Six Things 7.9.24
Insurance Thought Leadership
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No Need to Keep Predicting Weather Crises: They're Here
Paul Carroll, Editor-in-Chief of ITL
As I sit in sweltering Northern California -- where it's 105 degrees as I write this -- I realize that I barely have anything to complain about, given the crazy weather seemingly everywhere else.
The biggest problem for the moment is Hurricane Beryl, which devastated parts of the Caribbean and made landfall in Texas early Monday. The storm killed at least four, knocked out power for millions of people and caused vast damage to homes and other property.?
But there are plenty of other catastrophes, too. Wildfires have created much more devastation than normal for this time of year. Heat domes have caused severe distress throughout North America, India and other parts of the world. Floods have hit the Middle East and parts of the U.S. Unusually severe storms have also crushed areas with heavy winds, hail and lightning.?
And we seem to just be getting started. In particular, Hurricane Beryl's appearance as a Category 5 hurricane so early in the season -- drawing energy from water in the Atlantic that is far warmer than normal -- suggests that all the dire forecasts about hurricanes this year may, sadly, play out.
As a recent headline in Bloomberg read, "The Era of Super-Wild Weather Is Already Here."
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