D&O (Directors and Officers)

Insurers could face a “heightened claims exposure” due to increased regulation scrutiny on the fintech industry, including buy now pay later schemes, AI and crypto, said Nick Rugg, Head of Fintech and Investment Management Insurance for Markel International.

The carrier will focus on mid-market business outside of Lloyd’s.

The MGA is building out its product base from its latent defects and surety offering.

The reinsurer said the market was unprofitable and pricing needed to increase immediately.

The move was influenced by fierce competition in the domestic US D&O market.

PartnerRe's $5mn commitment will enable the MGA to expand its D&O line size.

Larger companies ranked regulatory breach as their top risk.

The London wholesaler rebranded from GAWS of London in March last year.

The facility is backed by a $10mn Lloyd’s binder.

The carrier’s US platform will continue to be led by long-time executive Sal Pollaro.

The average change for primary policies with the same limit and deductible was a 3.5% decrease.

The offering will provide D&O, professional indemnity/errors and omissions, crime and cyber cover.