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...It plans to hire more expert underwriters and invest in its technology platform too, Funabiki said....
...The UL network traces its roots to a late 19th century effort to help insurance companies save money by testing electrical products for fire risk....
...But at a private event last month, one executive at the corporation that oversees the market told underwriters that it has not yet seen clear evidence that a warming climate is a major driver in claims costs...
...In the filing, IAG said that Lex Greensill, the Australian financier who ran the group, approached its key underwriter, Greg Brereton, in 2018 to propose an arrangement that would allow its German banking...
...The 2 per cent premium for such a bond would force the Trump entities to pay $18.5mn upfront to an underwriter, the filing added....
...The filing also alleges that one of Zurich’s own underwriters, Steven Kent, “acted outside the scope of his authority” in increasing the level of insurance he extended to Liberty....
...Hyperexponential is just one of several new businesses hoping to automate the data input and analysis that is the mainstay of the job of underwriters — the insurance industry’s core decision makers....
...a particular challenge for underwriters....
...Howden, the UK insurance broker, has secured £500mn of insurance capacity from a group of Lloyd’s of London firms for a newly launched division that aims to turn tech start-ups into mini underwriters....
...In response, the consultancy expects home insurance prices to rise by 36 per cent over the two-year period....
...Brokers and underwriters say 2023 will be a record year for tax insurance, after the number of companies seeking to purchase policies hit a new high and the money available to cover unfavourable rulings...
...To protect themselves, underwriters will often ask for collateral that exceeds the amount of the judgment itself. They also charge an upfront fee of 1-3 per cent....
...A group of insurers led by Aviva, the holiday group’s lead underwriter, have told Butlin’s that because the damage fell within the category of a “storm” only up to £25mn of the damage would be covered, according...
...This was likely to “push into pricing for 2024”, he added, though how significantly will depend on underwriters’ judgment as to whether the heightened storm activity requires the longer-term trend to be...
...One person familiar with the market negotiations said there was “frustration” among underwriters at the latest cancellation provisions....
...AI has already been used in the sector, for example in analysing claims, but the negotiation of specialist commercial insurance contracts — where underwriters provide policies covering against everything...
...Last month, retailer John Lewis said it had stopped selling insurance for electric vehicles after Covea, its underwriter, withdrew cover while it reassessed the cost of EV repairs — a move confirmed by the...
...The IRA’s bombing campaign, combined with a general pullback from reinsurers after US hurricane losses, had created a market failure in terrorism insurance as underwriters held back from offering cover....
...The news will also come as a setback to attempts by Lloyd’s to bring more investors into the insurance market, which is a centuries-old hub for specialist commercial insurance and reinsurance....
...Julia Sommer, who worked in London as a political risk underwriter for the Zurich-based insurance and reinsurance group until she was made redundant two years ago, had her complaints for sex discrimination...
...Mnuchin started Liberty in 2021 after leaving the Trump administration....
...Lloyd’s chair Bruce Carnegie-Brown said the deal underlined the importance of face-to-face trading to the market, saying the underwriting room — a web of underwriters’ desks around the famous Lutine Bell...
...Indeed, John Lewis has suspended sales of its EV policies by request of French underwriter Covéa as it reassesses the cost of repairs....
...— Mystery investor (and Everton FC bidder) 777 Partners bought sports teams with insurance customers’ cash (Semafor) — Insurance and potential flood map inaccuracies in the Fed’s Second District (Liberty...
...These are the foundations of your civil liberties....
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