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Rate increases averaged 0.0% in December 2024, from 16.3% in December 2023. -
This will be the most expensive fire in the state’s history, it said.
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Also, John Diaz will lead a customer and distribution management function.
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The regulator also emphasized the need for private flood insurance after hurricane Helene.
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A $30bn industry loss would use one-third of Big Four’s 2025 cat budgets.
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The reinsurance attaches at $7bn, unchanged for the past two years.
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Robin Hamilton has been appointed head of energy and marine liability.
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Sources say the Fair Plan is under-reserved, leading to the possibility of member assessment.
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Piyush Patel and Sandra Russo have joined Dellwood as head of programs and AVP, respectively.
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Rates are now falling, but submissions are still rising, according to wholesale brokers.
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The carrier is the largest writer of homeowners’ multi-peril in the state.
