While conditions for hurricane formation have become slightly less favorable overall since our last update, we should still be prepared to encounter our fair share of hurricanes this season
NEW YORK (PRWEB) July 10, 2008
Storm Exchange is expecting 12 - 14 named storms overall, with 6 - 8 hurricanes and 2 - 4 becoming intense (Category 3 or higher) storms. The updated forecast, while remaining above the long-term average, has been reduced slightly from the update released on May 1st.
"While conditions for hurricane formation have become slightly less favorable overall since our last update, we should still be prepared to encounter our fair share of hurricanes this season," said Paul Walsh, Storm Exchange Chief Strategy Officer. "While a repeat of the hyperactive 2005 season is now highly unlikely, Hurricane Bertha, the second strongest storm to ever form this early in the season, is a stark reminder that the overall risk environment for hurricane formation remains high."
Storm Exchange PhD meteorologists update the Atlantic Basin hurricane outlook monthly from their Research Center at State College, PA, adjacent to the campus of The Pennsylvania State University. The updates utilize the most sophisticated atmospheric science and computer technologies available and are meant to provide an objective grading of the current risk factors related to the hurricane season based on the latest global observations and forecast information. The next update will be released to clients on July 31st and to the media on August 4th.
To receive a copy of the Storm Exchange 2008 Hurricane Outlook, please visit http://www.stormexchange.com/hurricaneoutlook/.
About Storm Exchange, Inc.
Storm Exchange is a leading provider of weather-related financial risk and information services.
The company helps corporations improve performance by identifying, quantifying and controlling the impact of weather on their income and expenses. Storm Exchange also serves investors, insurers and other financial industry participants with analytic solutions that offer greater insight into how weather impacts investment and risk portfolios.
Storm Exchange solutions include industry-specific weather indices, data, analytics, forecasted weather risk scenarios, and hedging programs. These solutions address the fundamental drivers of financial performance that result from exposures to precipitation, wind, temperature and other climate variables.
Storm Exchange is headquartered in New York and operates a weather research center in State College, PA.
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