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The late March storm caused extensive damage in southern Quebec and Ontario. -
The company said the reduction was due to years of steady improvements.
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The ruling comes as insurers face growing legal pressures following the January blazes.
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There are now 14 new companies writing homeowners’ policies in the state.
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The cost comes in at $530.6bn, roughly $20mn lower than budgeted.
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The carrier said the cuts will help it to become a “simpler, digital-led business”.
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Allstate attributed the bulk of its losses to three major wind and hail events.
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The £3.7bn deal was announced in December.
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This is up from last year’s $1bn protection for its Florida treaty.
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HCI secured three towers with $3.5bn in XoL coverage.
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The Floridian also secured $352mn of multi-year coverage extending to 2027.
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It previously predicted activity slightly below the 1995-2024 average.
