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The Australian insurer said it received approximately 3,750 claims relating to recent flooding, as the low deductible on its losses implies it may trigger a dropdown or aggregate cover. -
The executive will take on the role of chairman of retro, property specialty, Bermuda and market capital.
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Funding from the UK and Germany will support early action and the managing of disaster risks in less wealthy countries.
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The new law limits insurer liabilities for attorney fee suits against insurers and reduces time limits for claims.
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As providers manage their targets by premium dollars, and rising rates have boosted quota share income, this is leading to reinsurers hitting capacity earlier than expected.
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Outside the US, two Indian cyclones are expected to have caused more than $4.5bn of economic losses.
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The former Peak Capital CEO has left the ILS platform he set up.
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CPI surged to 4.2% in April, levels not seen since before the Global Financial Crisis.
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It is the Blackstone captive’s first foray into the cat bond market.
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The platform has backing from ILS firm HSCM, although cyber paper was provided by HDI.
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It will also encompass impact investment manager BlueOrchard, although the microfinancier will keep its independent identity.
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The executive said reforms will help insurers, but more challenges remain to be tackled, as local executives remain divided on the potential impact of the legislation.
