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...Further reading: — What’s going on with US car insurance? — Unhedged episode on auto insurance — Allstate is a BBB credit now — The insurance storm continues — Car insurance! Again!...
...Further reading: — What’s going on with US car insurance? — Car insurance! Again! — The US insurance storm continues — Taking a CLOser look at insurers...
...“There is a lot of cover for the [protection and indemnity] element to address,” said Neal, citing the $3bn of liability reinsurance that the ship has access to through the International Group of P&I Clubs...
...Unlike rivals such as Apollo Global and KKR, both of which own large insurers, Blackstone manages assets it acquires on behalf of insurers such as Allstate and AIG....
...Auto-insurance businesses are still losing money. And a run of unusually destructive bad weather has brought additional losses for their property-insurance businesses....
...Insurer databases showed Dali had liability insurance through Britannia, one of a global group of protection and indemnity insurers that shares losses and are ultimately reinsured at Lloyd’s of London....
...California last month struck a deal with insurance companies to continue writing policies for property in disaster-prone areas, after big US names such as State Farm and Allstate stopped issuing any new...
...One focus is likely to be the protection and indemnity insurance covering the ship, a must-have liability insurance intended to pay out for crashes, oil spills and other disasters, the people said....
...The US property and casualty insurance industry has suffered through a summer of devastating thunderstorms on the continent....
...Auto-insurance losses were part of the reason Fitch Ratings downgraded Allstate’s credit to BBB from A- this week, as auto-policy underwriting is the insurer’s biggest line of business by premiums collected...
...Allstate, State Farm and AIG have stopped underwriting new homeowners’ policies in California because of the risk of destructive wildfires....
...Instead of buying outright, it has struck partnerships with several large insurers including AIG and Allstate, where it provides asset management services to their policies....
...Those with the most exposure to home insurance have suffered more. Shares in Allstate, the country’s second-biggest home insurer by premium volume, have fallen by a fifth....
...In any event, ask whether trustee indemnity insurance is in place, which might offer some reassurance....
...Although the decisions by US insurers such as Allstate and State Farm to stop writing homeowners insurance in California may appear unduly harsh, they do serve to make the hazard risk explicit (“What happens...
...The gains were fuelled by strong results from Berkshire’s insurance unit, including at Geico, as well as higher interest rates....
...Big insurers such as State Farm and Allstate said recently they had suspended offering home insurance to new customers in California....
...This trend has intensified in recent years with large insurers following suit: for example, Allstate, Chubb and AIG sharply scaled down operations in California citing onerous price regulation....
...There were, he said, few deals that offered the kind of transformative impact past takeovers have had, such as its purchases of insurers Geico and National Indemnity or the BNSF railroad....
...But it does raise questions of competence and also why the cost of providing indemnity insurance to the buyer should be borne by the listed fund and not the manager....
...Skinner was a veteran of the marine protection and indemnity industry, according to industry publication TradeWinds....
...Alex SkaggsLike, so Allstate, Progressive, all those guys. Ethan WuMargins just being the difference between cost and price, yeah. Alex SkaggsYeah, their profitability. Ethan WuRight....
...Gaps in coverage are already emerging: US companies State Farm and Allstate have stopped accepting new home insurance policies in California thanks to the state’s wildfire risk....
...Bar Mutual, established in 1988, provides primary professional indemnity insurance to all self-employed barristers in England and Wales up to a value of £2.5mn....
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