Hurricane
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Hurricane Beryl was a “harbinger of a hyperactive season,” CSU said. -
Beryl has been downgraded to a tropical storm but is still life-threatening, with news media reporting two deaths so far.
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The parametric trigger on the World Bank deal specifies storm pressure of 955mb or lower but its initial reported landfall was at 975mb.
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Hurricane Beryl is expected to strengthen again after hitting the Yucatan Peninsula.
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The parametric structure would have paid out at slightly lower storm pressure.
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The storm destroyed housing in St Vincent and the Grenadines and Grenada.
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The storm is predicted to hit the Caymans tonight or early Thursday.
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Recent modelling predicts a strong probability of direct landfall in Jamaica.
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The firm is the sole provider to offer index services in the US.
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The firm now predicts six major hurricanes and 24 tropical storms.
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Various trends may work together to hold the cat markets up for longer than some had feared.
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Panellists at the Insurance Insider ILS conference say forecasts can push capital to “the edges” of the market.
