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Francine has been the eighth Category 2 or larger storm to make landfall in Louisiana since 2000. -
The storm is expected to make landfall in the next several hours.
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An estimated $450mn of losses from Hurricane Beryl will wipe out a surplus Twia had been building since 2017.
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"Life-threatening" storm surge and hurricane-force winds are expected for the state, according to the NHC.
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Francine is expected to make landfall in Louisiana tomorrow.
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The estimate from the Perils-owned company does not include any losses from Hurricane Debby.
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This gives carriers “a pretty clear path” to spread out the risk above a certain amount.
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Storm-like conditions caused by heat have led to “very erratic behavior” on the so-called Line Fire.
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Some Canadian cedants have approached the market for top-up cover.
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Urban expansion, climate change and inflation are key drivers of losses.
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The Insurance Bureau of Canada said the blaze damaged one-third of the Jasper community.
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Included is the full utilization of $25mn available under its cat aggregate treaty.
