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The storm, currently 285 miles south of Charleston, is expected to make landfall as a hurricane on Friday. -
Georgia, Virginia and the Carolinas have declared a state of emergency as the storm moves north.
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The storm has sped up considerably over the past six hours.
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The storm is currently at Cat 4 strength but will weaken to Cat 3 as it approaches land.
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The price for risk carrying is no longer insufficient, Munich Re's CEO said in a Monte Carlo briefing.
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The carrier said geopolitical factors had given “new urgency” to the green transition.
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The deal will bring cyber modelling and analytics to the risk transfer market.
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ABIR reported that Bermudians posted a total loss ratio of 69.9% and a combined ratio of 100.1% last year.
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Cyber risk ILS will grow slowly in the short-to-medium term, S&P Global Ratings has predicted.
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The hydrogen industry is a key pillar of the energy transition, but securing insurance coverage is challenging.
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New research estimates one in six chance of magnitude 7 or higher eruption this century.
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Envelop anticipates that cyber ILS could hit $100mn of GWP within four years
