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In part II of our series, we look at where AI is being integrated into claims departments.
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The carrier said market dynamics were shifting due to increased capacity.
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Mercury’s recovery from the guaranteed percentage of losses is $47mn.
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The loss ratio rose 1.9 points to 53.1%, while the expense ratio ticked up 0.6 points to 28.1%.
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The carrier had $20mn in reserve releases in the quarter, compared to nil in Q2 2024.
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This brings the carrier’s total limit on the program to $1.8bn.
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The lawsuit claims more than 100 employees left with Parrish and his three reports.
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Matthew Flynn joins from RenaissanceRe.
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Insured losses produced the second highest first-half tally since records began in 1980.
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Insight into the state of the insurance M&A market, powered by this publication's deal database.
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The carrier agreed to acquire Liberty Mutual’s P&C firms in Thailand and Vietnam in March.