Homeowners' insurance
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Floir approved nearly 650,000 policies for takeout from Citizens for October and November. -
Moody’s also predicts losses to the NFIP at less than $200mn.
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A hurricane watch is now in effect for the Louisiana coastline.
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Eight Floridians will take on personal residential multi-peril and wind-only policies.
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Moody’s also predicts losses to the NFIP at less than $300mn.
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It had planned to non-renew 47,000 DP-3 and 53,000 high-risk homeowners’ policies this year.
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The proposed class says the plan does not cover smoke damage.
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It is understood that the goal is to use a capital injection to form a reciprocal.
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The groups highlighted technical hurdles to implementation at a Wednesday hearing.
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This is Emerald’s second facility, after its earthquake deal with Arrowhead.
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There was a 12% increase in flood sums insured to C$7.3tn.
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An “above average” hurricane season could spell disaster, but forecasts are not gospel.
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