In Late February RedZone Software CEO Clark Woodward and COO Michael Flannery attended the Cat Risk Management Conference in Orlando, FL. The conference is hosted every year by the Reinsurance Association of America (RAA). The event brings leading global experts together to meet and discuss catastrophe risk management. Representatives from all across the industry were present, including: reinsurers, modeling companies, researchers, regulators, and academics. As the conference subtitle for 2019 indicates, attendees are invited to look toward “The Future of Catastrophe Management – 2020 and Beyond”! This is RedZone’s 2nd year in attendance featuring the RZRisk and RZExposure solutions we offer.
Over 30 tornadoes tore through Alabama, Georgia, and Florida on Sunday afternoon. Massive damage and numerous injuries and deaths have been reported across the Southeast US. Nearly 20 of these tornadoes were reported along a track that stretched east from Tuskegee, Alabama, to Macon, Georgia.
The Great Galveston Storm of 1900
This barrier island along the gulf coast was home to millionaires and large elaborate mansions sprawling the coastline. The highest point of elevation being 8.7 feet above sea level, the community is ripe for devastation from a hurricane.
In the year 1900, this area was struck with a horrendous hurricane that would ultimately destroy the entirety of the community and kill an estimated 6,000 to 8,000 people.
When most people think of natural disasters, the first thing to come to mind is not likely flooding. However, flooding is the most common natural disaster. Flooding occurs in all 50 states, accounts for 40% of natural disasters, averages 5 billion dollars in damage each year, and claimed an average of 75 lives per year over the last 30 years.
Yet another winter storm is slated to send more rain to Southern California this week and we at RedZone think it warrants a little inside info on the risks of post-fire debris flows. The nation is experiencing its second El Nino effect in three years with it forecast to last in to the summer. What that means, is a higher potential for land-moving rainfall rates in areas where fires have scorched the landscape. After last years tragic events that occurred in the Thomas fire burn scar, officials have not taken the potential of these continued storms lightly. So far this winter, residents have been evacuated near the Holy, Thomas, Cranston, Napa/Sonoma, and Woolsey fires (all recent burn scars from the last couple years).
It seems strange to be talking about weather events that peak in the summer, like tornadoes, while we still have massive winter storms impacting much of the Northeastern United States. However, now is typically when we start shifting our focus onto the weather incidents of the upcoming summer season. The end of February is when tornado season starts to ramp up, and will typically peak around mid-June.
In Mid-December, Senior Fire Liaison Doug Lannon and I spent a few days surveying the damage from the Woolsey Fire. We toured the 16 mile long fire area with the aim of digesting the fire’s destructive path from a fire behavior and investigative perspective. We were fortunate enough to gain access to a wide range of properties with a range of extent of impact from Bell Canyon all the way to homes right above the Malibu Coast. After a few days of surveying, a familiar story unfolded, yet another destructive and uncontrollable wind-driven Santa Ana fire in California. Read more
Specialists are calling the 2018 wildfire season part of another record-breaking year, specifically due to the property losses in California. They’re also predicting another detrimental 2019 wildfire season. Even though 2018 had less wildfires than 2017, the harm and size surpassed 2017 significantly. With megafires on the rise, companies need to reconsider their risk approach so they can confidently underwrite wildfire threats and proactively receive alerts to grow their portfolios and protect people.
2018 Hurricane Season Quick Stats
Each spring, several predictive services release their forecasts for the upcoming Hurricane Season, which officially runs June 1 – Nov 30. While named storms can form outside of this range, they are significantly weaker and rarely reach hurricane strength levels.
2018’s fire season was another record breaking year; in particular, California was absolutely devastated in terms of lives and property lost. According to the National Interagency Fire Center in 2018, 8,582,609 acres were burned by 55,911 different wildfire starts throughout the United States. In comparison to the 2017 fire season, there were 991,924 fewer acres burned in 2018, from 8,699 less starts than 2017. These statistics paint a picture that this past season was not as severe in terms of wildfires, this could not be further from the truth.