Hurricane
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An unexpected shift east towards Tampa could push losses beyond $10bn. -
TSR predicts Atlanta, Georgia, could face Cat 1 windspeeds as the storm moves further inland.
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The storm is expected to make landfall in Florida’s Big Bend coast on Thursday evening.
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Helene is currently a Category 1, but rapid strengthening is anticipated over the next day.
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The ILS manager expects “minimal, if any, losses” to bonds in its funds.
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In the best-case scenario, a Big Bend-landing storm could cost $3bn-$5bn, Howden Re said.
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A hurricane warning is in effect from the Anclote River to Mexico Beach, Florida.
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A storm surge warning is in effect from Flamingo to Indian Pass.
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The storm could become a major hurricane by Thursday.
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The system is forming in the same area as 2022’s Hurricane Ian.
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Floir approved nearly 650,000 policies for takeout from Citizens for October and November.
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Moody’s also predicts losses to the NFIP at less than $200mn.
