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Some pointed to low average costs to fix burst pipe claims, while others warned that BI could drive up losses. -
Mathias Neumann was chief underwriter of casualty and specialty at the Japanese company.
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The vast majority of the losses come from BI, with other losses stemming from life, travel and event cancellation.
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Market sources report an uptick in competition to secure accounts as clients sought optimum deals in a challenging market.
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Plus an update on European (re)insurer results and all this week’s top news.
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The carrier reported “significant claims provisions” following the judgement in the FCA BI test case.
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The CEO lays part of the blame for the UK’s Covid-19 BI woes at brokers’ door.
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Insiders Mark Appleton and Thomas Stamm take new roles as the carrier expands management of the line beyond Hanover.
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The continued expansion comes amid tough competition for talent in the hard D&O marketplace.
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The EU’s chief insurance supervisor advocates adding on pandemic to existing national schemes.
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A Lloyd’s report warns that increasing digitisation makes key infrastructure assets more vulnerable.
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An underwriting loss at the international segment eclipses a profitable performance from MENA personal lines.
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