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While more storms than usual are expected for this season, Guy Carpenter said fewer are expected to strike land. -
The exit follows news earlier this year that founding CEO Chris Fagan was stepping down to be replaced by Bruce Hemphill.
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The deal combines the two major mobile telematics companies, which will now cover 21 of the 25 top US auto insurers.
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Tractable has raised $60mn in its Series D funding round, fuelling a global expansion – including into markets where it will help carriers assess property damage.
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Corant president Andy Wallin will run the broking segment, while Corant CEO Steve Hearn will lead a unit the includes reinsurance.
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The revelation came with the release of the institute's 2021 Resilience Index.
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The former underwriter will take up the newly created role on 9 August.
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Outside the US, two Indian cyclones are expected to have caused more than $4.5bn of economic losses.
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The Malta-based start-up buys Isle of Man-based VA Insurance Services from Thomas Cook, which is in liquidation.
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Lockdowns led to improved performance in 2020, but FCA reforms are likely to help reduce premiums in 2021.
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The broker predicts a “very active” cyclone season over east Asia but forecasts a slightly smaller number than usual will make landfall.
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The operation will be the lead carrier for business Marco writes in the EU.
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