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The carrier’s Eaton Fire loss would be a retained net loss hit. -
At 1 January renewals, prices dropped 5%-15% for loss-free programmes.
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Aviation premiums have been described as “woefully inadequate” considering rising liability losses.
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The Bermudian’s wildfire loss estimate was based on an industry loss range of $35bn-$45bn.
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The council has begun gathering data to assess the insurance impact.
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The company’s reinsurance business also has some exposure, the executive said.
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This follows a ruling to declass the representative proceeding filed against IAL.
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Plus, the latest people moves and all the top news of the week.
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The carrier has around $2.5bn-$4bn of reinsurance cover specifically for California risk.
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The Floridian also expects to report its “best earnings quarter” for Q4 2024.
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Secondary perils accounted for 65% of global insured losses in 2024.
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The figure does not include specie or auto losses.
