The 2022 Atlantic Hurricane Season is Here. Be Prepared with EigenPrism
According to the NOAA’s Climate Prediction Center, the 2022 Atlantic Hurricane Season can witness an above-average hurricane activity – making it the seventh consecutive above-average hurricane season.
NOAA’s outlook for the Atlantic Hurricane Season, which extends from June 1 to November 30, predicts a 65% chance of an above-normal season, a 25% chance of a near-normal and a 10% chance of a below-normal season. For the 2022 Atlantic Hurricane Season, NOAA is forecasting a likely range of 14 to 21 named storms (winds of 39 mph or higher), of which 6 to 10 could become hurricanes (winds of 74 mph or higher), including 3 to 6 major hurricanes (category 3, 4 or 5; with winds of 111 mph or higher).
During the 2021 hurricane season, eight storms made landfall along the US Gulf Coast, among which, Hurricane Ida made the most impact across the Northeast US, and in 2020, six storms made landfall including Hurricanes Laura and Delta.
Prepare for 2022 Atlantic Hurricane Season with EigenPrism!
Early preparation and understanding your risk is key to being hurricane resilient and climate-ready. To help prepare for the 2022 Atlantic Hurricane Season, we recommend the following key strategies:
- Data readiness- Ensuring your schedules and portfolios contain current data is the foundation for data-driven decisions. When a storm approaches, viewing up-to-date location information will save valuable time and reduce uncertainty. Leverage APIs to stay current with your data and check the quality of your data including geocoding, values, policy terms and conditions.
- Alert thresholds – Review your Alert settings and customize thresholds to set the frequency that reflects your requirements.
- Alert Digest- Turn on Alert Digest under your user profile settings to reduce email clutter. Click here to learn how to manage your Alert notifications.
- Scenario planning- Now that your data is current, use the historical and real-time event catalogues to investigate how benchmark-events might impact your exposures. Assess the estimated impact of these events, and stress-test programs with what-if scenarios, and review your moratorium criteria.
- Cut out the Noise – Don’t rely on the news cycle but monitor your specific exposure to get specific, clearer insights.
- Focus on Impact – Using the relevant footprints, quantify the financial impacts of the storm more efficiently and accurately. Click here to see which event sets to choose for hurricanes.
