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Florida Specialty, which has ceded 100 percent of its risk to Sirus America Insurance Company, was among those affirmed. -
The legislation has been designed to help protect the state against the costs of natural disasters.
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Regulatory investigations can move at a snail’s pace.
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He moves across from the broker’s former securities division.
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It could take years to determine whether or not PG&E is responsible for the 2018 wildfires.
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ILS broker-dealers expect 2019 cat bond issuance to range from $7bn to above $10bn.
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The legal action follows losses in share value resulting from regulatory probes into Markel Catco.
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The bond has been launched with the same initial price guidance as last year’s issuance.
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The National Flood Insurance Program has received the votes necessary to extend it to 31 May.
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The government also said it is exploring the possibility of issuing a cat bond in the near future.
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Insurers are passing on costs associated with Florida’s AOB crisis to consumers, the Insurance Information Institute said.
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The move will benefit both new Special Purpose Insurer (SPI) cells, as well as rollover deals.
