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Otis Becomes Mexico’s Strongest Landfalling Pacific Hurricane on Record
Mexico’s Record-Breaking Hurricane
Early on Tuesday, October 24, 2023, some twenty-four hours before its eventual landfall, Otis was an ordinary tropical storm located off the southwest coast of Mexico. Otis was expected to remain at tropical storm intensity as it neared the Pacific coast and then move inland over the Mexican state of Guerrero.
2022 Catastrophe Review:
A look back on an exceptional year of catastrophic events.
Moody's RMS Event Response by the Numbers: Hurricane Ian
Our team served as an essential partner to our customers in providing timely insights on Hurricane Ian.
Committed to Live Risk Assessment
Building on a 20-year track record, the dedicated Moody's RMS Event Response team monitors real-time catastrophes daily to provide clients with information and products to assess the potential impact on their own portfolios.
24/7 Live Monitoring
The only catastrophe modeling firm to invest in around-the-clock operational support.
Custom Event Reconstructions
Benefit from real-time observations fed into the same engines that build our peril models, ensuring compatibility with the Moody's RMS view of risk.
Boots on the Ground
Count on engineers deployed into the field to gather key insights and crucial information that are used to inform the highest quality depiction of real-time events.
What is Possible? Real-time Event Response
When a catastrophic event such as a hurricane threatens to impact your book of business, communicating the likely magnitude of the event to key stakeholders and proactively managing claims becomes critical. However, getting the latest information on an event and how this impacts your exposure can be a challenge. Is it possible for a portfolio or exposure manager to get near-real-time information during a catastrophic event, so they can meet the decision-making and reporting needs of all their stakeholders?
Standard Event Response
Moody's RMS clients receive standard event response products and services with their model licenses through our client portal.
Spotlight
Moody's RMS Event Response by the Numbers: Hurricane Ian
Prior to, during, and post-landfall, Moody's RMS Event Response served as an essential partner to our customers -big and small -in providing timely, impactful insights on Hurricane Ian to help them assess its potential impact on their portfolios.
Model Development Puts RMS Ahead of the Storm
“Moody's RMS employed key personnel in the field prior to a large event happening. By doing that work before the wind blew, it gave us confidence in the industry that when loss estimates were issued, that there was a range of confidence that we could feel good about.”
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Levels of Moody's RMS Event Response
Moody's RMS monitors events seven days a week, and as part of this monitoring, evaluates and responds to events based on predefined thresholds. At each of the five levels of response, we release additional types of information and products to clients. Activation of these levels depends on the magnitude or size of the event, the peril and region impacted, and the severity of the damage.
Hurricane Maria (2017)
Our years of studying the Puerto Rican market and building inventory enabled us to correctly capture the local risk profile and its vulnerability, both of which were missing from other market loss estimates of Hurricane Maria.
Moody's RMS overcame failures in weather observation systems during high winds through the comprehensive HWind network. We were the only modeling firm to visit the island so near to the storm’s occurrence and this provided quick and powerful validation of our modeled damage.
Typhoons Faxai and Hagibis (2019)
The Japan typhoons of 2019 again demonstrated Moody's RMS’ commitment to post-event reconnaissance. Two missions were carried out in the days following Faxai: the first examined wind damage in Chiba Prefecture and the second visited wind and coastal flood damage in Kanagawa Prefecture. Moody's RMS reconnaissance teams were on the ground within a week of Hagibis’ landfall, investigating the magnitude of the flooding and the resulting damage.
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Otis Becomes Mexico’s Strongest Landfalling Pacific Hurric...
Mexico’s Record-Breaking Hurricane Early on Tuesday, October 24, 2023, some twenty-four hours before its eventual landfall, Otis was an ordinary tropical storm located off the southwest coast of Mexico. Otis was expected to remain at tropical storm intensity as it neared the Pacific coast and then move inland over the Mexican state of Guerrero. Instead, Otis unexpectedly underwent a period of sustained rapid intensification. The U.S. National Hurricane Center (NHC) confirmed that Otis made landfall...
2023 North Atlantic Hurricane Season: El Niño Versus SSTs ...
Following a quiet start to the season that saw four named storms up to mid-August – or five if the unnamed January subtropical storm retrospectively analyzed by the National Hurricane Center (NHC) is included, activity then skyrocketed during the second half of August and early September with nine named storms in just four weeks. As of mid-September, the North Atlantic basin has produced 14 named storms, five hurricanes, and three major hurricanes. This already meets the criteria for the year to be consi...
Hurricane Idalia: Strongest Hurricane on Record to Strike ...
Major Hurricane Idalia made landfall as a Category 3 hurricane near Keaton Beach, Florida at around 11:45 UTC (07:45 local time) on Wednesday, August 30. It is the first time that Taylor County, Florida, in the heart of Florida’s Big Bend region, has experienced a Category 3 hurricane or higher since records began in 1851. In terms of the strongest hurricanes to strike Florida’s Big Bend region, Idalia has matched or surpassed the historical record. Idalia also became the eighth major hurricane to make l...
The Kahramanmaraş Earthquake Sequence: Moody’s RMS Commitm...
On Monday, February 6, a magnitude Mw7.8 earthquake struck southern Turkey, an earthquake that then caused many aftershocks, including three with a magnitude greater than Mw6. In addition, a magnitude Mw7.5 event struck approximately nine hours after the mainshock. This devastating series of events caused a significant loss of life and widespread damage across an area estimated at 350,000 square kilometers (140,000 square miles) extending across southern Turkey and northern Syria. After ev...
2023 North Atlantic Hurricane Season: A Tug of War Between...
June 1 heralded the official start of the 2023 North Atlantic hurricane season and with Tropical Storm Arlene and Bret already on the board, and nine hurricane landfalls in the last three years including four at Category 3, 4, or 5 strength – there is one question on everybody’s mind. Will this hurricane season be as impactful and costly as 2020, 2021, and 2022? Even though the 2022 North Atlantic hurricane season was classified as near normal in terms of its overall tropical activity, the insurance industry...
From Severe Drought to Severe Flood: Italy Hit Hard by Ext...
After severe drought conditions in Italy which can be traced back over the last two years, and the country recording its hottest year in 2022, severe rainfall events this May added yet another climatic extreme. Two separate severe rainfall events struck the Emilia-Romagna region (pop. ~4.4 million) in the north of Italy in just two weeks. Italy’s longest river, the River Po, defines the Emilia-Romagna region’s northern border, measuring some 290 kilometers (180 miles) from its northwest corner, located a...
A Record Start to the 2023 U.S. Tornado Season
The U.S. has experienced a record number of tornadoes in the first three months of 2023 according to preliminary data from the National Weather Service Storm Prediction Center (NWS SPC), delivering an active start to the U.S. severe convective storm season In this blog, we review the 2023 season to date, recap the largest tornado outbreaks, the causes of this active start to the year, potential loss implications, and examine what the remainder of the severe convective storm season might have in store. A R...
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