Professional indemnity
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A number of staff will be leaving the D&O team as a result of the restructuring. -
The insurer denies it is responsible for the actor’s legal fees.
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Rates continue to drop as capacity is ample, the broker said.
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The offering will provide D&O, professional indemnity/errors and omissions, crime and cyber cover.
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The underwriter will manage and develop the MGA’s professional indemnity portfolio.
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The business will trade via London, the US and Canada.
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The appointment follows the departure of two Talbot PI underwriters last year, who left to join Faraday.
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The Aquiline-backed motor syndicate is hiring a team to lead a build-out in specialty lines.
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The appointment confirms the carrier’s prospective involvement in the rapidly hardening market.
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The appointment reflects a diversification push at the carrier.
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The broker will add a Belgian office alongside its London operation for post-Brexit trading.
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The insurer said that stripping out the effects of Covid-19 from counterfactuals would over-indemnify policyholders.
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Mike Newson will lead the division as PI and financial lines manager.
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Bermudian’s Lloyd’s platform to begin underwriting class by early 2021.
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The Allianz unit says the experience of the Sars epidemic suggests general liability claims are likely to remain benign.
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Olivier Hamon and Alice Batchili will write executive and professional lines products from the carrier’s Paris office.
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It will be led by senior M&A lawyer Rob Faasen.
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Michael Lock is the latest appointment to the team led by Niraj Perera, who joined from AJ Gallagher in April.
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The trade body says unpaid premiums and excesses risk making policies unsustainable.
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Massachusetts-based Surround will provide a variety of coverages in one combined policy with a flat price.
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Frank Amandi moves to the new post in Cologne after more than six years with the Allianz unit.
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He replaces Chris Mauduit, who has retired after leading the team for the previous five years.
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Average price growth accelerated to the fastest pace since the recovery began at the end of 2017.
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Global pricing for financial business risks rose by 26 percent in the quarter, according to the broker’s survey.
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Covid-19 has led to a surge in potential exposure in what was already a challenged market.
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Tesla says it has not renewed D&O cover for the 2019-20 policy period because of the cost of premiums.
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The syndicate reported a £25mn profit for 2019 as it delivered strong investment returns.
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Antonio Bellanca will lead the PI line, working alongside three former Neon colleagues.
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A round-up of InsurTech news from 13 March to 20 March.
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WTW’s former executive director of financial and executive risks will lead the division.
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Chloë Cox comes from Marsh JLT Specialty and Alex Atkinson was previously at Alesco.
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The analyst said claims development in the sector usually takes three to five years.
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Jarrod Schlesinger said insurers should engage with industry groups on the issue.
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Recent rate rises have been partially offset by rising defence and cost containment expenses.
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Fitch placed ProAssurance ratings on negative watch following the announcement of the acquisition, noting concerns about the medical professional liability space.
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Pre-adverse development cover, the carrier saw impact from directors’ and officers’ and mergers and acquisitions-related business.
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The broker has experience placing business for offshore law firms and trust companies.
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Inside P&C questions whether emerging pressures in medmal are receiving enough attention.
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The tussle over the financial lines broker comes amid rising competition for talent between rival insurance intermediaries.
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The downgrade comes following the carrier’s disclosure of impacts from a worsening tort environment.
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Shares of Travelers also fell by about 5 percent after the carrier reported its fourth quarter results on Thursday.
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The carrier expects to book a Q4 P&C loss ratio of between 134 percent and 148 percent.
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In its 2020 manifesto the association demands action to get the market segment moving.
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North American PL, international financial products and environmental liability latest shut-downs.
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Former Generali UK manager and head of financial lines hired.
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The new business segment will target premiums of about $50mn-$100mn over the next five years.
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Steven Moore will become lead underwriter for PI as Russell Newell moves to head up MGA Collegiate.
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The InsurTech, formerly named Verifly, sells short-term liability insurance for freelancers and small businesses.
