Search
 

U.S. Skirts Another Category 5

When Hurricane Dean rolled through the Caribbean and crashed into the Yucatan Peninsula in mid-August, it caused close to $2 billion in insured damages and marked the first time a Category 5

By Eric Gilkey | Updated on September 12, 2007

When Hurricane Dean rolled through the Caribbean and crashed into the Yucatan Peninsula in mid-August, it caused close to $2 billion in insured damages and marked the first time a Category 5 hurricane had made landfall since 1992, the year when Hurricane Andrew devastated Florida.

Instead of waiting another 15 years, however, the world had only to wait two weeks before another Category 5 storm made landfall. Hurricane Felix struck the Honduran/Nicaraguan coastline recently with winds reaching 160 mph, albeit in a swampy and sparsely populated portion of the country. According to ReAdvisory, the storm was tightly packed when it reached the coastline, which helped limit the breadth of the damage. Felix is expected to dissipate over the next three days in the mountains of Central America. A report issued by RMS estimates insured losses will be less than $200 million, a number that will not accurately reflect the extent of the damages due mostly to the fact that insurance take-up in the region is not very high.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.