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Moretti has relocated to California from London. -
Scott was most recently head of claims at MGA Geo Underwriting.
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The insurer of last resort currently has $2.15bn of cat bond protection on risk.
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Jonathan Rinderknecht was arrested Tuesday on destruction of property charges.
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Declared events totalling just under A$2bn ($1.3bn) included one cyclone and two floods.
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Despite a rocky H1, 2025 insured losses from nat cat events may not surpass 2024 levels.
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The ratings agency cited a reduction in exposure to nat cat risk as a reason for the change.
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Winds have strengthened to 80 mph, and the hurricane is expected to intensify further over the next 48 hours.
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According to McKinsey, the projected spending on data centers is expected to hit $6.7tn by 2030.
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The tropical cyclone is expected to be named Imelda.
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Plus, the latest people moves and all the top news of the week.
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After losing in the High Court, insurers pin their hopes on the Court of Appeal.
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Equivalent to a Category 5 hurricane, Ragasa is the world's strongest storm this year.
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The report highlighted the gap between insured and uninsured attacks is widening.
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The toll of risk losses sustained by the PVT market this year is mounting.
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Despite formation of Gabrielle, there is "a very high probability" of a below-average season.
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The major storm is set to move on to mainland China later in the week.
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The economic loss from the event was around EUR7.6bn.
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The 2024-25 period has been the worst on record for claims, with costs of $775mn+.
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The broker said insurers were facing increasing pressure to improve financial performance in claims.
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This publication revealed in February the incident was expected to lead to a major claim.
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The recent Iumi conference highlighted the impact of waning globalisation and tariffs.
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The measures also seek to encourage greater wildfire mitigation efforts.
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Plaintiffs allege that manufacturers and retailers have broken environmental laws.
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The Berkshire subsidiary is seeking coverage for a $22mn antitrust loss.
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Losses were primarily driven by personal property lines.
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From aviation claims to retention challenges, underlying dynamics will take time to play out.
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Models anticipate a busier second half, particularly in the next few weeks.
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The carrier’s chief buyer urged a partnership approach from reinsurers.
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Bazan Group’s refinery near Haifa was badly damaged by Iranian bombardment in June.
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The aviation market may prove an outlier following a disastrous year of loss activity.
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Supply for property outstrips demand, but the casualty market is “bifurcated”.
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Despite rate reductions accelerating, the sector-wide combined ratio is set to remain below 90% through 2027.
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The executive said claims can be a differentiator in a softening market.
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The ratings agency warned negative PYD on US casualty will likely continue.
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The ratings agency was presenting its outlook ahead of the Monte Carlo Rendez-Vous.
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The firm has also updated the loss-calculation engines of existing Jeannie tools.
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Submission volume is up 10%-20%, according to sources.
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The group claims the White House is undermining disaster preparedness.
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The US has been lucky over recent decades to avoid a $100bn insured hurricane event.
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The broker said 2026 will bring a “cautious but deliberate” aviation reinsurance environment.
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She was most recently claims manager at QBE France.
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The company was hit with a data breach on July 16.
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Matthew Budd has over 30 years’ claims experience and previously worked for Talbot and XL.
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The carrier booked top-line growth of 2% in H1.
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Rates were down 3.9% across its portfolio in the first half of 2025.
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The estimate covers property and vehicle claims.
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Steven Crabb will become deputy chairman on the insurance solutions division.
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This publication revealed two years ago that EQT could lodge a $1bn claim.
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The syndicate now predicts a return on capacity for 2021 of between -5% and 5%.
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Both organisations still predict an above-average hurricane season.
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The carrier cited elevated cat and large-loss activity, including the LA wildfires.
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The forecast has increased since the early July update due to several additional factors.
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The carrier’s overall P&C combined ratio improved 1.8 points to 91.2%.
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Written premium increased by 31% to $2.41bn as top-line growth brought expense ratios down.
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AIG leads the all-risks cover and Axa XL is the hull war lead.
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California wildfires account for $40bn of the insured loss tally in H1.
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Emerging lawsuits and expanding loss triggers are giving rise to potential claims under a range of policies.
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Aviation reinsurance reserving issues will also be a broader focus for the market.
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The claim could add pressure to the hull war market after a recent High Court ruling.
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The CEO said business remains adequately priced in most classes.
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The carrier is reducing its exposure to quota shares and shifting to XoL.
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Millions are evacuating after one of the strongest earthquakes in modern history.
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Mercury’s recovery from the guaranteed percentage of losses is $47mn.
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Insured losses produced the second highest first-half tally since records began in 1980.
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The figure updates an April estimate of EUR696mn.
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Bridges joins from QBE, where he spent over 17 years.
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Some 185 credit claims were reported in the market, totalling over $400mn.
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Liberty Mutual, Allianz and Aviva previously had their appeals dismissed.
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The impact on the (re)insurance market has been muted due to its strong capital position.
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Plus, the latest people moves and all the top news of the week.
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Claims were concentrated in the US, with a significant increase in D&O class actions.
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Despite steep rate hikes, premium volume has held steady as players such as SpaceX self-insure.
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The losses were below May’s $777mn, but almost 3x higher than for June 2024.
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Questions remain over regulatory touch, capital requirements and tax benefits
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The suit claims billions of dollars are being illegally withheld.
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The US accounted for 92% of all global insured losses for the period.
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US events accounted for more than 90% of global insured losses.
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State legislation has led to major strides in rate adequacy.
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Category 4 and 5 storms could become more common and hit further north.
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Claims chiefs are caught between technological advancement and waiting for phase two
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Despite predicting fewer hurricanes, the numbers are still above average.
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The weather-modelling agency is predicting a below-normal season.
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Sources said the downstream energy market is unlikely to turn a profit in 2025.
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Marsh’s property book saw an average decline of 9% in Q1, a trend that appears to have continued through Q2.
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Bridges had been at QBE for 17 years.
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The claims specialist spent 30 years at Amlin before joining TFP.
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Plus the latest people moves and all the top news of the week.
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Gallagher, Marsh and Aon also faced sizeable outstanding premium payments as at Q4 2024.
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The late March storm caused extensive damage in southern Quebec and Ontario.
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The claim hits the downstream market following a loss-hit start to the year.
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The Australian carrier’s nat cat losses are A$200mn lower than its annual allowance.
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Ex-Tropical Cyclone Alfred has been the costliest event, with A$1.36bn in losses.
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The company said the reduction was due to years of steady improvements.
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The aerospace, energy and marine markets all sustained multiple significant losses in H1.
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The ruling comes as insurers face growing legal pressures following the January blazes.
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There has been an uptick in UK retail firms buying cyber after a string of attacks.
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There is a growing disconnect between risk and pricing in the class.
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In North America, the median W&I claim payment in 2024 was $5.5mn, the highest on record.
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David Turner previously spent more than 30 years at Amlin.
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Errors and omissions claims made up 55% of all notifications, continuing a five-year trend.
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Although US pricing is improving there is pressure in other geographies.
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The firm believes UK support for policyholders is under-served compared with the US.
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SRCC exposures are being studied more closely but fixing aggregation issues is a challenge.
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Air India has a multi-year insurance arrangement in place.
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Allstate attributed the bulk of its losses to three major wind and hail events.
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The Beazley CUO said geopolitics would determine cyber market pricing.
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Coverage has broadened while limits have increased, the broker said.
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Western insurers do not insure Iranian risks, with the country subject to sanctions.
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This is up from last year’s $1bn protection for its Florida treaty.
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There is the prospect of fragmented appeals and uncertainties around reinsurance recoveries.
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Sources told this publication the hull of the aircraft is valued at $80mn.
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The protection gap is calling into question the relevance of the insurance industry.
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In April, the loss modeller pegged losses at A$2.57bn.
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The carrier said it is disappointed with the English High Court’s decision.
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The UK High Court has ruled in favour of lessors in the multi-billion-dollar dispute.
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Future claims handlers could be "bionic adjusters” empowered by technology.
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The London market is not expected to shoulder the bulk of the eventual loss.
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The loss has decreased by 0.3% since the company’s third assessment.
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The number has expanded by around 40% from an earlier update, sources said.
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