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Opinion: AOB reformers face lawyer backlash

Florida lawmakers recently began another effort to rein in abuses of the Sunshine State's assignment of benefits (AOB) policy, which lets repair contractors stand in an insured's place in pursuing claims for things like non-storm-related water damage.

Ted Bunker, 17 November 2017
RMS suggests rivals overstated Maria losses

Catastrophe risk modelling group RMS has suggested that insured losses from Hurricane Maria could be lower than some observers had feared as it reiterated its forecast loss range of $15bn to $30bn

Bernard Goyder, 17 November 2017
Canal signs State National guarantee deal after downgrade

Recently downgraded Canal Insurance Company has agreed a deal with State National that lets it offer insureds that would typically require A rated paper a guarantee of its policy obligations, The Insurance Insider can reveal.

David Bull, 17 November 2017
MS Amlin discloses £398mn of cat claims

Catastrophe losses pushed MS Amlin to a net loss of £324mn ($428.9mn) for the six months to 30 September, against a £38mn profit in the prior-year period, according to filings from parent MS&AD.

Charlie Thomas, 17 November 2017
Cat losses force Tokio Marine to cut forecasts

Tokio Marine Holdings has downgraded its result forecast for the current fiscal year after natural catastrophe losses

Charlie Thomas, 17 November 2017
Correction: Sompo books $736mn in hurricane losses

Adjusted profit at Sompo fell 62 percent year-on-year in the six months to 30 September as claims incurred from the North American hurricanes pushed its international insurance operations to a loss.

Laura Board, 17 November 2017
Chaucer applies for Dubai licence

Lloyd's carrier Chaucer is preparing to set up an operation in the Dubai International Financial Centre (DIFC).

Bernard Goyder, 17 November 2017
Opinion: Tax tribulations

Urged on by President Donald Trump, the US House of Representatives passed a corporate tax cut yesterday that would save businesses more than $1.45tn and could boost P&C insurers' earnings by an estimated 12 to 14 percent

Ted Bunker, 17 November 2017
O’Brien leaves Ironshore environmental

John O’Brien has left his position as CEO of Ironshore’s environmental unit six months after the carrier’s acquisition by Liberty Mutual closed.

David Bull, 17 November 2017
Markel’s Crowley and Waleski set plans to step down

Markel vice chairman Mike Crowley will retire at the end of December, transferring his responsibilities and key relationships to colleagues through the course of next year, the US insurer has revealed.

David Bull, 17 November 2017

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