US Southeast/Gulf
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Many commercial risks will have London coverage, but insured values are relatively low. -
Economic losses from the Cat 5 storm could run 30%-250% of the country’s GDP.
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The insurer of last resort currently has $2.15bn of cat bond protection on risk.
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The tropical cyclone is expected to be named Imelda.
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Despite the formation of Gabrielle, there is "a very high probability" of a below-average season.
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State legislation has led to major strides in rate adequacy.
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Category 4 and 5 storms could become more common and hit further north.
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Despite predicting fewer hurricanes, the numbers are still above average.
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PCS's loss estimate for the March Missouri SCS pushed the bond beyond its exhaustion point.
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Most of the losses are attributable to a supercell storm in Texas.
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TSR previously predicted activity slightly below the 1995-2024 average.
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The agency forecasts up to five major hurricanes and 19 named storms.
