Navigating the Dual Threats: COVID-19 and Hurricane Season

Hurricane Season Predictions Amidst COVID-19

The National Oceanic and Atmospheric Administration (NOAA) anticipates an above-normal hurricane season, with 13-19 named storms, 6-10 hurricanes, and 3-6 major hurricanes expected. This year, the COVID-19 pandemic complicates hurricane preparedness, especially concerning evacuation plans. Florida state officials anticipate the challenge of preparing shelters with social distancing measures in place and have sought guidance from FEMA. New Orleans advises residents to include hand sanitizer and face coverings in their emergency kits.

Global Risk and Insurance Impacts

The European Commission is urged to create a resilience framework to provide insurance cover for catastrophes like pandemics and cyberattacks. Reuters reports that the proposed framework would involve public-private partnerships and could respond to events causing hefty business losses without physical damage. Commercial insurance prices are rising at rates not seen for almost two decades, compounding pressure on businesses already struggling with the coronavirus crisis. Insurers face a double hit from coronavirus, with claims potentially passing $100 billion and a hit to reserves from volatile financial markets.

French Ruling on Coronavirus Claims

Reuters reports that AXA will meet the bulk of business interruption claims from some restaurant owners in France after losing a court case seen as a potential precedent for coronavirus-related disputes worldwide. A Paris court ruled that AXA should pay a restaurant owner two months of revenue losses caused by the pandemic, despite AXA's argument that its policy did not cover business disruption from health crises.

In conclusion, while preparing for the upcoming hurricane season, it is crucial to also consider the ongoing COVID-19 pandemic. Ensure your emergency kits include necessary protective items and stay informed about local evacuation plans and shelter protocols. By being proactive and well-prepared, you can better navigate these dual threats.