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Latest News
Notes from WSIA 2023: ‘Has the market reached peak fronting?’
Besides Vesttoo’s downfall, other hot topics during this year’s WSIA were talent, competition in the E&S sector and commercial auto.
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In addition to price, E&S insurers need to pay close attention to terms and conditions, as well as quality of risk. -
Secondary perils are adding uncertainty, while modelling is still relatively unsophisticated.
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Everest North America insurance president Mike Mulray will head up the business on an interim basis while the carrier appoints a permanent unit leader.
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Ratings agency AM Best has revised its outlook to negative for Realign Insurance Group, which includes American Summit, National Summit and Summit Specialty Insurance.
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Ali previously led Amwins Specialty Casualty Solutions, a full-service MGA specializing in niche workers' compensation, casualty and professional liability products.
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However, data also shows that the pace of growth overall in the E&S market has slowed in recent years in terms of premium and number of transactions.
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Differing trends in short- and long-tail lines offset each other to create a net positive for the industry, though the releases are slowing significantly.
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The carrier’s E&S property book is “up 29%, with 25 points of rate”, said the executive.
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The Hanover has tapped Stephanie Seibold as president of alternative markets and Arthur Barrett as president of programs.
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It is more dependent on property, and its longevity is uncertain.
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Florida posted 8% growth for August, marking a stark decline from 48.8% in July, while Texas’s surplus line premium grew 16.7% year-on-year, down from 28.1% the previous month.
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The market has passed a watershed around the apportionment of losses for attritional cat events between insurers and reinsurers.
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For insurers, the Golden State is one of the last places they want to face disputes or lawsuits with consumers.
Interviews
Interviews
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In Partnership With AXISGlen Manjos offers his thoughts on the cyber insurance market today.
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In Partnership With Argo GroupAshley Heline, AVP Marketing & Producer Management at Argo Group, discusses how the insurance talent shortage creates opportunities for young professionals to step up – and how the resources at Ascend With Argo can help them do just that.
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In Partnership With Argo GroupArgo Group’s Alyssa Joubert, VP, Marketing and Distribution, discusses building relationships in hybrid work settings – and shares how Ascend With Argo can help producers and underwriters develop the skills to form meaningful connections.
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