Business interruption
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Revenue, country and industry sector drive modelled output divergence. -
The carriers were in arbitration with UnipolRe and Gen Re.
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More than three-quarters of local exposure is ceded to highly rated reinsurers through excess of loss protection, according to the rating agency.
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In a presentation before Florida lawmakers, Cerio noted recent success in Citizens’ efforts to move policyholders to private insurers and reduce risk exposure.
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The carrier describes reinsurers’ current strategy of dealing with cyber policies as "a game of whack-a-mole"
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The ILS business ‘continues to be an important differentiator’, says Aspen CEO Mark Cloutier
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A Guy Carpenter report recently noted that risk models are converging for the most remote risk levels.
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Softening cat bond rates are among the bearish signals for cat rates, but latent new demand and still-cautious supply should prolong reinsurer gains.
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The insurer’s expected full-year combined ratio is 94% and constant currency GWP growth 10%.
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The modeller also said that losses to the National Flood Insurance Program will likely remain under $300mn.
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Lower-attaching Florida ILWs had been more in demand at this year’s mid-year renewals.
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The broker said climate, conflict and capital concerns will keep driving up reinsurance rates but suggested new capital may be attracted to the market.
