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The storm has not intensified as much as feared, but hurricane warnings remain in effect for New Orleans.
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The US National Weather Service issued a critical fire weather warning for parts of Idaho, Montana, California, Nevada and Oregon on Monday.
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The NHC has put a hurricane warning in place for Lake Maurepas including the city suburbs.
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A much harder retro market is driving reinsurance price increases.
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Wind and hail-related property damage is expected to be covered, but a “sizable portion” of crop losses may not be.
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Ex-RenRe CUO is eyeing a start-up, while other new propositions tussle over Ariel.
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Record heat, dry conditions and strong winds have helped wildfires spread, Aon said. -
Having fuelled up on retro to grow, some carriers may need to focus on managing net exposures.
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New capital could flow into the ILS sector if rates increase sufficiently, Fitch officials said.
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Still some way off Category 1 intensity, Paulette is expected to reach the Leeward Islands on Thursday night.
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It made a 4.4% gain over the past year from its insurance holdings, and has made 7.9% per annum since inception.
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The bulk of the payout – $7.2mn – relates to excess rainfall cover.
