Weather
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Modelled average annual loss is less than a quarter of the economic estimate, meaning more needs to be done to close the protection gap, the modeller said.
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The country, which joined ARC this year, will receive a payment of $738,835.
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The programme has been designed to provide $2bn of excess cover for Sempra and CalEdison.
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Estimates of insured losses from Faxai are at around $3bn but sources were cautious given Jebi was initially put at the same level but became a $15bn-plus loss. -
Most losses will come from the Bahamas which are likely to account for just over $3.6bn of losses, the modeller said.
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The storm killed one person and damaged property.
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The loss tracking agency's data has been used on $17bn of reinsurance limit in its 10 year history.
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The typhoon is forecast to make landfall over the eastern outskirts of the Chiba prefecture, southeast of Tokyo, with windspeeds equivalent to a Cat 3 hurricane.
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The Category 1 storm is currently passing by Cape Lookout in North Carolina recording maximum sustained winds of 90mph.
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Karen Clark & Company said Bahamian losses from Hurricane Dorian will reach $7bn including both insured and uninsured damages.
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The hurricane is forecast to become a post-tropical cyclone with hurricane-force winds as it approaches Nova Scotia late on Saturday.
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Flooding from storm surge remains a risk for the Carolinas.
