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Assignment-of-benefit claims spiked in June from the prior month.
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Motor accounts for 47% of the industry’s total bill, while property claims rise sharply from earlier estimates.
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Lower-than-average major losses helped offset nearly $800mn in pandemic-related claims.
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Claims on 15 cat events impacted the carrier, with most losses related to April.
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The losses were driven by severe weather events in Florida, Texas and Louisiana.
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The utility company emerged from Chapter 11 earlier this month following an $11bn settlement with insurers.
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Hailstorms across the Midwestern US will likely add to substantial losses this year.
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This week the team looks at the underperformance of Bermudian syndicates at Lloyd’s.
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June losses from wind and hail events in Texas, Pennsylvania and Alberta total $181mn.
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The insurer is anticipating a pre-tax underwriting loss of $210mn for the quarter, and expects to absorb $182mn in Covid-19 claims.
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Catastrophe losses will account for 65 percent of quarterly losses, the company estimates.
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The range adds to mounting evidence that the industry may be hit less than initially feared by the pandemic.