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The legislation would restrict attorney fees in AOB cases.
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The carrier also appointed former PartnerRe executive Dick Sanford as president.
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As the $1.5bn deal completes, the bulk of senior staff from Tokio Millennium Re will leave the firm.
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The overwhelming majority of claims have come out of Bay County, the Florida Office of Insurance Regulation said.
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The Insurance Council of Australia said more than 22,204 claims had been filed in connection with the floods.
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Last year was the first since 2014 to see an increase in negative ratings actions, AM Best said.