D&O (Directors and Officers)
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Hiscox, a lead market for D&O in London, takes its peer’s head of London market financial lines. -
Tegron Capital will launch in July and focus on excess-of-loss cover for publicly traded companies.
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The broker warns directors could face legal bills running into the millions of pounds.
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Underwriters and brokers are competing for talent amid hard market conditions in the class of business.
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Founders Philippe Gouraud and Yoel Brightman bring on board their former colleague.
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New York-based executive risk underwriter Jim Rizzo will lead the new product suite.
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The carrier is one of a number of players to have entered the D&O market as pricing continues to grow.
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Rising Edge will provide D&O cover for companies ranging from US-listed entities to private entities.
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Market sources report an uptick in competition to secure accounts as clients sought optimum deals in a challenging market.
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The continued expansion comes amid tough competition for talent in the hard D&O marketplace.
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The broker said that the carrier’s decision had forced some clients to rebuild policies from scratch.
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Market sources said that ongoing economic disruption is likely to keep pricing in the market high.
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