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At the year’s mid-point, there were 111 new SCAs filed in federal courts. -
The executive has experience as both an attorney and a broker.
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Property rates are coming under further pressure, while liability is being buoyed by ongoing challenging loss trends.
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He joined RPS in 1999 after a year-long stint as regional manager of Executive Risk.
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High general liability losses are cause for concern despite modest improvements in other lines.
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Catastrophe losses in Q1 exceeded $50bn, the second highest on record.
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The reinsurer confirmed Andrew Phelan’s exit, as of 15 May.
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Companies often purchase policies with limits far exceeding their actual exposure needs.
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Rate cuts are slowing as insurers agonize over claims trends, but capacity is high.
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Competition and ample capacity are pushing premiums lower.
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Large account and E&S property have gotten competitive faster than expected.
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Strong underwriting performance and aggressive repricing of risks in most lines has aided stability.
