North America
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The ruling comes as insurers face growing legal pressures following the January blazes.
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There are now 14 new companies writing homeowners’ policies in the state.
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The broker built out Lockton Re’s US casualty and professional lines treaty book.
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Green hushing is on the rise as Trump rows back on climate initiatives.
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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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Goldman will join Ascot next month to take on the newly created role.
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In North America, the median W&I claim payment in 2024 was $5.5mn, the highest on record.
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Errors and omissions claims made up 55% of all notifications, continuing a five-year trend.
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The cost comes in at $530.6bn, roughly $20mn lower than budgeted.
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Sources said NY-based Lee Equity is seeking to extend its investment in the TPA heavyweight.
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The platform will capture and standardise data from all submissions, the broker said.
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SRCC exposures are being studied more closely but fixing aggregation issues is a challenge.
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