D&O (Directors and Officers)
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The market was divided about the outlook for 2022, with some predicting a substantial reduction in rates. -
Insolvencies are a key source of claims but have been prevented by government support measures during the pandemic.
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Competition for staff remains fierce in the D&O market, where there has been substantial rating remediation.
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Spring Partners said the new underwriting capacity and product launch were part of its London market growth plans.
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The broker has announced several senior leadership changes since John Doyle was promoted to group president and COO.
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The carrier has been rebuilding its team after losing key underwriting staff earlier in 2021.
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The carrier has faced a string of resignations amid a battle for talent in the D&O market.
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Chris Warrior will take on additional responsibility for professional indemnity, cyber and transactional liability.
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The broker has reported successive slowdowns since rate increases hit a high in Q1 o 2020.
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Plus the latest in aviation broking account wins and all the top news from this week.
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The carrier has seen an exodus of financial lines staff amid a battle for top talent in the line of business.
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SPAC coverage has attracted favourable pricing, but underwriters are scrutinising claims trend following a boom in blank cheque activity.
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