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The “magnitude” of claims could ease in future quarters, Argo CEO Kevin Rehnberg said.
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Warren Buffett said the company faces a more limited impact from the virus than some other insurers.
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The policy would have likely paid out due to the coronavirus crisis.
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The Floridian has strengthened reserves for attritional homeowner losses amid continuing impacts from assignment of benefits issues.
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The carrier said the market was in the early stages of rate change and it was hard to know how long improvements would last.
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The government secured a slight expansion in the level of cover obtained across the middle layer of the programme.
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Everest, Swiss Re, Aspen and other reinsurers were accused by Integrand of delaying payment of claims from Irma and Maria. -
The Independent Insurance Agents & Brokers of America expressed concern about the lack of a longer term solution for keeping the programme afloat.
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Terry Ledbetter will be replaced by president Matthew Freeman from 1 January 2020.
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The firm has settled with Fredricks and will enter binding arbitration with Belisle.
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Andrew Souter will be responsible for capital and reinsurance purchasing functions within the MGA.
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It is the sixth consecutive quarter of primary market increases, according to the organisation.
