Reinsurers were bracing themselves last week, according to one of Backchat's friends from the loss adjusting community.

Calling from Manchester Airport after hastily arranging a flight, the loss adjuster announced the reinsurance industry was going to be hit by Hurricane Michelle - literally.

Ready to board his jet to Bermuda, the loss adjuster said emergency phone calls had been made by reinsurers in Bermuda who were ready for Hurricane Michelle to hit their tax haven home.

But the flight was made in vain as the storm swept by Bermuda and hit Cuba instead - not that the loss adjuster minded. A few days in Bermuda checking risk management measures is always good for the soul.