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Quota share commissions are under pressure amid changing buying patterns. -
The ratings agency said improvements in cyber hygiene, underwriting and policy language were contributing factors.
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The multiline MGA was co-founded by Lea's fellow Vantage alum Farhan Shah.
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Vanessa Maxwell will remain global head of financial lines.
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The global nature of cyber means a UK ransomware pay license would have "no material impact" locally.
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The MGA has added Scor and Argenta’s syndicates to its panel.
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Cyber insurance rates for UK clients dropped 12% on average, Marsh said.
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The Incyde Risk facility will provide up to $25mn in capacity on a primary and first-excess basis.
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The updated framework from the Corporation provides less “scope creep”, said CUO Rachel Turk.
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Since 1 January, the market’s potential descent into freefall has been closely watched.
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Parametric triggers are likely to involve financial losses and a number of impacted businesses.
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Cyber physical damage cover has also been added to the facility.
