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Tangible evidence of downward pressure on ceding commissions is emerging in the US casualty and professional liability reinsurance market, following the placement of a number of deals leading up to the key 1 January renewals
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Berkshire Hathaway has the largest exposure on Pacific Gas and Electric's $850mn general liability programme, which could be significantly eroded by the Californian wildfires, The Insurance Insider can reveal.
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Underwriters face the prospect of mounting data protection-related liability claims following a landmark UK High Court judgment against Morrisons, experts have said.
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Asbestos loss trends have stabilised but remain a persistent drain on the US P&C sector, with an estimated $13bn funding gap between the $100bn projected total liability and the $87bn paid out or reserved for as of last year, AM Best data indicates.
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US auto insurers are expected to benefit from further rate increases that will feed through to the bottom line this year and into 2018, according to broker JLT Re.
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Advent has recruited two senior casualty underwriters from Acappella, The Insurance Insider understands
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Swiss Re has emerged as the largest reinsurer for the biggest Californian primary P&C writers, with nearly $2.0bn of premiums assumed in 2016 and reinsurance relationships with seven out of the top 10 regional insurers, analysis from The Insurance Insider shows
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What goes up must come down...
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Allianz Global Corporate & Specialty (AGCS) has promoted Yogesh "Yogi" Virji to lead its UK cyber team while hiring an additional underwriter from Principia Underwriting.
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As US casualty treaty market negotiations continue in the build-up to 1 January there is growing evidence that a number of leading reinsurers are exerting downwards pressure on ceding commissions that could drive a shift in pricing dynamics.
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Brit is withdrawing from the international professional indemnity (PI) market, The Insurance Insider understands.
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Starr has launched an accident and health (A&H) division in Canada with the appointment of two senior executives including Dave Claughton from AIG.