Hurricane Season Financial News

Hurricane Lee moves into the region as a powerful post-tropical cyclone.The storm is expected to pack a heavy punch — bringing strong winds, flooding and dangerous high coastal waves.While tropical storm force winds continue to batter Nova Scotia, we want to remind customers that if you come across a downed wire, please stay as far away as possible. Treat the line as energized and report it to our outage line at 1-877-428-6004.

US National Hurricane Center has reported that Tropical Storm Idalia has intensified into a hurricane and is currently advancing toward the Gulf coast of Florida. «Idalia is Now a Hurricane. Expected to Rapidly Intensify Into an Extremely Dangerous Major Hurricane Before Landfall On Wednesday,» the weather agency said. As we approach the hurricane season, which spans from June 1 to November 30 in the Atlantic and the Caribbean, it's important to be well-prepared for potential natural calamities.

hurricane season in the Atlantic typically gains momentum. Historically, the three most active months for hurricanes in the region are August, September, and October, spanning from June to November. American Forecasters have expressed confidence in the likelihood of an unusually busy hurricane season this year. The CSU team predicted a «borderline hyperactive» season with up to nine hurricanes forming in the Atlantic basin during 2023. This upgrade was primarily attributed to the presence of extremely warm ocean waters, a favorable environment for storm formation, which could counteract the suppressing effects of El Niño, as per USA Today. As we delve deeper into August, meteorologists using weather forecasting models have noticed a potential increase in the necessary ingredients for storm development. The first two months of this season have already been quite active, with five storms and one hurricane reported by the end of July. This ranks as the fourth-most active start of any season since 1851. Fortunately, the United States has not faced any significant threats from tropical storms or hurricanes so far. June saw notable activity with three named storms, including Arlene, which brought some rain to South Florida after forming in the Gulf of Mexico. Additionally, two storms, Bret and Cindy, formed in the «main development region,» an unusual occurrence for June. This region in the Atlantic is known for generating many significant storms, especially during the peak of the season. However, neither Bret nor Cindy had any impact on the US. In July, there was a lull in storm activity, with only one named storm, Don, which briefly reached hurricane status in the open Atlantic.

AAA says it won’t renew a small percentage of homeowner and auto insurance policies in hurricane-wracked Florida, joining other insurers in limiting their exposure in the Sunshine State

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