Insurers
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The carrier has received 12,300 claims as of 28 March. -
The insurer has lined up Piper Sandler and KBW to run the process.
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Cat losses last month were lighter than historical trends, but all eyes are on Q1 figures.
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Commissioner Lara also proposed a $500mn cash infusion from parent State Farm.
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Both carriers have extensive reinsurance coverage.
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The Class A section of the bond has doubled in size, at lower pricing.
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Several Florida start-ups are poised to begin writing business this year.
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The Class B segment of the bond has priced below initial guidance.
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The bond provides coverage for storms, earthquakes and severe weather events.
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The carrier is “extremely well capitalised” to achieve its strategic ambitions.
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The bond will provide coverage for named storms in North Carolina.
