Personal auto
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Storm surge of two to four feet could affect the North Carolina coast. -
Life-threatening surf and rip currents are expected on the east coast of the US.
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Despite mild headline CPI, some insurance-related items are heading in a worrying direction.
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July’s medical care increase was up from June’s o.6%.
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The gross loss ratio for the homeowners InsurTech fell by 12 points last quarter.
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The company reduced its proportional quota share program from 55% to 20% cession.
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The company also purchased $15mn of SCS parametric coverage.
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On Q2 calls, carrier executives called out fierce competition in various lines of business, and a misalignment of interest.
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CEO Roche said that “significant price increases” are still to come, however.
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The broker posted a 6.5% drop in organic growth YoY.
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Mercury’s recovery from the guaranteed percentage of losses is $47mn.
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Smaller accounts remain less affected by an influx of MGAs.
