Hurricane
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The storm caused flooding and storm surges along Florida’s Gulf Coast -
Purchasing the analytics firm will help Willis meet growing demand for climate change services.
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The storm struck a state park area around 135 miles north of Tampa.
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Over 10,000 structures have been destroyed in California alone, Aon said.
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A hurricane watch is in effect for a 150-mile stretch on either side of Tampa.
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Several of the insurer's cat bonds have been heavily marked down in the secondary trading.
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The storm is set to weaken to a tropical depression before making landfall.
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The last-resort carrier met its retention after Hurricane Laura, but expects over $128mn in total insured losses from the 2020 storm season.
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Forecasts show Eta affecting the southern tip of Florida as it turns in the Gulf of Mexico.
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The storm battered Central America as a hurricane last week, causing widespread damage and at least 57 deaths.
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Reinsurance demand will be up in the near term, but a stronger if smaller pool of carriers would be another desirable outcome.
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Forecasters warned that the storm’s course remains relatively uncertain at this stage.
