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The government flood insurance program now carries $21bn in debt.
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Reinsurance capacity is largely stable but that doesn’t mean discussions will be a smooth ride.
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At the conference, industry pros identified issues in modeling systemic risks due to a lack of historical data.
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California did not release September metrics, instead restating its historical data.
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Sources expect at least $80mn-$90mn of insured losses stemming from the case.
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October 17 has been set as the deadline for written comment.
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The Plane Talking report said the longevity of the ‘buyers’ market’ is in question.
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Interest in these vehicles has increased recently, but market softening could throw a curve ball at growth.
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The figure does not include NFIP losses.
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Daniel Boisvert will join the company’s Connecticut office.
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The residual insurer’s pricing is far from rate adequacy, and it is undercutting the commercial market.
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