Darag agrees on loss portfolio transfer for $250mn of reserves with Lyft captive
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Darag agrees on loss portfolio transfer for $250mn of reserves with Lyft captive

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Legacy specialist Darag has struck a loss portfolio transfer agreement with Lyft’s captive insurer, Pacific Valley Insurance, to cover its commercial auto liabilities.

The agreement, which involves reserves of around $250mn, will predominantly cover excess layers of commercial auto liabilities which occurred from 1 October 2018 to 30 September 2020, mostly from an excess layer for policies with a limit of $1mn...

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