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The London D&F market will shoulder most of the losses. -
The carrier is only going to write new business on E&S paper, sources said.
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The MGA will be trying to replace the transactional liability capacity in the coming weeks.
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Florida House speaker Daniel Perez is seeking an investigation into the charge.
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Customers will keep their agent relationship and policies will not be impacted.
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Underwriting profits for casualty-exposed insurers show signs of struggle as loss costs worsen.
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This follows the firm’s exit from primary aviation.
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Delegated underwriters are seeing an opportunity to write in the PVT market as an add-on to property coverage.
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At the PLUS D&O symposium, executives raised concerns over tariffs and the role of reinsurance.
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The change reflects an improvement in the carrier’s 2024 earnings to a sub-100% CoR.
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Inflation, supply chains and tariffs also add to the challenges, he said.
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Commercial auto was the exception, ticking up slightly from January.
