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The renewal book has auto, home, renters and condo policies, among others. -
A total of $2.1bn in Fema money has been approved for the state.
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The wildfire in Ventura County was 7% contained as of Friday afternoon.
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Following the closing of the deal, Aviad Pinkovezky will be named First Connect CEO.
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The wildfire started Wednesday and is 0% contained so far.
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Initial expectations for the later storm prove overblown, while inland auto losses mount for the earlier event.
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Republican tariffs and higher Democratic corporate taxes would hurt the sector.
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Management is showcasing its ambition, but it’s also dialing up risk.
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The insurer has been focused on growing products with lower cat exposure such as pet and renter’s insurance.
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The NFIP’s traditional reinsurance coverage kicks in at $7bn of losses.
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The policies assumed represent $200mn of in-force premium.
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The firm still expects to deliver positive net income for Q3 2024.
