Storm activity during this year’s hurricane season is forecast to be relatively on par with that seen in recent years, which is why Sagicor General Insurance (SGI) is advising Barbadians to ensure they adequately prepare themselves to overcome any unforeseen challenges.
According to the May 31st update by Tropical Storm Risk (TSR), the 18 named storms predicted for 2022 matches that forecast for 2021, out of which eight are expected to develop into hurricanes, with four intensifying to the level of Category 3 or higher.
One year ago, TSR predicted the development of nine hurricanes for the 2021 season, with four of those also forecast to reach a minimum of category 3.
Despite the number of storms being almost level with that forecast for last year, it is anticipated that overall activity during the upcoming June 1st to November 30th period will be 10-15 per cent above the 1991-2020 30-year average, but at levels slightly below that experienced in 2020 and 2021.
The report stated that “Although large uncertainties remain at the April forecast range, we consider that the more likely scenario is for tropical North Atlantic and Caribbean Sea waters to be slightly warmer than normal by August-September 2022, and for weak La Nina conditions to persist through August-September 2022, thereby contributing to reduced trade winds over the tropical North Atlantic and Caribbean Sea. Both these environmental factors are expected to enhance North Atlantic hurricane activity in 2022.”
SGI’s Vice President – Insurance Operations, Mark Prescott, pointed to the experience of recent years, noting the increasingly unpredictable nature of the annual season. “By this time last year,
we had already witnessed the unusual development of Subtropical Storm Ana prior to the official start of the season.
This year we’ve seen a similar occurrence with the formation of Hurricane Agatha, which made landfall along the Pacific coast of Mexico this Monday.
If the experiences of the last two years have taught us anything, it’s that we need to constantly remind ourselves of the unpredictability and uncertainties of life and why we always need to be prepared.”
“Checking roofs, windows, doors and the walls of your property for and repairing any cracks or weak areas is the best course of action,” he stated.
“If indeed your home is damaged by a storm, we will be there to provide the financial and emotional support our clients need to get things back in order, however, by reducing the potential for damage through repairing or reinforcing key areas, any discomfort to you and your family can be significantly minimised.”
Prescott also made the point that updating the rebuilding cost of a property and the market value of their possessions is critical to ensuring that policyholders have less headaches when repairing or replacing anything they own, after suffering an unforeseen disaster or event such as a storm or hurricane.
“If a property is insured for BDS$300,000.00, but the actual cost to replace it based on the current rebuilding costs is BDS$350,000.00, then one can see where a property owner would lose out if they had to suffer the unfortunate experience of losing their home to a storm or hurricane,” said Prescott.
“Therefore, it is in the interest of the property owner to update the rebuilding cost and market value of their contents
on a regular basis to ensure that this discrepancy doesn’t exist.”
This is even more critical given that in a post-storm/hurricane environment where significant, widespread damage has been experienced, building costs tend to increase temporarily due to a likely shortage of materials and supplies.
In today’s COVID-19 environment, where global shipping networks are experiencing significant challenges and delays, the inability to replenish stock quickly will certainly have an additional impact on these costs.
The experienced insurance executive also encouraged all property owners and renters to make a detailed list of their possessions and valuables and seriously consider taking out a contents insurance package to cover any potential damage or destruction that could be caused by a storm, hurricane, or seasonal flooding.
For more information and to get the best coverage for those valued possessions, Prescott urged individuals to reach out to the company’s team of knowledgeable representatives using one of many options, such as dialling 431-2800, sending a WhatsApp message to 467-7243, emailing sgi-info@sagicorgeneral.com getcovered@sagicorgeneral.com , or connecting via SGI’s Instagram and Facebook pages. (PR)
