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It also reported that severity increased by 17% in the same period. -
The storm is projected to make landfall in the next 24 hours in the highly populated Tampa Bay region.
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At the conference, industry pros identified issues in modeling systemic risks due to a lack of historical data.
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Sources expect at least $80mn-$90mn of insured losses stemming from the case.
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The Plane Talking report said the longevity of the ‘buyers’ market’ is in question.
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Interest in these vehicles has increased recently, but market softening could throw a curve ball at growth.
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Elixir has an initial focus on cyber but will look to expand into other lines, including E&O and D&O.
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Attendees concurred that they don’t expect the “Golden Age of E&S” to end anytime soon.
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The binding authority market is also “ripe” for consolidation, the CEO said.
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In Q2, median property price increases decelerated to 2.3%.
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Top concerns also included medical cost inflation and employee benefit costs.
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Insurance Insider US chats with Kevin Doyle on the state of the E&S market during WSIA.
