Professional indemnity
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Lloyd’s underwriters, Arch and Lexington will need to reach a new accord with victims of Allen Stanford’s $5bn investment fraud.
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The group will start by underwriting property, casualty, executive and professional lines.
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A New Jersey federal judge rejected insurers’ request to throw out key counts in the lawsuit.
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Despite performance improvement, the segment still faces challenges, the ratings agency noted.
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Bill Sullivan will retire after six years leading Berkshire’s casualty construction team.
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Sector posts profit in 2018 but mounting concerns mean challenges are on the horizon.
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“Distressed” D&O market pushes for correction as professional indemnity notches up double-digit rate increases.
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EC3 execs described low-to-mid single-digit increases on average, with aviation, property D&F and PI rates pushing higher. -
Mark Wood, Sarah Hughes and Adam Codrington will all join the David Howden-led firm.
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Arguments were held Monday before the US Supreme Court in a case that could open the door to more lawsuits and D&O claims.
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Jonathan Kennett will lead the operation following the fusion of the UK and Ireland and Chubb Global Markets teams.
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The planned disposal would be the latest in a series of run-off sales at the global insurer.
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