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For years, Florida attorneys have utilized one-way attorney fees and assignment of benefits to bleed the insurance market of thousands of dollars.
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The new CEO is perpetuating what has worked in his predecessor’s strategy and refining certain elements.
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American insurance broker Hub International is working with investment bank Morgan Stanley to sell a minority stake in itself in a $25 billion deal.
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Macro forces are set to challenge the structural advantages which have boosted the MGA sector in recent years.
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The $500mn puts PCF in a position to pay substantial earnout liabilities, but also means it must find a way to get growth to outpace the coupon.
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Management of the insurance broking business should seek to seize the opportunities of independence with both hands.
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The move fits the broader strategy around dampening volatility, but sourcing capacity in the US domestic market will be tough.
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As we stand today, the InsurTech consolidation prophecy has not come to pass, even after a period of tanked valuations and dwindled access to capital.
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If January’s trends are any indication, the next step for Florida’s plaintiff attorneys will be to redirect their efforts to another piece of the market.
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A canvass of Florida executives by Inside P&C suggests glimmers of an improved claims environment ahead.
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Increased cost of capital is cooling tuck-in M&A, encouraging a pivot to organic growth and forcing greater creativity around financing.
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The proposed change could disrupt M&A at brokers, shift the calculus in favor of team lifts and dial up C-suite focus on becoming an employer of choice.