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The violations included not using propertly appointed adjusters and failing to pay claims. -
Lawmakers are seeking input on risk evaluation, limits and other concerns.
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The group claims the White House is undermining disaster preparedness.
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This is the first rate filing to use the recently approved Verisk model.
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The carrier also reported a slightly improved combined ratio of 94.6%.
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The company also purchased $15mn of SCS parametric coverage.
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The reinsurance CoR decreased 2.3 points to 79.5% while the primary CoR rose 4.7 points to 98.7%.
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The model becomes the second in the state to get approval to affect ratemaking applications.
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Mercury’s recovery from the guaranteed percentage of losses is $47mn.
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This brings the carrier’s total limit on the program to $1.8bn.
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Weatherbys Hamilton provides private client, bloodstock and farm coverage.
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The losses were below May’s $777mn, but almost 3x higher than for June 2024.
