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Assurant is targeting less volatile earnings after amending its reinsurance programme.
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Specialty property carrier Palomar Holdings’ excess of loss reinsurance programme will remain unscathed by losses from the recent earthquakes.
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The California Earthquake Authority has around 2,000 policyholders in the area hit by the 6.4-magnitude quake.
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FedNat has increased its level of aggregate protection in advance of its acquisition of 1347 PIH.
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Reinsurance rates are rising, especially in Florida and retro, but primary market changes are still outstripping the significance of these improvements.
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Capital is returning to the ILS industry after the past two years of losses, Paul Schultz, CEO of Aon Securities, said at the firm’s 2019 ILS event last week.
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The Californian utility has agreed the settlement with 18 public entities following a series of wildfires from 2015 to 2018.
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The reinsurer has secured $60mn of protection against named storms and earthquakes in the US from the capital markets.
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Insurance association GDV says car claims accounted for more than half of the total.
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Despite early hopes of sizeable rate rises, reinsurers are frustrated that many accounts will renew with as-before terms.
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New deals have brought total year-to-date ILS volumes to $2.9bn, pointing to a shrinking of the market.
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Congresswoman Maxine Waters has proposed the new law to end lapses in National Flood Insurance Program coverage.