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President Trump releases federal aid for the fires, which include the third-largest blaze in California’s history.
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The weather system dubbed “Nine” is currently off the east coast of Taiwan and appears more likely than not to hit as tropical storm on Saturday.
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Storms could develop into hurricanes before striking the US, but long-range outlooks are uncertain.
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The now tropical storm is expected to move further out into the Pacific and become a tropical depression by tomorrow.
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Almost 350,000 acres burn in the Golden State as firefighters battle two major blazes west of Denver.
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A fire tornado is formed when rising heat combines with turbulent wind conditions, creating towers of flame and ash.
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The storm system is not currently forecast to make a US landfall, although could impact Bermuda later next week as a tropical depression.
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The modelling agency included $400mn to $700mn of losses to the US government’s National Flood Insurance Program as part of its estimate.
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Tornadoes, hail and strong winds hit the eastern half of the US last week.
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The updated total of A$958mn ($675mn) includes additional property and motor damages.
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The developing world specialist insurer is looking for input from ILS funds and reinsurers.
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The Texas state-backed carrier secured $2.1bn in cover for the 2020-21 hurricane season for $107.5mn above the $93.1mn budget.