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The 25th named storm of the year may become the 10th named storm to impact the US this year.
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The 2020 figure tops the 1.96 million-acre high of 2018, when fires cost the industry around $18bn.
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The average ILS fund was up 0.69% amid an active hurricane season, the fund reported.
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The latest offering comes roughly four months after Fidelis’ first Herbie Re deal.
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More seasoned trapped capital is likely to be suited to such deals.
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Clix index will provide insured loss data for all major nat cat events since 2000.
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Analyst Philip Kett suggested that the carrier has "adequate but not comfortable levels of capital".
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The fire is threatening 22,310 acres and has destroyed or damaged key wineries in Napa Valley.
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Collaboration with HERE would help the business develop predictive analysis and address problems with source data, according to Agile underwriting director Richard Foster.
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The broker expects collateralised reinsurance to shrink as cat bond demand grows.
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The estimate includes claims from four hurricanes: Hanna, Isaias, Laura and Sally.
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The president and CEO urges wordings precision to avoid cyber-related litigation.