COUNTRIES WILL BE ‘MORE SUSCEPTIBLE’ IF HURRICANES STRIKE: MUNICH RE

Countries will be more susceptible in the event of natural disaster because recovery resources will be under strain for the foreseeable future, Munich Re has warned. As the year’s Atlantic hurricane season begins, the reinsurer said that countries such as the Bahamas, which suffered devastating impacts from Hurricane Dorian in 2019, would be particularly vulnerable. This will be driven by the ongoing recovery from last year’s event, as well as the financial impact from the absence of tourism as a result of Covid-19. Munich Re said major hurricane landfall impacts in 2020 across all regions would pose additional challenges to response and recovery, including labour shortages, supply chain issues, and longer, more challenging coastal evacuations. This year’s Atlantic hurricane season, which starts on June 1, is expected to see above-average activity.