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July and August floods and fires caused the bulk of the insured loss burden. -
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The system is forming in the same area as 2022’s Hurricane Ian.
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The ETF format provides for publication of a daily NAV.
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Fifteen events caused estimated losses of $306mn.
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Floir approved nearly 650,000 policies for takeout from Citizens for October and November.
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The broker replaces Goldman Sachs on the business after the bank ceased offering ILS services.
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Moody’s also predicts losses to the NFIP at less than $200mn.
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The effort will draw from California’s research and higher education communities.
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The estimate is like others in the market, suggesting a relatively small loss from the event.
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Chris Caponigro will be responsible for expanding Axa XL’s product offering and investor base.
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The hurricane has led to a “surge” in insurance claims related to floods, according to the IBC.
