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The board of directors has voted for a 10% rate hike. -
Severe thunderstorms, mainly in the US, accounted for 70% of insured losses globally.
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The NHC has said there is potential for “historic heavy rainfall” across southeast Georgia and South Carolina.
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Insurers and victims must reach an agreement on how to handle the proceeds.
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The ‘life threatening’ hurricane has potential for “historic heavy rainfall” in the southeastern United States.
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The broker said less than 1% of companies globally with cyber insurance were impacted.
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Securities class actions are a perennial source of claims for D&O insurers.
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Over 75% of insured losses attributable to severe thunderstorms, flooding and forest fires.
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The firm said losses could fall under $300mn if more favourable assumptions were applied.
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The property market remains “one of the most favorable ... I've seen in my career,” the executive said.
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The event would represent a loss ratio impact of roughly 3%-10% on global cyber premiums of $15bn today.
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The weighted average direct financial loss for a Fortune 500 firm was $44mn.
