Property
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Casualty is less of a concern, despite reserving issues.
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Habitational, lessors’ risk and BOP accounts are among the most challenged.
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As the industry gathers in San Diego, these are the key discussion points.
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The company says its insurance policies “include significant property and inventory coverage”.
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Approximately 1.2 million units are vacant throughout the state.
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Overall economic losses hit $45bn in the first quarter of 2024.
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The carrier is also targeting E&S growth in property brokerage and global specialty.
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The US large property team will support middle-market and corporate clients.
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Concern about vague cat modeling language was a theme at a Tuesday workshop.
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The casualty segment posted $18mn of favorable reserve development across multiple accident years.
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Freeman has spent 11 years in property leadership roles with BHSI.
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Duncan Milne and Cabot Lyman are both leaving Aon for McGill.
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The ratings agency cited erosion in the company’s surplus position, among other developments.
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CoreLogic’s report for April 2024 saw rising costs across four common loss scenarios.
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Tropical Storm Risk (TSR) has updated its forecast for North Atlantic hurricane activity, predicting a "hyper-active season" in 2024, with activity being around 70% above the 1991-2020 climate norm.
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Compared to March, more sources shared accounts of rate declines and oversubscription.
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Westchester’s Kyle Garrett was named VP, executive underwriter for property.
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The oversubscription may signal additional capacity waiting on the sidelines.
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Ten states joined in the original suit.
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The announcement confirms earlier reports from this publication.
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Rate increases are expected to continue, but at a slower pace.
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Joe Morrello joined the firm in 2022 after serving as E&S property head at Beazley.
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The value of the bridge is estimated at $1.2bn.
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After the 2007-17 decade of “bad underwriting” carriers are recovering from “past sins”.