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  • Acquisitive broker Hub International has gone back to the land of its origins and bought Integro Group’s Integro (Canada) Ltd unit, including executives Mark Rankin and Robert Dunn.
  • State Auto may try to sell its excess and surplus lines (E&S) business, including its Rockhill subsidiary, the US carrier said today.
  • Congress passed a $15.25bn hurricane relief measure that includes a three-month extension of the National Flood Insurance Program, or NFIP, as well as funding to prevent its governmental parent, the Federal Emergency Management Agency, from running out of cash.
  • Legacy acquirer Darag has completed a legacy transaction in Israel with an undisclosed insurer, the first of its kind in Israel, according to the firm.
  • Hurricane Irma weakened to a category 4 storm overnight as it churned its way through the Caribbean as forecasters put it on a more westerly track, indicating it is less likely that the eye of the storm will pass over Miami.
  • Florida-based carriers have sponsored about $1.9bn of cat bonds across a wide range of risk levels, but the bulk of the cat bond portfolio threatened by Hurricane Irma is made up of multi-peril issuances with national US exposure.
  • After the forecast track of Hurricane Irma edged west, RMS has said that preliminary modelled estimates suggest there is a 90 percent chance that insured wind losses from the storm will be less than $85bn
  • Florida is truly the reinsurance market's risk hothouse. Its coastline produces the bulk of the ILS market's exposure and Florida risks still squeeze out more profit for reinsurers than many other lines of business
  • Karen Clark, CEO of the eponymous modelling firm, has highlighted the disparity between most insurers' probable maximum loss (PML) models for a one-in-100-year event and the likely insured cost of a direct hit on a populated aarea
  • At last year's largely uneventful Napslo annual convention in Atlanta the talk at the bars was of a merry-go-round of underwriting execs in the E&S property space