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Most US states have been silent on the regulation of parametric insurance. -
The regulations are part of a state effort to expand wildfire coverage.
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The executive will oversee the group’s strategic financial direction.
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This is CRC’s first purchase since parent TIH sold retail broker McGriff to MMA.
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Overall, reinsurers accepted that rate cuts were still leaving them with strong margins.
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The company has been buying out Omers’ shares since 2015.
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Wildfire risk destabilized the state’s market, spurring regulator attention.
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Malibu, which has 10,000 residents, posted on social media on Wednesday that the fire was 7% contained.
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The state insurer is budgeting for an extra 43% of overall coverage in 2025-26.
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The Montreal broker will use the funds to expand its Canadian operations.
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The fire started Monday night, with high winds predicted for Tuesday morning.
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TSR anticipates that next year will see an ACE value of 129 compared with the 30-year norm of 122.
