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More than half of attorneys surveyed by the carrier said litigation finance has prolonged the time it takes to settle losses.
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Insurers have paid out $300mn for Hurricane Barry so far, according to the broker.
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Forecasts suggest the storm will track up China’s east coast before hitting the city on Sunday.
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Australian carrier says spring events have also eaten into its calendar-year aggregate deductible.
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The ratings agency said that greater cat exposure could increase future volatility.
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The carrier was hit by higher-than-expected man-made losses from aircraft incidents and plant fires.
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Cyber losses are always among the most-read stories on our site. Capital One is no exception.
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A benign loss period and reserve releases pushed the combined ratio down more than 14 points. -
Swiss Re’s medmal exit comes after ProAssurance’s warning last quarter of companies being “swept away by the tide”.
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A third of the portfolio is targeted for remediation, as a shift towards third-party reinsurance purchasing is signalled.
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The three Sunshine State carriers that reported earnings last week suffered operating losses in the quarter.
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Further details of the cyber placement show the risk is fairly evenly spread across the US, Bermuda and London markets.
