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Though wildfire losses are up, total losses are the lowest since 2015. -
The governor has yet to sign a pending bill to create a public cat model.
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Jonathan Rinderknecht was arrested Tuesday on destruction of property charges.
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Seller White Mountains will retain a roughly 15% fully diluted equity stake.
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Winds have strengthened to 80 mph, and the hurricane is expected to intensify further over the next 48 hours.
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IAG completed its takeover of RACQ last month.
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The measures also seek to encourage greater wildfire mitigation efforts.
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The assistant treasurer is also due to review the Australian cyclone pool.
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Models anticipate a busier second half, particularly in the next few weeks.
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The carrier notified California regulators that it would stop renewing plans starting last month.
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The data modeling firm said losses previously averaged $132bn annually.
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The violations included not using propertly appointed adjusters and failing to pay claims.
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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.
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The suit claims billions of dollars are being illegally withheld.
