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The storm devastated Jamaica and Cuba, but insurance penetration on the islands is low. -
Widespread underinsurance and low exposures will limit losses.
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Many commercial risks will have London coverage, but insured values are relatively low.
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Hurricane warnings are in place for Guantanamo, Holguin and Las Tunas.
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Economic losses from the Cat 5 storm could run 30%-250% of the country’s GDP.
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A US landfall is not expected, but the storm could hit the Bahamas by Friday.
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The storm could bring flooding to Jamaica, Cuba and Haiti.
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The executive is charged with defrauding investors out of nearly $500mn.
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While rates have “definitely come down,” they were coming off a high base, Rachel Turk said.
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Nine-month insured losses still exceeded $100bn due to California wildfires.
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Mory Katz joined the broker earlier this year.
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Guy Carpenter will rebrand as Marsh Re, as a new central tech/operations unit is created.
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