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Existing non-competes for senior executives can remain in force, however. -
A total of 8% of issuers under criteria observation received negative rating actions.
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A litany of underwriting and quoting constraints has made it much harder to write business.
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The ratings agency cited erosion in the company’s surplus position, among other developments.
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FHCF rates are also projected to decrease by a statewide average of 7.38%.
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Ten states joined in the original suit.
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The deal will create a personal lines firm controlling £3bn in premiums.
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Bermuda liquidators had earlier objected to out-of-court agreements between parties.
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A more business-friendly approach will be offset by increased uncertainty.
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The body’s budget committee is again pressing Citizens over solvency concerns.
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Long-term confidence in the market depends on the details of the new tax rule.
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