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Lawsuit claims GM unlawfully sold data to insurers collected from 1.5m drivers. -
Moody’s also predicts losses to the NFIP at less than $300mn.
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Private broker Q2 Ebitda margins contracted to 26.8% from 29% in Q1 and 27.1% a year ago, according to the survey.
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It had planned to non-renew 47,000 DP-3 and 53,000 high-risk homeowners’ policies this year.
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Reforms would seek to tamp down legal costs that can drive insurance costs up.
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The promotion follows a distribution trading partnership deal with MGU PCS.
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The industry could weather a recession, unless loss costs and reserving pressures worsen.
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Regionals may be particularly vulnerable to problematic loss cost trends and volatile cat losses.
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The arrangement enables PCS to expedite growth.
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NatGen allegedly collected $500mn associated with the fraud.
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The proposed class says the plan does not cover smoke damage.
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Reserving trends, pricing declines and hurricane forecasts are causes for concern.
