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Trisura is expanding the firm’s licenses to include all 50 states and Washington, DC. -
The complexity of the incident and US location point to one of the largest ever marine losses.
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Chres Lee was previously M&A counsel for Liberty Global Transaction Solutions.
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The value of the bridge is estimated at $1.2bn.
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Insured losses from civil unrest have risen over the last decade to total $7bn in 2020-23.
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Trends in IBNR might suggest over-optimism in carriers’ reserving outlook.
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A Maersk-chartered container ship caused the Francis Scott Key Bridge to collapse.
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There is more capacity in the market for long-term risks.
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Participating members can purchase up to $10mn in (re)insurance.
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A cleaned-up combined entity could make for an attractive investment in a few years.
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Joy had previously set up the casualty practice at Global Indemnity.
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Cove Street is 14th largest investor in Global Indemnity.
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