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Property Claim Services estimates insured losses of $125 million due to the massive cybersecurity breach at Equifax Inc. that exposed personal information for millions of U.S. citizens, Reuters reported. Beazley Plc leads the cyber policy for the breach, the news outlet reported, citing sources and analysts.
PCS put its initial estimate for insured losses in U.S. territories from Hurricane Irma at about $18.03 billion, with about $13.11 billion, or 73%, coming from Florida, The Insurance Insider reported.
Conifer Holdings Inc. provided estimates of pretax catastrophe losses incurred during the third quarter of about $4.5 million, net of expected reinsurance recoveries. The losses included claims from Hurricane Harvey in Texas and Hurricane Irma in Florida.
The National Council on Compensation Insurance submitted a proposal to the Idaho Department of Insurance for overall rate decrease of 5.8% to workers' compensation insurance, effective Jan. 1, 2018.
In deal news, Tokio Marine HCC has agreed to acquire the medical stop-loss operations of American International Group Inc. through HCC Life Insurance Co. Tokio Marine HCC is the marketing name used to describe the affiliated companies under the common ownership of HCC Insurance Holdings Inc., a U.S. subsidiary of Tokio Marine Holdings Inc.
Paragon Insurance Holdings LLC closed the acquisition of several specialty lines of business from Argo Group International...