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If the claim does indeed pay out, it has been suggested it will be the largest in R&W market history. -
Meanwhile, war premiums for calls into Israeli waters are expected to rise substantially from a low base.
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The company’s Las Vegas casinos were hit by a cyberattack last month where employee login details were stolen.
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Wildfires in British Columbia were the largest of 11 catastrophe losses for the insurer.
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Rate changes across the aviation all-risk and war markets remain wildly divergent during the key Q4 renewal period, sources told this publication.
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Avenue Capital-backed Greylag claimed that insurers denied coverage of the two lost aircraft, which have a value of nearly $110mn and $120mn, respectively.
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The lessor will continue to pursue its litigation in the Irish courts under its own insurance policies.
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Loss data going back to 2000 reveals that severe convective storm plays an “ever more important role” in cat losses.
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Several London insurers, including Tokio Marine Kiln, Axa XL, Munich Re, Starr International and Chaucer, are named in the new case.
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The final report said the majority of the losses occurred on Kyushu Island with 74% of the total industry loss.
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The worst-case scenario of a $12bn-$15bn claim looks to have been taken out, but there are lots of complex, vexed negotiations still to come.
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According to the National Hurricane Center, Lee made landfall at Long Island, Nova Scotia, on Saturday.
