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The scheme aims to fill the gap left when private sector carriers exited the market following the Grenfell disaster. -
The hire of Ben Phillips comes amid a recent uptick in personnel movement in financial lines after a period of stability.
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Inflation will define priorities such as a focus on safeguarding clauses and pricing transparency, as well as line of business challenges, for underwriters and actuaries in the year ahead.
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The appointment comes following the departure of Renette Pretorius, who is joining Berkshire Hathaway Specialty Insurance.
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Sources said that some entities were exhibiting “sheer desperation” to hit 2022 plans, driving down prices.
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The executive has worked at the carrier for over nine years, initially within the accident and health team.
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The appointments come following the exit of underwriter Matthew Howard-Coombe to Starr.
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The broker said clients could achieve broader terms and higher limits in D&O, although there was frustration over pricing fluctuation.
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The MGA writes management liability, professional indemnity, crime and cyber risk.
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The rapid cooling of the US SPAC and de-SPAC market could also prove fertile ground for the plaintiff bar.
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The underwriter joined CNA Hardy last year amid a flurry of people movement in the D&O market.
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Are we set for the shortest softening D&O market ever?
