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Loss estimates are coming in for the weather event in Bavaria and Baden-Württemberg.
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The loss follows the pattern of 2002 and 2013 European flooding.
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Renewable energy assets have been plagued by severe weather losses.
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Europe has experienced an uptick of insured losses from severe weather.
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The mean nuclear verdict for 2013-2022 was $89mn, versus $76mn in 2010-2019.
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An EF-4 tornado devastated Greenfield Iowa, adding to the expected multi-billion-dollar toll.
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Recent contingency losses reflect a willingness of the market to go looking for premiums.
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The storm is expected to be the second billion-dollar SCS loss event this month.
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The proposals include increasing either statutory or CRTF funds.
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The total economic cost from the catastrophe is estimated to be EUR9bn.
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The BMC-IBM judgment was insured for about $700mn on a heavily co-insured tower of around $1bn.