Are Insurers Prepared for an El Niño-Fueled Hurricane Season?

El Niño has undoubtedly impacted the 2023 hurricane season. But it is not the only weather pattern that is exerting influence. Ocean temperature — also known as sea surface temperature — is also driving the storms swirling in the Atlantic Ocean. As reports of record-breaking temperatures in the Atlantic appeared this summer, scientists at the National Oceanic and Atmospheric Administration (NOAA) began to postulate that this season will be an above-average one.As the season progresses, the question has now become: How will insurers fare if one, two or even several storms bring damage to the U.S. housing market?Another burning question that this conversation touches on is how this summer’s Typhoon Dora in the Pacific Ocean may have created weather patterns that influenced the August wildfire on the Hawaiian island of Maui.In this episode, host Maiclaire Bolton Smith continues the conversation with CoreLogic's Director of Catastrophe Response Jon Schneyer to talk about if insurers are ready for another storm to hit the U.S. and what this season could bring.In This Episode:0:44 - How is the insurance industry going to fare if we get multiple bad storms this year?3:45 – What does the appearance of EL Niño mean for Pacific hurricane activity? Are the devastating wildfires of Maui connected to this climate phenomenon?6:18 – Erika Stanley talks about what is going on in the world of weather in the Natural Disaster Digest.U.S. Home Price Insights ReportWildfire Risk ReportHazard HQ Command Central<br/>Up Next: Will Scorching Ocean Temps or El Niño Define Hurricane Season?Find full episodes with all our guests in our podcast archive here: https://clgx.co/3zqhBZt