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The CEO said he expects cyber rates to start flattening post-loss. -
He succeeds Rob Clark, who was appointed global broker account lead.
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The promotion follows a distribution trading partnership deal with MGU PCS.
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Stephen Buonpane will lead the division, with Danielle Stewart as COO.
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The industry could weather a recession, unless loss costs and reserving pressures worsen.
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James River will also oppose a Fleming motion to uncover additional documents.
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In tandem, Mike Falvey will transition to executive chairman, effective January 1.
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However, the market is still struggling with excess capacity and low demand.
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Commercial liability and commercial property continue to dominate.
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The report also noted that 35% of injuries occurred during an employee’s first year.
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Regionals may be particularly vulnerable to problematic loss cost trends and volatile cat losses.
