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The estimate covers property and vehicle claims. -
A shift to back to the admitted property space and MGAs choosing ignorance are other possible scenarios.
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Both organisations still predict an above-average hurricane season.
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As the fires spread, the priority shifted from saving structures to saving lives.
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The forecast has increased since the early July update due to several additional factors.
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California wildfires account for $40bn of the insured loss tally in H1.
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The risk of cyber incidents that cause physical damage is also rising.
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Reinsurers are mostly aligned on cat reinsurance, but goals are otherwise diverse.
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This follows last month’s takeout of 12,000 Citizens policies.
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The CEO said business remains adequately priced in most classes.
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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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The carrier is reducing its exposure to quota shares and shifting to XoL.
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