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Overall, insurance rates fell by 1%, led by competition in property. -
Sources said that Milton may slow the pace of rate deceleration.
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This could change if Milton losses turn “ugly”.
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CEO John Doyle said global property rates were down 2% versus flat in Q2.
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Current rates at 2% to 2.5% translate to an 86% incurred loss ratio.
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Deal flow is still far below levels seen in 2021.
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Twia filed for the rate hike in August after an actuarial analysis showed that rates were inadequate.
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The all-items CPI increased 2.4% over the last 12 months.
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The looming collapse of the city’s biggest livery insurer may not be cause for national concern.
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Interest in these vehicles has increased recently, but market softening could throw a curve ball at growth.
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D&O direct written premiums fell 8% YoY as of June 30, and direct earned premiums declined 16%.
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While Republicans are typically perceived as best for business, there are several factors at play.
