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The executive told analysts that reinsurance rates are starting to climb in certain areas, offering opportunities. -
Bushfires losses still dwarf claims from the other five major events to afflict Australia since October.
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Chaucer leads the standalone cover, bought after the Chilean retailer’s property policy excluded the risk.
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Property, aviation and marine cargo were among the fastest risers.
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The carrier said rates were not responding adequately to claims and loss creep.
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Reserve strengthening across the unit housing Antares pushes the underwriting ratio further into the red.
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Current rules allow lawyers in some insurance cases to collect up to 30 times what an insured is awarded for a claim.
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Claims made from the 2017 hurricane in December impact its 2017 portfolio.
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Disruption in P&C markets is expected to boost demand for captive services.
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The World Bank's pandemic insurance bond covers the virus, and is designed to trigger if deaths impact multiple nations.
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The stock-performance-related plan comes as the carrier extends Dominic Silvester's contract, and those of the president and COO, by three years.
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Our (re)insurance benchmark largely shrugs off wider equity-market losses driven by coronavirus fears.
