Neena Saith, senior response manager for modeler Risk Management Solutions, also credited Bermuda's preparation and strong building codes for the relatively low levels of damage and insured losses from Hurricane Igor, which wreaked havoc far from the island, in the Canadian province of Newfoundland. Ms. Saith said damage was limited to some beach erosion, power outages and downed trees, with no significant reports of roof damage.

Damages “depend on the building stock and how well people are prepared,” she said. “The forecast of this storm was very consistent. The people of Bermuda had ample time to prepare and they were expecting the storm to be much worse.”

Allison Towlson, chair of Bermuda's Insurance Development Council, agreed that the island was “very fortunate during Hurricane Igor, and we faired extremely well. Many residents lost power in their homes, but the business center in Hamilton was unaffected. To my knowledge most insurance operations were up and running for business as usual on Tuesday.”

She also noted that “many of us had remote access to technology during Monday while businesses were inspecting buildings to ensure safety for returning staff. We always prepare for the worst, and most entities have a business continuity plan to ensure there is no interruption of business activities after a hurricane.”

Ms. Towlson cited two main reasons why Bermuda handles hurricanes well–”our robust construction standards mean that Bermuda's buildings are some of the most storm-proof in the world, and as evacuation of our tiny island with just over 65,000 residents is not a real option, we know the drill and prepare extremely well in the face of these events.”

David Fox, director of the Bermuda Insurance Information Office, told NU in an e-mail that “Bermudians have always been proud of the fact that we are the most prepared people in the world for these storms, and many will tell you that if they have to experience a hurricane, they want to experience it here, where they are far more comfortable with the building code for residential and commercial premises,”

“From childhood we learn that we prepare our homes and stay indoors. This is Risk Management 101,” he added.

Looking ahead, there is a chance Bermuda hurricanes will steer clear of the island due to a pressure system known as the “Bermuda high” that could affect storm tracks the rest of the season, said AIR's Mr. Doggett. “We will be keeping an eye on this definitely,” he said. “There is a lot of the season left.”

This pressure system will keep hurricanes farther to the south of Bermuda, making paths like those taken by Hurricanes Igor and Earl–up into the Northern Atlantic–unlikely.

“Although the primary storm track has been for storms to approach the Eastern U.S. seaboard before curving out to sea, there are indications that this pattern is changing and that the danger to the U.S. coastline may be increasing going forward,” said Todd Crawford, chief meteorologist with Weather Services International.

Meanwhile, Hurricane Karl struck Mexico twice last week and is expected to cause between $100 million and $200 million in insured losses, AIR reported.