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The MGA recently secured capacity to write HNW homes in California. -
Four cat modelers have also submitted their tech for regulatory review.
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The carrier is only going to write new business on E&S paper, sources said.
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Under the new guidelines, the carrier is requiring more distance from the brush.
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Former PRS president Ana Robic was promoted to regional president.
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Insureds often just want cover in place at the lowest price possible, and insurers oblige under the skeptical eye of regulators.
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RenRe gave the highest anticipated market loss of $50bn.
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After a period of re-assessing risk appetite, underwriters were signalling growth again – that was, before the fires.
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There are many unknown factors including insurance gaps, high-value property and damage to critical infrastructure.
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Investigators are homing in on the likely causes of the incidents.
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Sources are saying 2025 could be as expensive for wildfires as the $20bn loss years of 2017 and 2018.
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This could see it surpass the 2017 Camp Fire, which cost around $12.2bn.
