D&O
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As the industry gathers in San Diego, these are the key discussion points.
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Rooker joined the Texas brokerage in 1999, while Schramm joins from CNA.
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Michael Smith is a former mortgage broker.
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The policy offering expands third-party liability coverage and wage and hour liability.
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Prices for programs that renewed in both Q1 2023 and Q1 2024 decreased 15%.
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The hire comes after the company’s recent rebrand from Capitola Insurance.
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The executive has been with Zurich since 2018.
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The plaintiffs – three former claims adjusters – were each awarded $25mn in punitive damages.
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The US regulator faces litigation from both sides of the climate issue.
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A total of 30 carriers entered the US public company D&O space in 2023.
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Chres Lee was previously M&A counsel for Liberty Global Transaction Solutions.
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Given ample capacity and no sharp increase in demand, a market sea change is not expected, barring an unforeseen economic event.
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WTW said the rise of the risk from health and safety was “surprising”.
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This continues a consecutive quarterly gain of over 6%.
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Executives at D&O Plus said the pain from deploying those limits is being felt.
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The ratings agency said growing competition has led to lower pricing.
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The broker has been adding to its capabilities in the region.
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The pace of price decreases has eased since Q2 last year.
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The percentage of cases that could lead to higher losses increased in 2023.
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This publication recently noted that ongoing rate declines and questions about past accident years are leading to calls for D&O price discipline.
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Frequency and severity are both ratcheting up at a time when there are already questions about rate adequacy.
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Directors and officers face an increased risk of litigation next year, according to a report.
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Issues over reinsurance pricing and capacity continued to plague commercial property.
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Distinguished will initially offer a true follow-form excess product covering D&O, employment practices and fiduciary liability for public, private and non-profit risks.