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The carrier expects to book $100mn-$140mn from the California wildfires. -
The firm’s core CoR improved 3.2 points to 90.2%.
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Insurers have paid $6.9bn in Southern California wildfire claims in the first four weeks of recovery.
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Commissioner Lara calls the 10 bills a ‘comprehensive legislative package.’
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The executive joined the firm in early 2023 after 10+ years at Aon.
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The loss aggregator has classified the fires as two separate events for reinsurance purposes.
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The insurance commissioner said the carrier has not shown the need for price increases.
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At the first Insurance Insider US Miami Forum, Floridian industry players pointed to signs of stability.
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More than 33,000 claims had been filed as of 5 February.
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Rate falls across the property class and uncertainty around the US administration dominated conversations.
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The losses do not change the near-term assessment of CinFin’s balance sheet strength.
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The bill seeks prompt claims payments and settlements, and greater transparency.
