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The Cal Phoenix Re cat bond was the first cat bond to cover wildfire on a standalone peril, as well as the first third-party liability issuance.
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Casualty underwriters told this publication they were assessing their talc exposures after the Johnson & Johnson verdict but were not overly concerned.
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The consortium will offer A$50mn ($36mn) in capacity for middle-market risks that are normally written in the local markets.
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Giles Allen and James Glover are among five recent exits from the A&H team at Axis. -
The Golden State’s insurance commissioner has led efforts to close cannabis coverage gaps.
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Property, financial and professional lines recorded the largest rate increases in the period.
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Suzanne Black will take up the new role of head of liability.
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Carriers and MGAs are seeing increased demand for intellectual property (IP) cover as awareness grows around the inherent value in intangible assets
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The largest segment of the commercial lines market has had a sub-100 percent combined ratio three straight years.
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Property cat reinsurance rate rises still lag behind those of primary insurance, executives said during Q2 conference calls.
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The Hartford, Travelers and Chubb were questioned about talc exposures this earnings season following a court ruling against Johnson & Johnson.
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Only 7 percent of those surveyed buy insurance for intellectual property litigation risk now but one-third would do so in the future, the broker found.
