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The executive joined the San Francisco-based brokerage in 2020 after almost six years at MCM, where she was marine account manager. -
The policies are issued by At-Bay Specialty Insurance Company, the Delaware-based E&S insurer the InsurTech acquired from XL America in January.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The Inside P&C news team runs you through the earnings results for the day.
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In Q2, 80% of Hippo’s cat losses were caused by five major wind and hail events in Colorado and Texas.
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Intact Ventures led the latest funding round, and Lightspeed Venture Partners, General Catalyst and Founders Fund also took part.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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The CEO said he expects the total number of policies from the October takeout to “be substantially lower than 100,000”, roughly around 30% to 50% of the approved figure.
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In the quarter, Root saw its auto policies in force shrink 31.5% to 203,840, though they were up slightly from 199,685 policies in Q1 2023.
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Gallagher Re's latest Global InsurTech report has shown that Q2 funding dropped below $1bn to the lowest quarterly investment level in three years.
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Issues with faked letters of credit are not limited to one banking provider, sources said.
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The broker said it believes it has meritorious defenses and intends to vigorously fight the claims and seek recourse against third parties where appropriate.
