Construction
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The firm took a major reserve charge and has gone into remediation mode. -
Intact Ventures, Era Ventures, Greenlight Re and Spark Capital also participated.
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The ratings agency assigned a group financial strength rating of A, with a stable outlook, to three new member companies of Builders Insurance.
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John Schwirtz will report to Matt Waters, head of Axa XL's US mid-market business, and build out a mid-market underwriting team.
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Jeff Banasz will serve as EVP with the Cobbs Allen division, establishing an inaugural office in Philadelphia.
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Inside P&C takes a closer look at the NY construction market, which represents a unique challenge to insurers and insureds due to density and strict labor laws.
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Ryan Powers will report to QBE NA president of commercial insurance Mike Foley.
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Competing forces of loss cost inflation and mixed rate action yield uneven trajectories for the largest commercial lines.
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The MGU has secured up to $10mn follow-form capacity on a non-admitted basis to cover general liability on complex construction projects in the US.
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Longo was previously underwriting manager for Axa XL’s construction group.
