Forecasters are expecting another devastating hurricane season this year. Colorado State University’s Department of Atmospheric Science warns a “very active” season could bring 11 total hurricanes, including five “major” hurricanes (category three to five), and 23 named storms, compared to an average of 14.4 between 1990 and 2020. Meanwhile, the University of Pennsylvania’s Department of Earth and Environmental Sciences is forecasting an even more dire 33 named storms this year, citing high ocean surface temperatures in the Gulf of Mexico.
For most insurance companies, it’s a nightmare outlook that will lead to soaring costs as catastrophe claims spike—but for some, the carnage may perversely provide opportunity.
