Reinsurance

RenaissanceRe announced the terms of the transaction.

Yutu is the 18th tropical storm to hit the Philippines in 2018 where about 20 cyclones pass through each year.

The last two years have shown that hurricanes are inevitable, but disasters are not.

One such job is insurance underwriter, which has a 99% chance of automation, according to research from Oxford University.

'It is going to do a heck of a lot of damage,' said Phil Klotzbach, a storm researcher at Colorado State University.

Man-made losses, including from the collapse of a bridge in Genoa, Italy, that killed 43 people, added $300 million.

Many structures did not withstand the fury of Hurricane Michael, leaving acres of flattened houses and other buildings in its wake.

The latest scenes of destruction from Hurricane Michael could generate better laws and regulations around the country.