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Prices for reinsurance, which primary insurers buy to help them shoulder risks, have fallen in eight of the past 10 years, according to a property-catastrophe index compiled by Guy Carpenter. (Photo: iStock)

(Bloomberg) – It won’t take another Hurricane Katrina for reinsurers to face losses from covering the cost of storms and earthquakes. Competitors such as hedge funds have eroded prices so much that a typical year of claims could move the industry into losses.

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