Cincinnati Financial
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The carrier said ~$170mn of the total expected losses came from the three March storms that affected several US states earlier this year. -
District Judge Elaine Bucklo granted The Cincinnati Insurance Company’s motion to dismiss the case.
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The Midwest derecho in late August accounted for about $103mn of the carrier’s quarterly claims tally.
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Nearly 1,000 insurance disputes over pandemic coverage were filed by the end of July, according to data highlighted by sister title Inside P&C.
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As many parts of the world start to emerge from lockdown, potential Covid-19 BI claims are yet to be tested.
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Physical damage requirements should protect the carrier, it argued.
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The insurer's losses approached 80 percent of the private cat bond's trigger.
