Home
2004 Hurricane Losses
Overview | 2004 Hurricane Losses | Press Release
The 2004 aggregate industry loss of $22B to $25B was also not that unusual. EQECAT estimates such a loss every nine-10 years for the United States and every 25 years for Florida, as shown in the chart below. If your CAT modeler is telling you the 2004 industry loss is significantly less frequent, i.e. a 75 to 100 year loss, this is not supported by facts, and may point to a bias or problem in their cat model.
|
|
|
|
$20B |
$36B |
$25B |
$43B |
$8B |
$22B |
$9B |
$24B |
The table below shows that five years in the last hundred would generate losses in 2004 dollars greater than last year. Note that five out of six years involve multiple events. Also, note that four or more hurricanes occurred in 12 of the last 105 years.
|
|
|
1926 |
$56.9 |
4 |
1954 |
$49.6 |
3 |
1947 |
$30.5 |
2 |
1928 |
$29.3 |
2 |
1992 |
$26.2 |
1 |
2004 |
$22.3 |
4 |
|
|
|
0 |
14 |
1 |
34 |
2 |
28 |
3 |
17 |
4 |
8 |
5 |
1 |
6 |
3 |
Total: |
105 |
|
For more information:
EQECAT 2005 Hurricane CAT Model Challenge
1-510-817-3101 | solutions@eqecat.com |
