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Dan Malloy says most of the carrier’s property cat portfolio is personal lines-focused.
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Horace Mann released its Q1 results which included a 6.9pt decline in its combined to 88.6% and a 23.8% increase in its operating EPS to $0.78. -
The case brought by a New Jersey restaurant comes as part of a wave of litigation by hospitality businesses against their insurers.
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The amendment would have forced insurers to cover claims, even where cover does not exist.
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AIG “remains in a strong financial position” despite the pandemic, the executive said.
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The proposed legislation would mandate the payment of claims for businesses with fewer than 100 employees.
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The executive said he is optimistic society will be able to “handle” the pandemic.
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Tracy Dolin warns there is a potential for insolvencies if BI bills get through.
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The bill has bipartisan support but is expected to be subjected to substantial committee scrutiny.
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The insurer’s CEO says it has identified 538 policies where coverage could be triggered.
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The losses mainly relate to event cancellation and BI losses.
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The insurer’s share price plunged more than 12 percent in the day following the release of first quarter earnings.
