Livecat trading trigger points for Harvey rise

Demand for industry loss warranty (ILW) cover on Hurricane Harvey
has moved up to higher trigger levels as fears grow over the extent
of private market flooding claims.
On Monday 28 August, three days after the Category 4 storm hit
Texas, cover for $10bn triggers was being quoted.
By Friday 1 September, however, no sellers were willing to offer
cover below an industry loss of $20bn, said Patrick Gonnelli,
partner and global head of insurance-linked securities distribution
and trading at...