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The carrier’s annual catastrophe losses ticked up to $2.9bn in October.
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This third payment will be the largest yet received by Central American country.
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Nearly 80% of respondents said underwriting capacity decreased in the quarter.
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The storm, which made landfall with wind speeds of 155 mph, is expected to weaken by Wednesday.
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The storm becomes the 30th tropical cyclone to form in this year's Atlantic hurricane season.
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The latest annual estimate was 4% higher than in 2019 and up 11% since 2018.
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Its present track would see Iota become the third tropical storm to land in Nicaragua this month.
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A paper in the journal Nature argues that climate change is fuelling the problem.
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The storm caused flooding and storm surges along Florida’s Gulf Coast
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Purchasing the analytics firm will help Willis meet growing demand for climate change services.
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The storm struck a state park area around 135 miles north of Tampa.