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With the hurricane season having started, the ILS market needs to be as prepared as possible for the winds to blow. Bill Dubinsky, managing director, head of insurance-linked securities at Willis Capital Markets & Advisory, takes a look.
The official start of the hurricane season is an unofficial warning to those in North America and the Caribbean to make sure they are prepared. For insurers in the Florida market, the start of hurricane season is the time to have all risk transfer (whether backed by the Florida Hurricane Catastrophe Fund, traditional reinsurers or capital markets capacity) in place. Insurers also rededicate their claims handling teams to provide responsive service under high volume conditions.
For reinsurers and investors, it is time to finalise portfolios. Traders and intermediaries prepare for live and dead cat trading and review their post-storm strategies.
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