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SMEs represented 98% of cyber claims from 2019-2023 totaling $1.9bn. -
Moody’s also predicts losses to the NFIP at less than $200mn.
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Property rates had increased 25.5% one year ago, in Q2 2023.
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The MGA noted a 17%-20% price decline last year and expects similar for 2024.
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Renewals with flat or increased premiums are on the rise, however.
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Reinsurers will likely push for double-digit US premium rate increases.
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There has been an exodus of hull premium from the London market to Nordic carriers since 2014.
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The duo have several years’ experience in specialist construction risk.
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Potential for rate cuts at the upcoming Fed meeting should be an addressable event for P&C insurers.
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The deal marks Sentry’s largest transaction in its 120-year history.
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The lawsuit alleges the data is being used by insurers to increase premiums.
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Francine has been the eighth Category 2 or larger storm to make landfall in Louisiana since 2000.
