Tuesday Topic 2019-16                                                                           May 6, 2019

The Summit Insurance Renewed — The Insurance policy for The Summit Property renewed on May 1, 2019.  It should be  posted on The Summit website as those with mortgages must supply the renewal certificate to their mortgage company.  http://www.summit-resorts.com

The premium went up $45,000, a 27 percent increase.  Everyone can probably expect this kind of increase on their personal HO-6 and flood policies as well.  Of those owners who have shared with me, their premiums went up 22 to 30%.  That’s what happens when there are hurricanes and tornados in your area.  Hurricane Preparedness Week is May 5-11, 2019. Learn more at https://www.weather.gov/wrn/hurricane-preparedness

Spring is only a few weeks old, and the last hurricane season ended just a little more than four months ago. But it’s already time to look ahead to the next Atlantic hurricane season which starts on June 1. Earlier this month, the hurricane research team at Colorado State University released its initial predictions for this year.

The Colorado State team is forecasting a total of 13 named storms. A storm is named as soon its maximum sustained winds reach 39 to 73 mph, which is Tropical Storm status. More specifically, the outlook says that five of the named storms will become hurricanes (winds of at least 74 mph), and two of the hurricanes will become major hurricanes. It’s important to note that this outlook does not attempt to determine where storms might develop or how many might make landfall in the U.S.

This year’s outlook is similar to what’s considered an average season of 12 named storms (of those, six will become hurricanes and three will become major hurricanes). The number of predicted storms is close to normal, but the overall activity, which is based on the intensity of storms and their energy, is forecast to be slightly below average. The Colorado State University team has to consider the state of the current El Niño, as well as the setup of Atlantic Ocean temperatures when preparing its outlook. Both factors are pointing to a less-than-active season.

Colorado State University’s early forecasts over the past few years have turned out to be fairly accurate. The 2018 forecast, for example, called for seven hurricanes. That season produced eight. In 2016, the forecast called for six hurricanes, and seven formed. https://www.freightwaves.com/news/weather/first-predictions-of-2019-hurricane-season-released