Tropical Storms Could Brew More Trouble

As Newfoundland and Bermuda recover, two tropical storms are brewing in the Atlantic.
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NEW YORK (

TheStreet

) -- As Newfoundland and Bermuda recover from Hurricane Igor's damage, two tropical storms are brewing in the Atlantic.

Tropical Storm Lisa should mostly steer clear of main land, according to

The National Hurricane Center.

However, Tropical Depression Georgette is likely to stir up some trouble as it makes its way into the Gulf of California. The National Hurricane Center is forecasting flash flooding in Arizona, Utah, Colorado, Texas and New Mexico.

This hurricane season so far has been an active one. Hurricane Igor is estimated to have caused at least $100 million in insurered losses, according to AIR Worldwide. Tropical Storm Hermine and the tornados generated as a result could have caused $100 million in damage, according to the

Insurance Council of Texas.

Hurricane Karl may have caused up to $200 million in damage in Mexico, according to published reports.

Insurers have been relatively lucky since most storms are steering clear of land during the current Atlantic hurricane season. This means that insurers such as

Allstate

(ALL) - Get Report

,

Chubb

(CB) - Get Report

, and

Travelers

(TRV) - Get Report

will be able to use that cash for buybacks or acquisitions after hurricane season is over.

--Written by Maria Woehr in New York.

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