2009 U.S. hurricane Season
Quietest In 12 Years

Winter Storms, Strong Winds, Tornadoes, and Thunderstorms Tested Insurers Earlier in the Year

NEW YORK—With the official end of the hurricane season behind them, U.S. coastal residents are no doubt grateful for the relative calm of the 2009 season, although not every year can be expected to be as quiet as this one. Between June 1 and Nov. 30, 2009, only nine named storms developed in the Atlantic basin, three of which became hurricanes. These are the lowest totals in each category since 1997, according to the Insurance Information Institute (I.I.I.).

A Far Cry from Last Year
“The 2009 season is a welcome respite from 2008, when
hurricanes Gustav and Ike disrupted hundreds of thousands
of lives in Louisiana and Texas, and caused $14.65 billion
in insured losses,” said Dr. Robert Hartwig, an economist
and president of the I.I.I. “Profits in an industry like insur-
ance must be seen over the long term. A single hurricane,
or a string of large losses, can wipe out insurer profits from
previous years, or even decades. And insurers must be pre-
pared to pay for these losses, irrespective of the current eco-
nomic conditions.”

Names Named

The nine named storms, according to a Colorado State Uni- continued on page 4

Texas Climbs Out of
Its “Judicial hellhole”

In This Issue

TDI Posts October enforcement Actions

AUSTIN—For only the second time since 2002, Texas is not among the nation’s worst civil court jurisdictions, according to the American Tort Reform Foundation’s eighth annual “Judicial Hellholes” report. The state’s Gulf Coast and Rio Grande Valley long ranked among the nation’s worst jurisdictions for litigation abuses, still remains on the “watch list.”

economy Poses Special Challenges To Marine Underwriters 7

47th Joe Vincent Management Seminar Set for Jan. 31-Feb. 2

Big “I” Cheers house Financial Services Committee FIO Tinkering 11

A Point of Light

“Texas is no longer the ‘world’s courtroom,’” said George S. Christian, president of the Texas Civil Justice League. He commended the Texas Legislature, which the report highlights as a “point of light” for resisting efforts to reverse continued on page 6

Fort Worth CPCU Chapter Awards Six Scholarships

Chinese Dry Wall: Separating Fact from Fable

Legislative Proposal Offers Cash for Caulkers

Get THE INSURANCE RECORD digital edition — online — every other
Thursday. Send your customer number (found on your mailing label)
and your email address to: digital@spcpub.com to start receiving your
online edition every issue. You’ll still receive your printed edition in the mail.