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The program is designed to address a changing risk environment. -
Secondary perils are no longer so secondary, but the losses are already priced in for commercial property.
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Axis is retroceding $2.3bn of reinsurance segment reserves to Enstar.
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The program will offer liability coverage up to $5mn per occurrence.
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After seven years of premium rate growth, rates are down 5% to 40% across the US.
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The coverage will only be available in Illinois and Michigan at first.
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The program is being launched through subsidiary Southern Marine.
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The 12 insurers together have $418mn in policyholder surplus.
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Colorado State University is predicting 17 named storms, nine hurricanes and four major hurricanes.
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The costs of accident/casualty-related claims continue to rise.
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The Georgia verdict is one of many legal battles over Monsanto’s herbicide.
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Aviation reserve strengthening added 10.1 points to the combined ratio.
