D&O
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The underwriter, who used to head up D&O at Starr and Barbican, will lead an expansion into the class at the professional indemnity MGA.
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Increased disclosures being released by companies heighten the risk of inaccurate or misleading statements.
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Staff movement is high in the D&O market as carriers look to capitalise on buoyant market conditions.
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The nature of the hire demonstrates the level of competition for top talent in the sector.
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Staff movement in the D&O market remains high as carriers battle to secure top talent in a hard market.
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The start-up carrier has already appointed several Hiscox staff to build out its financial lines operation.
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The ratings agency warned that underlying loss activity remained high and new threats are emerging.
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The carrier said it was experiencing the hardest financial lines market for 35 years.
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Staff displacement in the D&O market is high following a tumultuous period of rating adjustment in 2020.
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Adjusted for large renewals and IPOs, the pricing index rose 7.7% in the second quarter.
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The broker said CUOs insisting underwriters renew with price increases risked losing quality business.
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A number of employees have recently resigned from the carrier as high staff displacement continues in the D&O space.
