in total insured losses, and CAT 11, a winter storm event that resulted in approximately $91 million in insured losses.
November Historical Data 2006–2015
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The PCS name has become synonymous with catastrophe reporting and assignment of catastrophe identification numbers. PCS information is used primarily as a check on internal company damage estimates in setting loss reserves and as a guide to deployment of field adjusters.
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