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Buyers and sellers are eyeing a 20% RoL, but contracts have yet to trade.
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The number of structures destroyed is closing in on levels recorded from some 2017-2018 fires. -
Forecasters predict landfall around 100 miles to the east of Houston.
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Residential property with a reconstruction value of almost $90bn is at risk of storm surge, says CoreLogic.
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Shipping is currently heading away from the port of Houston for safer waters, according to live vessel location information.
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The carrier expects to retain about $346mn, net of reinsurance reimbursements.
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Buyers are looking to protect against a mid-sized loss, although trades are not believed to have taken place yet.
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The tropical storm – expected to be a hurricane when it hits the Gulf Coast – could have a different impact.
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The storm is due to impact the west coast on Thursday after hitting southern island Jeju today.
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Sources estimated combined property and crop claims could reach $4bn up to $10bn.
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The hurricane is forecast to make landfall on the Texas or Louisiana coast on Thursday.
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The broker expects ILS funds will have a more difficult time raising capital next year.
