Livecat market locks up as Irma fears grow

The Livecat market, which sees industry-loss warranties (ILWs)
bought and sold before a windstorm hits, has frozen after a few
trades at $30bn-$40bn triggers yesterday as fears grow that
Hurricane Irma could make landfall in Florida as a major storm.
If Irma, which is currently a Category 5 storm, strikes the
Florida coast and impacts either Miami or Tampa then the total loss
burden to the industry could spiral well beyond $100bn.
Hiscox's realistic disaster scenario for a 1-in-100-year
Florida.