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Analysts said attachment points are now far behind the rate of inflation over the period. -
The state’s lawmakers will meet on December 12-16 to address the challenges facing its troubled property insurance market.
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The American Family bond will provide US wind, quake and wildfire cover.
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Mt Logan ceded $68mn of premiums to Everest Re in the three months leading up to 30 September – down 41% compared to Q3 2021.
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The reinsurer emphasised the need for improved secondary peril models including predictive capabilities.
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The year 2005, which featured the devastating Hurricane Katrina, remains the most expensive storm season.
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2022 was a near-average season in terms of the number of storms, but featured an unusually quiet start in August, followed by two Florida hurricanes, including one of the US’s most expensive.
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Frontier Advisors said sentiment continues to be challenged by performance.
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Flooding in February and March this year was the most expensive event in Australian history.
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The pay-out figure has nearly doubled over the last two weeks.
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The Canadian investment fund now owns almost 3.8 million shares of the personal lines insurer, compared to 281,773 in Q2.
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The bond will provide coverage up to 2026, extendable to 2029.
