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The insured loss from Beryl in the US was pegged at $2.7bn.
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The fund is expected to make payments of just over $75mn due to the Category 5 event.
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Chief science officer Steve Bowen said it was still too early to provide precise insured-loss estimates.
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Houston Mayor John Whitmire said: “We woke up this morning on the dirty side of a dirty hurricane.”
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Beryl has been downgraded to a tropical storm but is still life-threatening, with news media reporting two deaths so far.
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According to BMS, Hurricane Beryl is likely to be a retained event for most insurance carriers.
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Insured losses could be less than $1bn if current NHC forecasts are accurate.
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The storm destroyed housing in St Vincent and the Grenadines and Grenada.
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The storm is predicted to hit the Caymans tonight or early Thursday.
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Grenada and St Vincent were spared the full brunt of the storm.
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Hurricane conditions are expected in Jamaica on Wednesday, according to the NHC.