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Cedants were able to “challenge the status quo” with aggregates back on the table, the broker said. -
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Property rates are coming under further pressure, while liability is being buoyed by ongoing challenging loss trends.
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The cost comes in at $530.6bn, roughly $20mn lower than budgeted.
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The impact of SAM claims is reverberating through the tower and the broader marketplace beyond hospitals.
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Coverage has broadened while limits have increased, the broker said.
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The medical care index numbers were below April’s 0.5% rise.
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Increases dropped to 5.3% from 5.6% for the previous quarter.
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Insurers have termed the Democrat-backed legislation “flawed”.
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Catastrophe losses in Q1 exceeded $50bn, the second highest on record.
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Companies often purchase policies with limits far exceeding their actual exposure needs.
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A 20% increase in FHCF retention levels sent cedants to the private market.
