2011 Hurricane Forecast Spells Trouble

NEW YORK(TheStreet) -- U.S. insurers and coastal residents may have lucked out this year, but 2011 they may not be as fortunate, according to a study by Colorado State University.

Approximately 17 named storms, nine hurricanes and five major hurricanes will occur during the 2011 hurricane season, according to the study authored by well-known researchers Dr. William Gray and Dr. Phil Klotzbach.

What will likely differentiate 2011 is that atmospheric conditions make it more likely hurricanes will hit the United States, according to the report. The report explains that the lack of an "El Nino" weather system will allow tropical storms to reach the U.S. coast more easily.

Of the 12 hurricanes that took place in 2010, none made landfall in the United States.

Since last season hurricanes steered clear of the U.S. and insurers such as Allstate (ALL), Travelers (TRV), and Chubb (CB) have avoided paying out billions in hurricane-related catastrophe claims.

The report also estimates that hurricane activity going forward will be well above "active" and remain at the levels that were experienced between 1995 and 2010. During those years there were a total of 65 major hurricanes.

"Because we are predicting an above-average hurricane season in 2011, the probability of U.S. and Caribbean major hurricane landfall is estimated to be above the long-period average," the study says.

--Written by Maria Woehr in New York.



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