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The state is already experiencing affordability challenges, and regulators are concerned that an availability crisis is brewing.
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The ratings agency cites ongoing deterioration in results for personal auto and homeowners’ lines, along with rising loss costs, driven by inflationary pressures.
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Underwriters’ concern surrounding the volatility of secondary perils is sustaining caution over rate adequacy.
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Insurance Insider US’s morning summary of the key stories to get you up to speed fast.
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November premiums were up for all three of the top E&S states, with Florida posting the largest percentage increase at 21.8% YoY.
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The Senate Budget Committee, chaired by Democratic Senator Sheldon Whitehouse, is seeking information on plans to address increased underwriting losses from extreme weather events.
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A quick roundup of this week’s biggest stories.
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Aidan Flynn said that although different markets are expected to move at different speeds, the underlying trend is clear.
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Insurance Insider US’s morning summary of the key stories to get you up to speed fast.
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After joining the firm in 2018 from Chubb, Cox oversaw the carrier’s Markel Specialty and Markel International divisions.
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The two insurers have achieved AWS cyber insurance competency and will become part of a new Amazon effort to provide quotes for cyber coverage within two days.
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Cedeño Camacho will expand his insurance carrier holdings to North America.