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The firm’s underwriting performance is hard to piece together from the limited available data. -
The cyber underwriter also raised the annual revenue to $5bn for companies it will offer coverage to.
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Regulatory compliance risks were listed as the third-greatest concern.
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The Incyde Risk facility will provide up to $25mn in capacity on a primary and first-excess basis.
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Beazley has tapped Melissa Carmichael as head of US cyber, effective immediately.
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Some see flat renewals this year, while others report deployment of larger lines.
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Global attacks hit a record high in 2023 and show no sign of slowing in 2024.
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Executives are seeing 5%-15% rate declines on intense competition but in excess layers pricing is down as much as 40%.
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Despite a smaller number of claims, ransomware payments hit all-time highs last year.
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The hire comes after the company’s recent rebrand from Capitola Insurance.
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Global commercial insurance rates rose 1% in Q1, down from a 2% increase in Q4 2023.
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The broker used a consensus-based hypothetical cat event type to analyse its global impact.
