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Reinsurance returns are pretty much at cyclical lows, with cat returns structurally squeezed and far less responsive to shocks than previously.
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The backstop scheme will complete its review of premiums by the end of September.
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Analysts at Bernstein believe July’s renewals will outperform increases seen in June, but rates in 2019 will flatten.
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Looser wordings in standalone cyber insurance mean the product is moving beyond what it was originally designed for, and could introduce systemic losses to the market, sources said.
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The direction and timing of the missive feels right - let's hope Lloyd's tackles syndicates' other issues with the same gusto.
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A tougher stance from local markets means brokers are having to work hard to place their property D&F accounts, sources said.
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There is a stronger belief that commercial insurance rates with be at or above the three-year average.
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The insurer will gain time to assess reforms aimed at the AOB crisis. -
Retail and construction are among the worst hit market segments.
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Earthquake capacity continues to grow and is now at an all-time high, seeing the same ugly pricing as elsewhere in the property sector, according to AmWins.
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The Corporation has warned syndicates to address unprofitable business or face closure.
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The Corporation must take action on underwriting discipline to protect the franchise.
