Claims trends
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The broker said insurers were facing increasing pressure to improve financial performance in claims. -
The recent Iumi conference highlighted the impact of waning globalisation and tariffs.
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The ratings agency was presenting its outlook ahead of the Monte Carlo Rendez-Vous.
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Emerging lawsuits and expanding loss triggers are giving rise to potential claims under a range of policies.
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Plus, the latest people moves and all the top news of the week.
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Claims were concentrated in the US, with a significant increase in D&O class actions.
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Ex-Tropical Cyclone Alfred has been the costliest event, with A$1.36bn in losses.
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Errors and omissions claims made up 55% of all notifications, continuing a five-year trend.
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Although US pricing is improving there is pressure in other geographies.
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SRCC exposures are being studied more closely but fixing aggregation issues is a challenge.
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Coverage has broadened while limits have increased, the broker said.
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More players are looking to the class in a bid for top-line growth.
