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The program is aimed at affluent homes valued between $1mn and $6mn. -
This is the first rate filing to use the recently approved Verisk model.
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In an interview, the firm’s CEO spoke about the CV deal, growth and its M&A pipeline.
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The company plans to launch in New York and New Jersey next year.
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A shift to back to the admitted property space and MGAs choosing ignorance are other possible scenarios.
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California posted a 47% jump YoY, from a 28.4% rise in June.
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The model becomes the second in the state to get approval to affect ratemaking applications.
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Roughly half a year since the LA fires, brokers said there’s hope things are turning around.
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Mercury’s recovery from the guaranteed percentage of losses is $47mn.
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New business written premiums were up in the commercial and E&S segments, but decreased in personal lines.
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The company adjusts its rate options to expand California business under the new cat model.
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Insurers must write policies in high-risk areas in order to incorporate the model.
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