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An estimated 683 homes have now been burned as a result of the blazes. -
Varying levels of Japanese exposure led to a wide range in individual fund returns.
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The typhoon is expected to reach Category 3 status by Tuesday local time, but the ILS cover is geared towards payouts for even stronger events.
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It used to be called “diworsification” – a phrase coined by Dowling analysts that took hold and became the industry's standard jargon for low-priced international catastrophe risk back around 2011.
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Late November flooding in parts of southeastern France and northwestern Italy follows an active year for weather losses in Italy.
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Nippon Steel is expecting to cede an 8bn yen property loss to the commercial (re)insurance market.
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Axis said the range was consistent with expectations that it would take on less than 1 percent of industry-wide claims from the catastrophe.
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The cover will be provided by a consortium of 56 insurers, according to reports.
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Losses could have eroded as much as 44 percent of the carrier's aggregate deductible.
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The General Insurance Association of Japan also announced 235,225 claims have been paid out for Typhoon Hagibis.
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Hudson Structured founder Michael Millette joins the board of directors after his company led the InsurTech’s latest funding round.
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A long-running inquiry is looking at proposals to set up a public cyclone reinsurance scheme to mitigate affordability concerns.
