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Assets under management in UCITS cat bond funds stood at $17.8bn as of 7 November, according to data from Plenum Investments. -
Newsom has yet to sign a pending bill to create a public cat model.
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The measures also seek to encourage greater wildfire mitigation efforts.
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The violations included not using propertly appointed adjusters and failing to pay claims.
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The group claims the White House is undermining disaster preparedness.
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The model becomes the second in the state to get approval to affect ratemaking applications.
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Insurers must write policies in high-risk areas in order to incorporate the model.
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The consultation period around UK ISPVs was opened in November last year.
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The proposed reforms are designed to put the UK’s regulatory framework on par with Bermuda and the US.
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Managers believed end-investors value diversification and non-correlation of cat bonds over liquidity.
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The suit claims billions of dollars are being illegally withheld.
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The PRA will also have to report on turnaround time for new approvals against 10-day and six-week targets.
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State legislation has led to major strides in rate adequacy.
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We discuss progress in collateral management with our Outstanding Contributor winner.
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The recommended “AIF lite” structure could be suited to cat bond lites.
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Initial responses to ESMA’s report welcomed the long timeframes for any changes.
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The measure could have landed insurers with extra tax on US business.
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The body said cat bonds are closer to an insurance product than a security.
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The Peak Re subsidiary mainly writes US motor and casualty reinsurance.
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Florida’s top regulator says he’s eyeing eventual tweaks to the state’s cat fund, too.
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California homeowners are also expected to move admitted business to E&S.
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The announcement spurred a quick spike in stock market valuations.
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The agency said introduction of a new methodology will depend on the feedback it receives from the ILS market.
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Commissioner Lara also proposed a $500mn cash infusion from parent State Farm.
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