Professional indemnity

The price per $1mn of directors' and officers' coverage fell 8.3 percent last year, according to Aon Risk Solutions.

Global commercial cyber liability premium is set to hit $6.2bn by 2020, with the services sector likely to be the biggest buyer of the standalone product in that timeframe, according to a report by data analytics firm Verisk.

JLT Specialty has hired Leon Steenkamp as head of tax insurance within its M&A insurance practice.

Pricing for directors' and officers' (D&O) insurance is getting firmer, albeit slowly and in distinct areas, while industry executives are heartened that market leaders are walking away from business if they have to.

Insurers that provided $130mn of D&O cover to Patriot National could face total losses on the policies unless a US bankruptcy court forces mediation of covered legal claims and temporarily halts related litigation, according to recent court filings.

Expansive MGA Nexus has made its fifth acquisition in 12 months with an agreement to buy professional lines coverholder Apsley Specialty.

Arch Insurance and US Specialty Insurance Company are seeking a judgment from the court of New Jersey to confirm they do not have to pay out for historic multi-million-dollar shareholder actions against pharmaceutical giant Pfizer.

Ryan Specialty Group has opened the doors at its first Latin America-focused managing general underwriter, Capital Bay Underwriting, in Miami.

Gail Cook has joined Lockton from Zurich, where she was head of financial lines.

Beazley has recruited a trio of financial lines underwriters, as the Lloyd's insurer continues to expand its presence in mainland Europe.

Arch Underwriting has appointed Alison Percival as regional manager for financial lines at its Australian business

WR Berkley has consolidated two professional liability units run from Chicago, combining Monitor Liability Managers with the Berkley Select operation there under the leadership of Joseph Shores, who had already been leading both organisations as president.