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It is understood that the goal is to use a capital injection to form a reciprocal. -
Gittler joined Axa XL in 2012 and had led the cyber underwriting team since 2021.
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The top three states averaged a 3.3% YoY gain, down from May’s 15.8%.
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Tara Hill launched last month and is headed by Core Specialty’s Peter McKeegan.
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The program is led by the same carriers as the expiring treaty.
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The capacity increase follows the debut of new cyber risk management capabilities.
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Reserve releases in workers' comp may have been premature despite industry confidence.
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Improved cyber hygiene and strong insurer competition has driven rate reductions.
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Enstar will provide $430mn of excess cover over ~$1.7bn of underlying reserves.
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The groups highlighted technical hurdles to implementation at a Wednesday hearing.
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Launched in 2021, Axis is both an investor and capacity provider.
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