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Irwin joins the firm from Beazley, where she’d worked since 2019. -
CEO Cerio highlighted changes that allowed the insurer of last resort to combine commercial, coastal and personal lines.
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This publication revealed in July 2023 that the utility company had chosen to try self-insurance for the first time.
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The Palisades fire is estimated at $9bn-$12bn, while Eaton is $6bn-$8bn.
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Investigators are homing in on the likely causes of the incidents.
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Moody’s also expects losses in the billions of dollars.
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Six wildfires are now burning in SoCal, with the Palisades fire being the largest.
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Hurricane Milton resulted in the largest insured loss of the year at $25bn.
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More than 4,000 acres are burning as thousands evacuate.
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Supply generally exceeded demand and trading relationships were strong, CEO Tom Wakefield said.
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In property, Canada, Central and Eastern Europe and UAE renewals were impacted by losses.
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The insurance industry countered that the committee ignored a “toxic mix” of risks driving up costs.
