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The first round of the E&S boom has already played out, but this is a long game.
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State Farm General has asked California regulators for an emergency rate increase.
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In the absence of interim action, the segment could face an “availability crisis”.
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Big tort reform packages are on the table, but California steals the show, for now.
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The carrier has paid $1.75bn on around 9,500 claims filed from the wildfires.
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The proposed reforms are championed by Governor Brian Kemp.
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Berkshire Hathaway’s "float" rose to $171bn in 2024 from $169bn in 2023 as Buffett praised Geico’s Todd Combs.
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Priorities include risk-based capital modernization and cybersecurity issues.
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The bill was introduced shortly after a similar bill failed in Mississippi.
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A quick roundup of our best journalism for the week.
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Sources said California regulators need to show they’re receptive to private insurer needs.
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The insurer is seeking a 22% interim raise, but the request is currently on hold.