Reflecting on the 2024 Hurricane Season
The 2024 Hurricane Season
As the 2024 hurricane season nears its end, it’s a good time to reflect on the storms that shaped this year and the lessons they’ve taught us about flood risk, insurance, and resilience.
The 2024 season has been active, with 18 named storms and five hurricanes making U.S. landfall, including two major hurricanes—Helene (Category 4) and Milton (Category 3).
- Named storms: 18 (A through S)
- U.S. landfalling hurricanes: 5 (Beryl, Debby, Francine, Helene, Milton)
- Major hurricanes: Helene (Category 4) and Milton (Category 3)
- Fish storms: 5 (no land threat: Gordon, Isaac, Joyce, Kirk, Leslie)
This season is on track to be one of the most impactful in recent history. Only three past seasons—2020, 1985, and 1886—saw six hurricanes make U.S. landfall.
The Impact on Flood Insurance: Public and Private Markets Strained
The aftermath of hurricanes Helene and Milton has put a strain on both the public and private flood insurance markets. The National Flood Insurance Program (NFIP) is expected to face losses between $8.2 and $10.5 billion for 2024. Helene alone resulted in over 55,000 claims, with projected losses between $6 billion and $7 billion. Milton contributed another 18,000 claims and losses between $1.5 billion and $2.5 billion.
These storms highlight the limitations of the NFIP, as rising premiums and limited coverage options are pushing homeowners toward private insurance, which offers more flexibility and higher coverage limits. The private market in Florida is projected to face losses exceeding $500 million from these storms.
Additionally, many homeowners remain unaware of their true flood risk due to outdated flood maps, leaving them vulnerable in the event of a major storm.
Hurricane Milton traveling across the Gulf of Mexico
Looking Ahead: Building Resilience and Preparedness
The 2024 season emphasizes the need for better flood risk management and preparedness. As the threat of hurricanes and flooding continues to grow, improving flood mapping, updating infrastructure, and increasing public awareness are crucial to reducing the impacts of future storms.
At Earthvisionz, we offer an advanced platform designed to help organizations quickly and effectively assess and respond to storm damage. Our platform provides real-time event tracking and damage assessment tools, ensuring that all stakeholders—from policyholders to adjusters and restoration professionals—stay informed and prepared.
