Weather

The Canadian Hurricane Centre described Teddy as a “very large and powerful storm”.

The NHC expects “significant flash and urban flooding” to continue.

July rains and typhoons Maysak and Haishen severely damaged Kyushu region, the body said.

The Pensacola Bay Bridge was recently rebuilt in a $430mn investment project.

Major reinsurance carriers like Munich Re, Hannover Re and MS Amlin are significant providers to some of the state's regional carriers, analysis suggests.

The storm is expected to move across southeastern Alabama before hitting central Georgia on Thursday.

Life-threatening storm surge is already occurring along the coastline from Alabama to the Florida Panhandle, including Pensacola Bay and southern portions of Mobile Bay.

Severe convective storms account for almost 60% of insured losses, the company said.

The storm is expected to cause “historic life-threatening” flash flooding, according to data from the National Hurricane Center.

Micro-insurance and parametric products show promise in extending cover, speakers said.

The storm has not intensified as much as feared, but hurricane warnings remain in effect for New Orleans.

The US National Weather Service issued a critical fire weather warning for parts of Idaho, Montana, California, Nevada and Oregon on Monday.