Insurers in the United States (US) have sufficient capacity available for coverage prior to the approaching US hurricane season, according to Fitch Ratings.
The rating agency has revealed that early forecasts for the season predict that the North Atlantic Basin will likely produce below-average hurricane frequency relative to long-term results.
This, the agency said, was due to a number of environmental forces that serve to stifle the development of tropical storm activity appearing more prevalent at this point in 2012 than in many recent years.
Fitch also noted that sufficient underwriting capacity remains available in the reinsurance markets.
US, hurricane, Fitch, North Atlantic Basin