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The fires continue to sweep across the state but the Carr blaze is coming under control.
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Heritage had to boost reserves for non-hurricane losses while HCI underestimated its Irma hit.
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Twister churns through Queens section stripping siding and crush cars.
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The Floridian insurer said non-hurricane weather losses contributed to Q2 net income dropping by 64 percent to $2.41mn.
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The proceeds will be used in part to repurchase up to 1 million Class A shares.
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The development follows a similar move by fellow Floridian Universal.
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The fire is now estimated to have destroyed some 1,546 structures and is threatening a further 1,658.
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The business suffered from a challenging motor market in Canada and higher weather losses.
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News that 2018 will likely be the fourth hottest year and that the only more oppressive ones have been 2015, 2016 and 2017 leads me to believe that the record heat and what it has helped create – more flooding, more hurricanes, more tornadoes – just may be saving the insurance industry.
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The MGA has also lined up insurance capacity from Everest Re's Lloyd's syndicate.
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The Federal Emergency Management Agency engaged Hannover Re for the 3-year issue.
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An earlier appeals court ruling said Travelers policy covers fraud by email.
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