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The NHC estimates that Imelda will produce between six and 12 inches of rainfall.
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The NHC has reported that the hurricane may approach the island as a Category 2 storm.
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The (re)insurance industry should expect a Japanese loss of over $15bn at least once every 20 years, the risk modeller said. -
The firm’s estimate points to a higher top-of-the-range loss than early market forecasts of between $1.5bn and $5bn.
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The Catco Reinsurance Opportunities Fund grew again in August, continuing the trend of growth every month in 2019.
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Earlier this week the agency forecast Dorian losses to cost between $3.5bn and $6.5bn in the Caribbean.
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The system could bring tropical storm-force winds to east Florida over the weekend.
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Modelled average annual loss is less than a quarter of the economic estimate, meaning more needs to be done to close the protection gap, the modeller said.
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The country, which joined ARC this year, will receive a payment of $738,835.
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The programme has been designed to provide $2bn of excess cover for Sempra and CalEdison.
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Estimates of insured losses from Faxai are at around $3bn but sources were cautious given Jebi was initially put at the same level but became a $15bn-plus loss.
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Most losses will come from the Bahamas which are likely to account for just over $3.6bn of losses, the modeller said.
