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The talks must be completed by 28 June to avoid a trial.
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The final estimate is a 12% increase on an August tally of NZ$1.99bn.
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Convective storms cost more than ever, but activity was not exceptional.
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The increase can be attributed to the Christmas storms of 2023.
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The court gave a mixed ruling on subjects including coverage, aggregation and furlough.
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Storm Ciarán incurred insured losses of EUR1.9bn, according to WTW’s natural catastrophe report for July to December.
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The broker’s latest climate report tallied global insured cat losses at $118bn.
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As a result of mostly flooding, £467mn of losses occurred in the UK.
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The source of the funding is one of the most problematic elements for sources who spoke with this publication following the draft bill’s release on Friday.
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Unfavorable prior year reserve re-estimates, excluding catastrophes, totaled $199mn in Q4, with approximately $148mn related to personal auto, including costs for litigation claims.
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An escalation of conflict at the end of last week is expected to put significant upwards pressure on marine war rates.
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More than three-quarters of the losses came from the firm’s UK&I line of business.