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Floir Commissioner Altmaier and Florida CFO Patronis sent out letters questioning Petrelli's decision to put 17 insurers on notice of a downgrade. -
The rate-on-line index rise is the steepest uplift in 16 years.
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The company has taken almost half its retention on a $225mn calendar-year aggregate reinsurance deal.
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Claire Souch helped upgrade RMS’s US hurricane model in 2011 during her previous tenure at the firm.
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The company also said it expects a $408mn reserve charge, including $275mn related to personal auto and $91mn recorded for commercial auto.
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Bosnia & Herzegovina saw a 246% increase in the amount of land burnt in the past year.
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A case against Fireman’s Fund reversed an earlier decision that Covid-19 cannot cause physical damage.
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Matz worked at Tower Hill for 26 years, where his titles included COO and SVP.
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The ratings agency continues to review other Florida carriers’ positions following the 1.6 renewal.
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The storms at the end of May generated 355,000 claims, while those between 18 June and 4 July saw 624,000 claims.
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The current estimated insurance loss for the flooding is A$142mn.
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Inflationary pressure, increased demand and negotiations over attachment points are among the factors that reinsurers believe are ramping up pressure in the catastrophe space.
