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The firm said losses could fall under $300mn if more favourable assumptions were applied.
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The property market remains “one of the most favourable... I've seen in my career", he said.
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The event would represent a loss ratio impact of roughly 3%-10% on global cyber premiums of $15bn today.
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The weighted average direct financial loss for a Fortune 500 firm was $44mn.
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The carrier’s cyber hours clauses and sub-limits will limit exposure, according to the analyst.
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The current guidance is that Beazley will publish an undiscounted CoR in the low-80s at full year.
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Insured losses in the single-digit billions would not translate into a material impact for (re)insurers.
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The broker warned that D&O and P&C policies could also be impacted by the outage.
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CrowdStrike has an estimated 15%-25% market share among large companies.
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The incident highlights the aggregation risk around cloud service reliance.
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The modeller said 3 million homes were without power at its peak.
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The figure is well above the historical average of $39bn for this century.
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Allstate’s total pre-tax cat losses for H1 2024 were $2.85bn versus an estimated $4.39bn in H1 2023.
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Most of the losses occurred in Bavaria and Baden-Wuerttemberg.
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The losses come ahead of an expected active Atlantic hurricane season.
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The biggest losses were from wind damage after the storm’s Texas landfall.
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Uncertainty around the quantum remains due to policy deductible variation.
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Insurers' losses will likely be low and readily absorbed by their earnings.
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A roundup of all the news you need today, including the FCA’s new listing rules.
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Chief science officer Steve Bowen said it was still too early to provide precise insured-loss estimates.
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Houston mayor John Whitmire said: “We woke up this morning on the dirty side of a dirty hurricane.”
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Beryl has been downgraded to a tropical storm but is still life-threatening, with news media reporting two deaths so far.
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According to BMS, Hurricane Beryl is likely to be a retained event for most insurance carriers.
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Insured losses could be less than $1bn if current NHC forecasts are accurate.
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