July 2019 preview: Historical catastrophe activityBy Ted Gregory | July 1, 2019
As we head into the summer months—and deeper into Atlantic hurricane season—we examine recent catastrophe trends for July.
Last year tied for the most active July in PCS® history, with eight designated catastrophes, including six wind and thunderstorm events and two wildland fires. It was the greatest number of July catastrophes since 1980. The eight events in 2018 resulted in nearly 259,000 claims and an estimated $3.6 billion in insured property damage. The two wildland fires were the Carr Fire and the Mendocino Complex Fire, which resulted in 16,600 claims and more than $1.3 billion in insured losses.
From 2009 to 2018, PCS designated 37 catastrophes in the month of July, including 34 wind and thunderstorm events and three wildland fires. The 37 catastrophes caused more than $12.8 billion in total insured losses from more than 1.77 million claims.
Since 1970, PCS has designated only eight tropical storms or hurricanes as catastrophes in July. The most active July for tropical storm and hurricane activity occurred in 2005, when Hurricanes Dennis and Cindy generated about 121,000 claims and more than $1.2 billion in insured property losses.
The following graph illustrates catastrophe activity for July from 2009 to 2018 in terms of dollar losses and claim volume.
For more information, please contact Ted Gregory at 201-469-3144 or email email@example.com.
Tagged with: , ,