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The peril has been historically difficult to model compared to others. -
Insurers with SCS exposure reaped fewer benefits but still improved over Q3 2024.
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Despite a softening market, underwriters were still able to attain up to 10% above technical pricing.
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With property getting more competitive, FM pursued an opportunity for growth in E&S with Velocity.
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The deal to reopen the government also extended the NFIP.
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The executive said inflation isn’t completely gone but is now “more understood”.
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The credit can now be applied to mitigation against operational losses.
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The Marsh-placed account renews its all-risks cover on 16 November.
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Widespread underinsurance and low exposures will limit losses.
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While attritional losses were up for the quarter, those in the carrier’s core business declined.
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Many commercial risks will have London coverage, but insured values are relatively low.
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The NFIP expiration and a successful Neptune IPO got attention, but some reinsurers moved earlier.
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