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Severe convective storms accounted for 41% of last year’s insured loss load. -
In the food and beverage market, rates are falling by an average of 3%-4%.
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The carrier can claim separately for the Palisades and Eaton fires if necessary.
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The executive has also been made Syndicate 2015 active underwriter.
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The carrier has received more than 3,600 claims from LA wildfires.
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UK regional division CEO Steve Bashford has retired.
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There are many unknown factors including insurance gaps, high-value property and damage to critical infrastructure.
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The estimate has reduced slightly since the modeler’s last update in October.
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The appointment comes after the departure of Mark Benbow, who is joining Westfield.
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Mathieu Loisel joins the reinsurance broker from New Re.
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Nick Hawke is coming out of retirement to take on the position.
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The anticipated portion ceded to reinsurance may reach the mid-to-high single-digit billions, it added.
