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The LA wildfires, however, will be the firm’s largest event to date. -
Imported goods account for 30%-50%+ of materials used for HNW homes, versus 15%-25% in standard houses.
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The counties make up for the majority of the state’s high net worth market, sources said.
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The coverage will only be available in Illinois and Michigan at first.
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The MGA recently secured capacity to write HNW homes in California.
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Four cat modelers have also submitted their tech for regulatory review.
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The carrier is only going to write new business on E&S paper, sources said.
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Under the new guidelines, the carrier is requiring more distance from the brush.
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Former PRS president Ana Robic was promoted to regional president.
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Insureds often just want cover in place at the lowest price possible, and insurers oblige under the skeptical eye of regulators.
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RenRe gave the highest anticipated market loss of $50bn.
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After a period of re-assessing risk appetite, underwriters were signalling growth again – that was, before the fires.
