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The company hired Ambac’s Scott Snyder as president of fronted programs. -
The 2020s is the key decade for action to limit global warming and its impacts.
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Cyber reinsurance premiums may exceed those of property cat by 2040.
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The move reflects the firm’s growing interest in risks beyond nat cat.
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The issuance will be the fifth time to market in FEMA’s cat bond series
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This is the first natural catastrophe loss under the World Bank series of ILS deals since 2019.
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Another pandemic outbreak came in fourth place, with 22% of respondents saying they were worried about further health and workforce issues and movement restrictions in 2022.
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Some programs had to be restructured as rates hardened and capacity flowed away from cat risk in some cases.
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As the renewal is expected to spill over into 2022, the two-speed market will put pressure on retro-reliant carriers.
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The change in plan comes as Lloyd’s restricts cyber growth.
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CyberCube forecast further capital market capacity will hit the cyber insurance market next year.
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The firm’s estimate fell at the lower end of the range for historic Top 10 tornado events.
