Tropical Storm Erick has formed in the Pacific and is expected to become a hurricane by Wednesday, according to the National Hurricane Center.

Hurricane season is an annual reality in this region. While we can’t control the path of a storm, we can control how prepared we are for its financial impact.

Editor's note: This system's chances of developing have increased.Click here for the latest update on July 17. The National Hurricane Center said on Tuesday, July 15, it is continuing to track a ...