Hurricane Season Predictions Put Spotlight on Insurance Costs

Hurricane Season Predictions Put Spotlight on Insurance Costs
Hurricane Florence gains strength in the Atlantic Ocean as it moves west, as viewed from the International Space Station, on Sept. 10, 2018. NASA via Getty Images
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The coastal regions of the United States are hoping that hurricanes this year will dodge landfall, not just to save lives and property but also to spare several states from running out of insurance options. However, according to predictions from the National Oceanic and Atmospheric Administration (NOAA), those hopes may be dashed. 
NOAA is projecting an 85 percent probability of an above-average hurricane season this year—June 1 through Nov. 30—with damage exceeding a reasonably mild season in 2023. In addition, more than 32.7 million residential properties in the U.S. Gulf and East coasts could be subjected to moderate or severe damage from hurricane-level winds and storm surge flooding, California-based real estate information service CoreLogic estimates.
Mark Gilman
Mark Gilman
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Mark Gilman is a media veteran, having written for a number of national publications and for 18 years served as radio talk show host. The Navy veteran has also been involved in handling communications for numerous political campaigns and as a spokesman for large tech and communications companies.