Chubb
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High frequency and severity have been more acute in exposure with wheels. -
The Insurance Insider US news team runs you through the earnings results for the day.
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The insurer recorded lower cat losses and higher favorable development.
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Prior to his new role, which Matt Prevost began this month, the exec spent nearly 10 years as Chubb’s SVP, cyber and product line manager.
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The newly created role will see Frederico Spagnoli oversee Chubb’s consumer lines in 51 countries.
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Broker and commercial carrier trends separate as inflation slows but rates stay elevated.
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Michelle Bryer had been serving as senior vice president of claims operations at Combined, a Chubb subsidiary.
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Clearer wordings for cyber cat risk would also help foster the development of the more capital-efficient event XoL reinsurance market in cyber, Kessler said.
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At a point when cyber rates are falling and capacity is plentiful in high excess layers, the mutual plans have the wider cyber market somewhat perplexed.
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A clear commonality is already emerging much as it did in the previous quarter, when severe convective storms – particularly hail – also dominated.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Chubb NA property soared 23% in Q3 with rates up 16.6% and exposure change of 5.5%, as casualty pricing rose 11%, with rates up 8.7% and exposure up 2%.
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