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The NFIP’s traditional reinsurance coverage kicks in at $7bn of losses. -
The loss tally is considerably lower than estimates issued by model vendors.
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BroadStreet remained the most acquisitive, followed by Hub and Inszone.
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The global broker has beaten off competition from AJ Gallagher, and a number of other strategics.
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The price for policies with the same limit and deductible decreased 6.0%.
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Insured losses for 9M 2024 have hit $102bn, according to a report.
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Liberty Mutual expects $550mn in Helene losses versus Milton’s $250mn-$350mn.
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The insurer also promoted Rick Ciullo to head of global specialty’s US retail businesses.
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The “Golden Age of Specialty” continues in the Q3 releases of these specialty companies.
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The executive joined the company in 2019 from Barbican.
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Ball will succeed Jeff Poliseno, who is set to retire.
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It is understood that the business-to-consumer programs are not included in the potential transaction.
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