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12 September 2018Insurance

Florence may hit US as category 5 hurricane

Hurricane Florence is currently a category 4 hurricane and may intensify to a category 5 hurricane in the next 24 hours, according to data provider AIR.

Florence is currently forecast to make landfall on the US east coast late Thursday night or early Friday morning at category 4 intensity.

As of 11 am EDT on Tuesday, September 11, hurricane Florence was located about 390 miles south of Bermuda and 905 miles east-southeast of Cape Fear, North Carolina, with maximum sustained winds of 130 mph. Florence is moving west-northwest at 16 mph toward the US East Coast; a slight increase in speed is expected over the next two days.

The storm is predicted to produce dangerous flooding and storm surge, AIR said. There is some indication the storm may slow down and potentially stall as it reaches landfall. Total rainfall accumulations of 15 to 20 inches, with isolated amounts up to 30 inches, are possible over portions of North Carolina, Virginia, and northern South Carolina through Saturday. Florence’s currently forecast track is unusual in that it is not expected to continue its motion northwestward into the Mid-Atlantic as storms in this area typically do, AIR noted.

“The unique aspects of Florence are not in terms of its intensity or expected landfall location,” said Peter Sousounis, AIR director of meteorology. “Rather, it is with its forward speed. Some models actually stall Florence for upwards of a day or two. That slowness could lead to significant rainfall in North Carolina. The existing record is from hurricane Floyd 1999 with 24.06 inches. Florence could generate that by Friday evening with continued rainfall for another 2-3 days. It is not out of the question that some portions of North Carolina could receive over 40 inches – possibly 50,” Sousounis noted.

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25 July 2018   Insured losses from natural disasters in the first half of 2018 are estimated at $21 billion, 40 percent lower than the 10-year average of $35 billion, according to Aon’s Global Catastrophe Recap: First Half of 2018 report.