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Defence costs are expected to remain elevated, as weather losses have also weighed on results.
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Fewer AOB cases contributed to easing the caseload down from a 2020 peak in October.
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The revived bill seeks to limit legal fees to a “lodestar” method, based on hours spent on a case.
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The ILS manager sees Florida primary and retro business producing more return than reinsurance.
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Weather activity and adverse claims trends in Florida have impacted underwriting results, the ratings agency said.
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The Floridian carrier has agreed terms for a new reinsurance treaty that increases its cession rate by eight points to 30.5%.
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This third payment will be the largest yet received by Central American country.
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The storm struck a state park area around 135 miles north of Tampa.
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The state’s largest property carriers faced over 5,000 new lawsuits last month.
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The storm battered Central America as a hurricane last week, causing widespread damage and at least 57 deaths.
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Reinsurance demand will be up in the near term, but a stronger if smaller pool of carriers would be another desirable outcome.
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HCI reported diluted earnings per share of $1.60 in Q3, compared to $1.02 a year earlier.