Dean Strengthens

Look out, here comes Dean†¦ The first hurricane of the 2007 season is currently a Category 1 storm and expected to strengthen, potentially to Category 4 status (winds >131 mph) by Monday. In the Caribbean, hurricane warnings are already in place for several islands, including Dominica and St. Lucia. We note that the most recent hurricane forecasts continue to point to an above-average season and above-average landfall probabilities for the U.S. coastline. In its latest forecast, Colorado State University’s Tropical Meteorology Project also predicted above average major hurricane landfall risk in the Caribbean.   It’s worth mentioning that 2004’s Hurricane Ivan, which ranks as the fifth most costly hurricane in the U.S. ($7.1 billion in insured losses in 2004 dollars), also caused severe damage to Grenada, as well as Jamaica and Grand Cayman. As Hurricane Dean approaches, check out I.I.I.’s main Web site and disaster insurance information site for further updates.  

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