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Third-party liability, product liability and pollution liability are the main affected lines in the cut back. -
Yesterday we broke the news that Liberty Specialty Markets had pulled out of UK motor treaty, as signs gather that 1 January will reveal this to be a hard pocket of the market.
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Strong balance-sheet growth, marginal operating performance, favourable business profile and appropriate enterprise risk management were factors in the outlook.
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Carrier seeks to mitigate regulatory risk around motor and is likely to cut US med-mal exposure.
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The mutual would provide capacity to a network of managing general agents, in order to increase options available for cannabis businesses.
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The MGA was unable to secure capacity for the three classes for 2020.
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Two professionals win the underwriter rankings and RKH Specialty’s Jason Rose climbs to the top of the broker podium.
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The US casualty market looks to have a major reserving problem as claims inflation picks up.
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Casualty has “a definite trend towards improving terms”, the head of casualty underwriting for the US and Canada said.
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The incident has prompted the filing of lawsuits over allegations that people were exposed to high levels of Butadiene.
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Nic Wood, who headed the team, is expected to join Canopius.
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The executive has held casualty positions at AIG, Ironshore and Endurance.
