Year in Review: 2008 Tropical Cyclones, Man-Made CATs

Guy Carpenter’s Instrat unit has issued reports about last year’s notable global tropical cyclone activity as well as 2008 man-made and technical catastrophes.

Appropriately titled, “2008 Tropical Cyclone Review,” the first report summarizes last year’s cyclonic activity while including estimates of economic and insured losses sustained from each of the more significant cyclones after landfall. Instrat asserts that the 2008 season displayed an “above-average” level of activity, as 16 tropical storms formed in the North Atlantic. This represents a 65 percent increase compared to the period from 1950 to 2007, which averaged at 9.7 tropical storms. In fact, eight of the 16 named storms in 2008 developed into hurricanes, and five of those became major hurricanes, meaning they registered a Category 3 strength or higher on the Saffir-Simpson scale.