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The figure does not include NFIP losses. -
The deal has reduced the carrier’s one-in-250-year cyber loss scenario from $651mn to $461mn.
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The CUO said the market must not try to recreate the conditions of 20 years ago.
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Former Stable underwriters William Ormerod and Patrick Tear have also joined.
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Sources expect significant loss amplification in the claims that will come from Georgia, the Carolinas and Tennessee.
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Tallahassee avoided a major hit – but flood and storm-surge losses remain unknown.
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The Corporation’s CUO said managing agents must ensure they manage the future differently to the past.
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Reinsurers will likely push for double-digit US premium rate increases.
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Francine has been the eighth Category 2 or larger storm to make landfall in Louisiana since 2000.
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A roundup of the breaking news, C-suite interviews and exclusive insights.
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‘Life-threatening’ storm surge and hurricane-force winds expected for the state, according to the NHC.
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Legal trends, the primary pricing micro-cycle and other factors all play into an opaque outlook.
