Local insurer Freisenbruch-Meyer is monitoring Tropical Storm Karl, which is expected to reach hurricane strength as it approaches the island later this week.

William Madeiros, executive vice president of the Freisenbruch-Meyer group, said the company was urging its clients to ensure they are fully prepared.

“Please do not hesitate to contact us immediately to ensure your policies are up-to-date and that all values are accurate,” Mr Madeiros said. “We are fully operational and open for business in our original location at 75 Front Street in Hamilton.

“Weather permitting, we will remain open as normal until Friday to assist clients with their various insurance policies.”

The Bermuda Weather Service is keeping a close eye on the storm, listing the system a “potential threat” to Bermuda.

Senator Jeffrey Baron, the Minister of National Security, yesterday advised that a meeting of the Emergency Measures Organisation will likely be convened this week.

As of the BWS 6.00pm update, the storm was located about 895 nautical miles southeast of Bermuda and moving west at about 12 mph. The closest point of approach to the island within 72 hours is forecast to be 198 nautical miles to the south-southeast at 6pm on Friday, by which time the storm is expected to reach hurricane strength.

However, the storm is expected to strengthen and to come closer to the island over the weekend after making a sharp northeast turn, potentially passing to the island’s southeast as a Category 2 hurricane.

Mr Baron stated that the Ministry of National Security is “closely monitoring the forecast track of the storm”.

“Although this storm is some distance away from Bermuda, we are paying close attention to its development.

“A meeting of the EMO is likely to be convened this week to confirm our preparations are in order and to ensure we communicate that to the people of Bermuda.

“In the meantime, residents should check their hurricane supplies and keep an eye on the forecast through www.weather.bm and alerts from the Bermuda Weather Service.”

According to the US-based National Hurricane Centre, the storm boasted maximum sustained winds of 40mph this morning, with some strengthening forecast during the next 48 hours.

That service has estimated Bermuda has a 60 to 70 per cent chance of experiencing tropical storm force winds in the next five days and a 10 to 20 per cent chance of experiencing hurricane force winds during the same period.

Meanwhile, Tropical Depression 13 has strengthened this morning, becoming Tropical Storm Lisa.

As of 6.00pm, the system’s closest point of approach to Bermuda within 72 hours is forecast to be 1,488nm to the east-southeast at 6.00pm on Friday, but the storm is expected to weaken in the coming days.

The system is “not a threat at this time”, according to the BWS.