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Losses would run into hundreds of billions if carriers were expected to fund non-damage BI. -
The groups say business interruption insurance was not designed to cover losses from Covid-19.
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The carrier failed to secure sufficient investor interest for the transaction.
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The Dubai-headquartered company will list on the Nasdaq today, giving it additional access to capital markets.
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Despite the prevalence of non-damage business interruption clauses, coronavirus fears may not be covered, a Wilson Elser partner said.
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APRA chairman Wayne Byres tells lawmakers carriers remain sufficiently capitalised to respond to new events.
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Underwriting income for the industry climbed $4.9bn from the previous year, driven by growth in net premiums earned, according to AM Best.
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The production company sought coverage after violence in Israel caused it to change filming locations for the show “Dig”.
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The CEO said the company was only prepared to deploy capital if increases were sufficient.
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Steven Israel, Clint Downey, Patrick Whalen and Charles Madry have left the carrier.
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The food retailer’s property all-risks policy will exclude SRCC cover, and it is not covered under its PV policy.
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Chris Conway joins TigerRisk from Neon Underwriting Bermuda, where he was senior vice president.
