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With sustained windspeeds of more than 60mph, the storm disrupted power supplies and transport lines -
The cedant is again seeking multi-peril catastrophe cover in the latest deal.
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After Slide completed a $100mn fundraise, the CEO laid out the InsurTech’s plans to launch in five states at the start of 2022 in an interview with Inside P&C.
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States in the south have received proportionally less damage.
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Nearly three months on, the event still seems heavily stacked towards residential claims.
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The carrier has ramped up fundraising activities this summer as it seeks to broaden its platform.
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Increasing cat costs will drive the focus on modelling and price adequacy, the intermediary said.
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The loss-tracking agency’s claims total for Louisiana rose by roughly $1bn, as losses hitting New York increased by $0.5bn.
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K2 Parametric will offer policies that pay pre-agreed claim amounts based on local parameters of measurable events, such as hurricanes or earthquakes.
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ILS Capital described it as “the ultimate short-tail risk” but noted structural and sourcing challenges for ILS writers.
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An RAA study found that for the nine months ended September 30, the combined ratio for group of US reinsurers deteriorated by 0.5 points to 100.7%.
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Catastrophe losses push P&C industry CR higher, send industry to underwriting loss for first nine months of the year, AM Best estimates.
