Chubb
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The facility is a nudge towards a structural change, not a full-out assault. -
Both Chubb and Zurich will underwrite the risks, with Nico as the sleeping partner.
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AIG, HDI Global and others have settled. Chubb’s fight continues.
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The facility provides up to $100mn in claims-made excess casualty coverage.
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The executive will begin serving as Hiscox USA’s CUO as of May 5.
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Of the $170mn cat losses outside LA wildfires, US cat activity accounted for 74% and international cats 26%.
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Reserve releases at Chubb rose to $255mn from $207mn a year ago.
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The executive has spent over 20 years at Chubb.
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A positive outcome could significantly curb insurers’ exposure to the loss.
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Joe Cala will leave the carrier after nearly 13 years on the product recall team.
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The decision comes after the agency refused to block a climate related vote at Travelers.
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Of the 178 passengers and crew on board, no serious injuries have been reported.
