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Citizens approved an average 8.6% rate hike and decreases for one-fifth of policyholders. -
The state has seen 11 new entrants into the insurance market, reflecting renewed confidence.
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The company says the recent wildfires will be the costliest in its history.
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Standards and guidelines address institutional investors’ concerns over valuation risks.
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Homeowners’ insurance rates have spiked almost 60% since 2018.
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The bodies said that tapping into the cat bond markets was a possibility.
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The regulations are part of a state effort to expand wildfire coverage.
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The UK Local Government Pension Scheme (LGPS) has around £391bn in AuM.
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The cat bond application process will be streamlined to 10 working days.
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The effort will draw from California’s research and higher education communities.
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The ILS industry offered 11 points of merit that justify cat bonds being eligible for UCITS funds.
