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The company plans to launch in New York and New Jersey next year. -
American Integrity grew GWP by 30% to $287mn and Slide GWP was up 25% to $435mn in Q2.
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The company also purchased $15mn of SCS parametric coverage.
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The reinsurance CoR fell 2.3 points to 79.5% while the primary CoR rose 4.7 points to 98.7%.
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The model becomes the second in the state to get approval to affect ratemaking applications.
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Mercury’s recovery from the guaranteed percentage of losses is $47mn.
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This brings the carrier’s total limit on the program to $1.8bn.
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At least 14 new companies have opened up shop in the state in recent years.
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Insurers must write policies in high-risk areas in order to incorporate the model.
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The losses were below May’s $777mn, but almost 3x higher than for June 2024.
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The suit claims billions of dollars are being illegally withheld.
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The US accounted for 92% of all global insured losses for the period.
