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The facility will write management, financial and professional lines. -
The event would represent a loss ratio impact of roughly 3%-10% on global cyber premiums of $15bn today.
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The market is expected to seek additional exclusions around systemic events.
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Scor guided to a EUR400mn insurance result loss earlier this month.
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The property CoR improved by 9.1 points, while casualty and specialty’s fell 5 points.
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Most recently, Richard Harries was CEO at Atrium Underwriters.
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The development follows news that Kentro Capital CEO Colin Thompson has resigned.
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The weighted average direct financial loss for a Fortune 500 firm was $44mn.
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A roundup of all the news you need today, including Parametrix’s estimate of insured losses from the outage.
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The quarter was the first period where prices didn’t increase since the third quarter of 2017.
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The move comes amid elevated personnel movement in the energy sector.
