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The Insurance Insider US news team runs you through the earnings results for the day. -
He will serve as an independent non-executive member.
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Insurers must write policies in high-risk areas in order to incorporate the model.
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The automaker’s insurance arm wrote over $300mn in premium last year.
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Hagerty Re will now assume 100% of the premium and 100% of the risk.
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The executive said the claims industry is going to “be transformed”.
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Wind season remains an important variable, but also might not change current dynamics significantly.
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The carrier has been steadily increasing loss trend estimates.
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Jill Beggs was most recently COO for reinsurance.
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Doan Nguyen-Huu also succeeds Claudia Valencia Lascar as unit head.
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Softer market conditions are likely to create a wave of consolidation favoring large brokers.
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Casualty rates increased 4% globally but shot up 9% in the US.
