-
Dale Krupowicz was also named head of operations for the segment. -
Insurers did not see a slowdown in rate but some are still fine-tuning their portfolios following the LA fires.
-
Q2 cat losses at AIG declined to $170mn from $330mn in the prior year quarter.
-
Hagerty Re will now assume 100% of the premium and 100% of the risk.
-
Weatherbys Hamilton provides private client, bloodstock and farm coverage.
-
The industry veteran has been in personal lines HNW for more than four decades.
-
When it comes to sympathetic juries, high net worth individuals are under the same pressure as corporations.
-
The January wildfires did little to hamper their appetite, apart from California.
-
The transition will be implemented starting October 15.
-
The executive has been with the firm for close to 15 years.
-
Wildfires resulted in heavy losses for insurers focused on HNW, personal lines and reinsurance.
-
The LA wildfires, however, will be the firm’s largest event to date.
-
Imported goods account for 30%-50%+ of materials used for HNW homes, versus 15%-25% in standard houses.
-
The counties make up for the majority of the state’s high net worth market, sources said.
-
The coverage will only be available in Illinois and Michigan at first.
-
The MGA recently secured capacity to write HNW homes in California.
-
Four cat modelers have also submitted their tech for regulatory review.
-
The carrier is only going to write new business on E&S paper, sources said.
-
Under the new guidelines, the carrier is requiring more distance from the brush.
-
Former PRS president Ana Robic was promoted to regional president.
-
Insureds often just want cover in place at the lowest price possible, and insurers oblige under the skeptical eye of regulators.
-
RenRe gave the highest anticipated market loss of $50bn.
-
After a period of re-assessing risk appetite, underwriters were signalling growth again – that was, before the fires.
-
There are many unknown factors including insurance gaps, high-value property and damage to critical infrastructure.
-
Investigators are homing in on the likely causes of the incidents.
-
Sources are saying 2025 could be as expensive for wildfires as the $20bn loss years of 2017 and 2018.
-
This could see it surpass the 2017 Camp Fire, which cost around $12.2bn.
-
Flatt will remain on the company’s board of directors.
-
The AIG and Stone Point-owned MGU will also look to move up-market, increase its weighting to E&S and add third-party paper.
-
The storm is projected to make landfall in the next 24 hours in the highly populated Tampa Bay region.
-
Milton stole the limelight from slightly stuck PE-backed brokers, acquisitive globals and the casualty conundrum.
-
The promotion follows a distribution trading partnership deal with MGU PCS.
-
The arrangement enables PCS to expedite growth.
-
The HNW carrier will launch in Canada this year, starting with Ontario.
-
Glatfelter CEO Chris Flatt will become interim chief executive.
-
The hires fill roles previously held by Martin Leitch and Dave Logan.
