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The risk of cyber incidents that cause physical damage is also rising. -
The executive formerly held roles at At-Bay, AIG and Hiscox.
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The broker has noted that double-digit reductions are increasingly available in property.
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The executive has been with the company for roughly one year.
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The insurers sent denial letters to the tech company as lawsuits and damages pile up well into the multi-millions.
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The NFP acquisition was a “tailwind for organic growth, not a key driver”, said CFO Edmund Reese.
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The executive said the claims industry is going to “be transformed”.
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Casualty rates increased 4% globally but shot up 9% in the US.
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BI claims are notoriously difficult to manage and some insurers believe binary coverage can help.
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Demand and growth opportunities remain ample despite competitive pressures.
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The executive previously held roles at Capgemini, The Hartford and AIG.
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But June was the busiest month of the year on the back of recent broker churn.
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