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The executive joins after 20 years with Lexington. -
The carrier is restructuring the business into three segments.
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The carrier also has a $500mn excess $2.4bn aggregate protection.
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The company received over 10,100 home and auto claims as of January 27.
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The (re)insurer recorded a reserve charge of nearly $1.3bn within its casualty insurance book.
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The bill would put new restrictions on bad faith claims, close loopholes.
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Compared with its initial figure, CatIQ’s latest estimate has increased by 40%.
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The homeowners’ carrier has secured Floir approval.
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Loss estimates for the disaster from the likes of KCC, Verisk and Moody’s RMS now range between $28bn and $40bn.
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Guy Carpenter said personal lines exposure would account for 85% of the aggregate loss.
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The laws mandating payments were enacted after devastating fires in 2018.
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Fitch said 1Q wildfire losses could add 6% to 10% to Mercury’s CoR.
