Axis Capital
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A New Jersey judge writes a scathing decision criticizing hospitality firms for attempting to claim physical damage from virus and misinterpreting policy language. -
In its first annual home-based business survey, Axis commissioned a poll of 1,000 business owners to understand more about their motivations and challenges.
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The protracted firming phase of the cycle continues, with E&S firmer than the admitted market.
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Both firms posted results and looked towards future pricing, loss cost trends, and renewals.
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Rates across Axis’s insurance book rose by 14% in 2021, roughly matching the 14% rate increases Axis said it achieved across its insurance portfolio in 2020.
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The executive also said that in many cases, the increases in ceding commissions that buyers were looking for were “too much”.
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The company lowered its full-year core loss ratio 2.6 points to 55.1% and posted a $266mn full-year underwriting gain.
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Former Navigators CEO Vince Tizzio has joined as a senior adviser and will transition into the CEO role on June 1.
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The Inside P&C research team looks forward to the big issues of the new year.
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Based in Alpharetta, Georgia, he will report to Britt Smith, senior vice president for US excess casualty.
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The dog and cat cover underwriting agency is the fourth largest of its kind in the US and Canada.
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Reinsurers take stock of a changing catastrophe landscape and plot contradictory courses.
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