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Specialty insurer’s global chief of claims warns others about the allure of AI. -
Customers are demanding more in a larger move towards the E&S market.
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The company is also pursuing “deconcentration” to lower SCS exposure.
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But automotive repair costs are likely to increase faster than home repair.
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Primary and excess casualty in the US saw double-digit rate growth and remained above loss trends in Q1.
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The remediation process is on track for completion in the fourth quarter.
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The reinsurer also promoted Ethan Allen to chief program officer.
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It acquired wholesaler ARC Excess & Surplus, confirming an earlier report from this publication.
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The reinsurer said the market was unprofitable and pricing needed to increase immediately.
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Last summer Insurance Insider US flagged 3 advantages that minority deals provide.
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The days of 30%+ growth are probably behind the firm, he said.
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New roles include CUO for primary and excess casualty and practice leader for complex specialty.
