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Carriers that started earlier in correcting their books and catching up with loss trend may be reaping rewards. -
Alexandra Furth has more than 20 years of claims and legal leadership experience.
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Ultimate losses from the Palisades, Eaton and Hurst fires are estimated at $4bn.
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The LA-based firm estimated gross cat losses in the range of $1.6bn-$2bn.
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Subsidiaries of Chubb, AIG, Travelers and The Hartford were all named in the lawsuit.
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A report from the reinsurance broker said fast rate approvals are key to stabilizing the California marketplace.
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The carrier reshaped its portfolio in 2024, cutting costs and investing in Gen AI and LLM technology, CEO Peter Zaffino told staff.
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The NFIP’s strategy is to use "short-term borrowings" to meet what could be $10bn in claims.
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The company, meanwhile, is bullish on E&S US casualty.
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The role at PCS included acting as primary touchpoint for ILS.
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The spillover impact from the LA wildfires will play a major role in how much reinsurance capacity will be available.
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Its post-tax estimate of $1.3bn is net of reinsurance recoveries.
