Insurers
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Plans include a new definition of commercial customers and lead insurers compliance only. -
The carrier’s share price dropped 3.6% on its Q1 results.
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The carrier will focus on mid-market business outside of Lloyd’s.
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The product protects insureds outside of warzones from conflict-related cyberattacks.
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The Willis-brokered coverage also includes the Willis CyXS facility.
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The group said corporations face geopolitical and climate risk.
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New capacity continues to enter the hull market, and rates are falling.
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Tropical Cyclone Alfred and Queensland flooding brought thousands of claims.
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The carrier incurred claims from LA wildfires and flooding in Queensland.
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The final month of the year saw an unusually high number of claims.
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The carrier’s estimated first event limit could increase 16%, to $1.35bn.
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The business is looking to grow its marine offering across its global platform.
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