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Emerging lawsuits and expanding loss triggers are giving rise to potential claims under a range of policies.
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The underwriter was head of financial institutions at LSM for six years.
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The company has struggled in reinsurance, while large claims dragged down D&O results in Q2.
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The broker has noted that double-digit reductions are increasingly available in property.
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The insurer denies it is responsible for the actor’s legal fees.
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Claims were concentrated in the US, with a significant increase in D&O class actions.
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SiriusPoint will provide 100% capacity for Pen’s international PI portfolio.
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The MGA has also appointed Probitas alumnus Kiran Wignall.
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The executive previously held roles at Capgemini, The Hartford and AIG.
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Rates continue to drop as capacity is ample, the broker said.
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Property rates are coming under further pressure, while liability is being buoyed by ongoing challenging loss trends.
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Errors and omissions claims made up 55% of all notifications, continuing a five-year trend.