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The revision is significantly lower than the $4.5bn October estimate. -
Modeling wildfires is particularly challenging compared to primary perils like hurricanes.
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This in turn gives carriers on a tower a little more liberty and less risk to optimize claim outcomes.
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They cover environment, political violence, equipment and cannabis.
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The CEO spoke after Chubb chief executive Evan Greenberg’s call to action at RIMS.
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Writing credit wraps for LitFin firms and steering third-party assets to them should stop.
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The industry is seen as “resilient” amid a volatile risk environment.
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Growth and returns on equity fall, but most of the industry is still profitable.
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Shares were down as much as 20% after Hippo posted a $48mn loss.
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The MGA market now makes up 10% of the overall P&C market.
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The carrier said it is prepared to drop asset managers, lawyers, banks and brokers.
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The market is also facing potential losses from injuries to NFL stars.
