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The Floridian insurer remained in underwriting profit but recorded $4.3mn of prior-year loss creep.
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The entity has told brokers that its “minimum standards” on all terms and conditions will include exclusions for these perils. -
A now-defunct bill that would have banned “contingency risk multiplier” fees passed the House but survived just ten days in the Senate.
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Early firm orders showed similar levels of increases to 2019, but are not expected to be a strong benchmark in a fast-changing market.
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Insurers are increasingly turning to the state-backed reinsurer for capacity.
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Garamoni has left Chicago to join property cat-focused Orchid Insurance in Florida.
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The M&A deals were predominantly mergers, but there was some activity on the acquisition side as well.
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Bar claims its Lloyd’s policy covers BI losses from state-ordered shutdown.
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Mid-year is the next major possible exit date for ILS investors in illiquid strategies.
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CEO Bob Ritchie said entering the cat bond market offered stability for the company and policyholders.
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The pandemic financial crisis led to the M&A deal being dropped.
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The approaching three-year statute of limitations on Irma claims could prompt another spike in AOB issues, warned FedNat.
