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...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....
...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....
...Geico and Berkshire Hathaway Specialty Insurance declined to comment. Gen Re did not respond to requests for comment....
...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....
...Civil unrest has caused more than $10bn of insurance and reinsurance losses across the globe since 2015 compared with less than $1bn from terrorist attacks, spooking underwriters and fuelling a surge in...
...Their performance was helped by a few big successes such as insurance group Skyward Specialty, which has risen 125 per cent since listing a year ago, and Rayzebio, which is up 244 per cent, driven by news...
...But none of that saved SVB, Signature or later First Republic. They relied heavily on big depositors, those with accounts too large to be protected by the Federal Deposit Insurance Corporation....
...The costs stemming from old, non-modular technology are extremely high and need disrupting....
...“First Citizens understands that the SVB business was underwriting the underwriters,” said Lux Capital’s Hébert....
...Again, the underwriters announced the offering was oversubscribed....
...He also recounted the calculated and choreographed manner in which Trump would intervene in meetings company executives were holding with insurance underwriters, boasting about his wealth to try to win a...
...The centuries-old market has been at the heart of the marine insurance sector since its inception....
...insurance policies at the underwriter’s desk, or “boxes” as they are traditionally called....
...Lloyd’s, a centuries-old marketplace where dozens of insurers negotiate with hundreds of brokers over the terms and price of cover, has played a leading role in cyber insurance and takes in about a fifth...
...“If big insurance companies and friendly billionaires think he’s too big a credit risk, who might bail him out instead? What sort of collateral could Trump offer in return?”...
...Rose’s tongue-in-cheek sign-off, “We’re Lloyd's of London”, was the only reference to the hell-raising past; the insurance underwriters sued them in 1992 after the band sparked a riot in Missouri and claimed...
...And a giant health insurance merger in the US might catch the attention of regulators....
...But, on average, the ability to make good financial decisions declines with advancing old age. Third, everyone thinks they are smarter than average....
...First Republic....
...And other services categories such as vet visits, recreational services, car insurance and repairs are all still running hot (for a deeper discussion of car insurance inflation, listen to the Unhedged podcast...
...However, the Federal Deposit Insurance Corporation estimated that losses to its insurance fund would be about $13bn....
...The 92-year-old investor confirmed that Greg Abel, the company’s vice-chair charged with running all of its businesses outside of insurance, remained his anointed successor....
...“If folks in other jurisdictions . . . feel it is a good time to be giving away this cover to gain market share, best of British luck to them,” he told underwriters at a quarterly presentation. ...
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