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In April, this publication revealed that the carrier is the lead market on the property placement for the bridge. -
The company says its insurance policies “include significant property and inventory coverage”.
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Overall economic losses hit $45bn in the first quarter of 2024.
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Flash floods moved into Texas overnight and into the lower Mississippi Valley Monday.
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Concern about vague cat modeling language was a theme at a Tuesday workshop.
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There is a high likelihood the property claim will be subrogated.
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The broker used a consensus-based hypothetical cat event type to analyse its global impact.
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The city alleges defendants knowingly allowed an “unseaworthy” Dali to set sail.
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US SCS accounted for nearly $11bn in global insured losses.
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This follows February’s cat losses coming in below the $150mn reporting threshold.
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Insured loss for Q1 was 10% higher than the decadal average of $18bn.
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The most extensive damage was caused by rainfall in Texas, Louisiana, Mississippi and Florida.
