Hurricane

Data from the NHC shows that maximum sustained winds are near 65mph, with higher gusts.

The Cat-4 storm is likely to weaken as it approaches the California coast.

The storm could cause between three to 10 inches of rainfall across portions of the Baja California Peninsula through Sunday night, with possible flash flooding from late Friday into late Sunday.

The development in reconstruction costs and contingent BI claims may put the ultimate sum beyond current estimates.

Loss estimates from Aon, Gallagher Re, Swiss Re and Munich Re all point to a significant component of severe convective storm losses.

The latest estimates peg the fires as the second largest loss event in the state’s history, second only to Hurricane Iniki in 1992.

Most forecasters now predict above-average storm activity for the Atlantic as a result of record-high sea-surface temperatures.

Thursday’s update pegs the likelihood of near-normal activity at just 25%, a decline from the 40% chance outlined in May's outlook.

Tens of thousands of people have been evacuated from the island, and nearly 14,000 Maui residents remain without power.

The company has forecast a more intense season than originally predicted in May.

The asset manager cited a strong pricing environment and increased capacity from unlocking trapped capital.

The carrier said a greater number than usual of North Atlantic storms are possible despite El Niño conditions.