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Alternative capital reduced by around $3bn in H1 2020 due to trapping.
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A New South Wales Supreme Court judge gives the go-ahead for the hearing to start on 2 October.
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Storm surge losses are expected to remain under $500mn.
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Nearly 1,000 insurance disputes over pandemic coverage were filed by the end of July, according to data highlighted by sister title Inside P&C.
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The research firm says the pandemic will become the leading example of “silent” coverage uncertainty.
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Earlier this month, we recapped some of the issues causing rising tensions in the retro market, where providers are pushing for release of capital trapped in connection to Covid-19 claims.
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State Farm policies in question contain a virus exclusion, protecting the insurer from liability.
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The UK insurer has exposure to BI losses through a Canadian dentistry book.
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The retro vehicle has only picked up a small share so far but this will grow.
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With the fundraising season approaching, tensions are rising over several points of dispute.
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The law firm representing customer action groups claims brokers discouraged policyholders from lodging Covid-19 claims.
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The judges will now consider their verdicts, with an ambition to produce a draft judgement in mid-September.