A new catastrophic weather service has been put in operation that will provide insurers with 10-day predictions regarding the path and intensity of hurricanes and named tropical storms, it was announced.

The service, called WSI LiveCat Forecast, was introduced by Guy Carpenter & Company, LLC, and WSI Corporation, a provider of weather-driven business solutions.

The National Hurricane Center (NHC) provides a five-day forecast period for these storms, Guy Carpenter and WSI said. This new service, using meteorological models, "allows insurers to establish advantageous market positions days ahead of those relying on NHC information alone," the companies added.

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