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  • The first named storm of the season, Alex, is likely to hit Northern Mexico with hurricane strength winds in the middle of the week, although there is a small chance that it will stray as far North as Houston or Dallas, forecasters said early today (28 June).
  • Karen Clark, of the eponymous firm, is a leading expert in catastrophe risk assessment and management, working for more than 25 years in the field. Clark developed the first hurricane catastrophe model and founded the first catastrophe modelling company, Applied Insurance Research (AIR), in 1987. She shares her thoughts on the 2010 hurricane forecasts...
  • Despite talk of resilience and risk picking in the Sunshine State, the dynamics of a traditional property casualty reinsurance market full of surplus capacity held sway at the key 1.6 Florida renewal.
  • The key US cat renewal date of 1 June this year - which was characterised by excess traditional capacity and falling rates - served to underline the steady presence of collateralised reinsurance in the property cat market.
  • Climate Exchange plc, the parent company of the IFEX cat futures trading platform is being sold to the InterContinental Exchange (ICE), in a £395mn deal which will be effective in early July this year.
  • Dedicated cat funds - usually considered protection sellers of industry loss warranty (ILW) and cat derivatives contracts - have become buyers of cover in an effort to hedge heavy US wind exposures and potential Deepwater Horizon losses.
  • Trading of 2010 catastrophe derivatives on the Chicago Mercantile Exchange (CME) and Chicago Climate Futures Exchange (CCFE) reached $44mn as the US wind season officially opened this month.
  • If the (re)insurance industry is hit by a market changing loss this year, capital will flow into sidecars and existing companies rather than a wave of start-ups.
  • Moody's pulled its downgrade review on two tranches of Glacier Re's 2008 Nelson Re cat bond as the ratings agency determined the notes are unlikely to be hit by Windstorm Xynthia losses and are not negatively impacted by recent upheaval at the Swiss reinsurer.
  • ILS investors will have watched with interest as the US National Oceanic and Atmospheric Administration (NOAA) added to the consensus for above-average storm activity this year.