In industry news:

The American Insurance Association (AIA) and the Property Casualty Insurers Association of America (PCI) are merging. In a press release, both organizations said: “The respective Boards of AIA and PCI believe there is great benefit in a more unified policy and advocacy voice for property casualty insurers, given the unprecedented pace of change in the world and the resulting potential opportunities and challenges. A merged trade association would speak for approximately 60 percent of the U.S. property casualty market, representing the full breadth of the industry and creating an even more influential voice.”

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