As Hurricane Irene makes its way towards the East Coast, insurance and reinsurance companies are...

|By:, SA News Editor

As Hurricane Irene makes its way towards the East Coast, insurance and reinsurance companies are on edge. Macquarie's Amit Kumar thinks any losses north of $20B would "mark the tipping point" for the property catastrophe reinsurance market, producing a major overhaul of how the industry operates.