Hurricane
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Despite an active outlook for the season, weather patterns could protect the coastline, it said.
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The estimate for the third named storm of the season covers privately insured wind and storm surge damage.
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US convective storm losses have already topped $13bn for the year.
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The Floridian carrier increased its private reinsurance programme to cover growth despite rate increases.
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Avatar has increased the spreads on its new Casablanca Re bond just a week after hiking them by 16-18 percent.
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Surge warnings are in place, with the tropical storm forecast to move across Arkansas and Missouri.
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On a risk-adjusted basis, the cost of Citizens’ private reinsurance programme increased 20 percent year on year. -
Cristobal could impact the Gulf Coast as a tropical storm late on Sunday.
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The university scientists now expect nine hurricanes, up from eight in their earlier forecast.
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Trading was brought forward this year and more cedants could head to bond market.
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RPP covers, previously dominated by ILS writers, were one of the areas in shortest supply.
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Both tranches of Avatar’s second-ever Casablanca Re cat bond have had their spread guidance increased by 16-18 percent.
