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Richard Schmitzer will retire as E&S president and CEO, and Todd Sutherland will succeed him. -
The facility is a nudge towards a structural change, not a full-out assault.
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Both Chubb and Zurich will underwrite the risks, with Nico as the sleeping partner.
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He takes over from Amanda Lyons, who was promoted to global product leader last year.
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As the industry gathers in Chicago, Insurance Insider US reviews key discussion points.
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The facility provides up to $100mn in claims-made excess casualty coverage.
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The remediation process is on track for completion in the fourth quarter.
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New roles include CUO for primary and excess casualty and practice leader for complex specialty.
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The executive will begin serving as Hiscox USA’s CUO as of May 5.
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The program will offer liability coverage up to $5mn per occurrence.
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Everest’s US wholesale business is seeking to expand its market presence.
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However, the firm will take a “conservative approach” until the improvements are shown in data.
