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The deal echoes Lightyear’s earlier investment in Inszone Insurance. -
Howard and Moore were among a group to receive letters over links to prior insurance insolvencies.
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In operation since 1991, Pearl represents Ocean Harbor and Equity insurance companies.
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The industry loss data provider also increased its estimate for Hurricane Helene to $15.3bn.
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The insurer achieved an 86.4% acceptance rate of the policies selected.
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The release followed the filing of an updated Plan of Operation.
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The Floridian company applied to be traded on the NYSE.
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The 12 insurers together have $418mn in policyholder surplus.
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Universal submitted allegedly ineligible claims to the Florida fund.
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The bill being considered would effectively eliminate personal injury protection.
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The insurer has lined up Piper Sandler and KBW to run the process.
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Mangrove can take out up to 81,040 polices while Slide’s limit is 15,000.
