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Landslides, avalanche risks and submerged highways are just some of the extreme consequences of the storms. -
Cedants are grappling with rising rates while coverage narrows.
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The city of Buffalo in New York state was worst impacted, but power was also knocked out in areas stretching from Maine to Seattle.
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Scott Stephenson, former chairman, president and CEO of Verisk, will join CyberCube’s board after participating in the funding round.
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CEO Rob Berkley said the company would likely participate in the space for one to three years if rates remain favorable.
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A special session in December and prohibition of assignments of benefits have been cited on the Florida campaign trail.
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The two ILS firms were among those participating in a $20mn fundraise for Elpha Secure Technology.
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The storm, currently 285 miles south of Charleston, is expected to make landfall as a hurricane on Friday.
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Georgia, Virginia and the Carolinas have declared a state of emergency as the storm moves north.
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The storm has sped up considerably over the past six hours.
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The storm is currently at Cat 4 strength but will weaken to Cat 3 as it approaches land.
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The price for risk carrying is no longer insufficient, Munich Re's CEO said in a Monte Carlo briefing.
