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Most of the estimated insured losses will be retained by insurers. -
Praedicat CEO Bob Reville outlined the firm’s approach to "casualty cat" as liability risk modeling continues to mature.
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Paul Bantick will continue to oversee the cyber risks division during the search for his successor.
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The numbers will be refined further to arrive at an industry loss estimate.
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Moody’s described Hurricane Helene as “like Idalia but worse”.
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The storm made landfall as a major hurricane in Florida’s Big Bend region.
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The ratings agency expects insured losses of around $5bn for Helene.
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Tallahassee avoided a major hit – but flood and storm-surge losses remain unknown.
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An unexpected shift east towards Tampa could push losses beyond $10bn.
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The facility will provide reinsurance coverage over three underwriting years.
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The effort will draw from California’s research and higher education communities.
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The estimate is like others in the market, suggesting a relatively small loss from the event.
