Berkshire Hathaway
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Ricardo Lara is accused of withholding information concerning his meetings with industry executives.
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Cumulative ceded incurred losses under the ADC with Nico are now $640mn
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Hilary Brown most recently served as head of casualty, international for AIG.
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The executive replaces president and CEO Bill Roberts, who is stepping down.
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Part of the cost of the disaster will likely fall on a builder’s risk policy written by the two carriers. -
The contract will allow the insurance group to cede US workers comp, commercial auto and general liability risks.
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The move follows an attempt to merge California Insurance Company with a New Mexico entity.
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The group recorded a four-fold increase in operating earnings despite absorbing losses of $281mn from Typhoon Faxai.
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The rejection of the deal throws a wrench into Menzies’ plan to buy back the insurer he founded from majority owner Berkshire Hathaway.
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The broker was launched in August by marine specialists Stuart Lilley and Dan Plummer.
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The purchase of healthcare liability renewal business comes amid a retreat by SRCS from some specialty classes.
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BoatUS and National Liability & Fire Insurance allege criminal wrongdoing and have contested the $85,000 claim.
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