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The facility provides up to $100mn in claims-made excess casualty coverage. -
The executive has been with the firm’s underwriting team for over 12 years.
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The California wildfires in January accounted for $460mn of Q1 cat activity.
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The impact could also raise home-building costs by $10,000 per unit.
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Specialty insurer’s global chief of claims warns others about the allure of AI.
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Customers are demanding more in a larger move towards the E&S market.
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The company is also pursuing “deconcentration” to lower SCS exposure.
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But automotive repair costs are likely to increase faster than home repair.
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Primary and excess casualty in the US saw double-digit rate growth and remained above loss trends in Q1.
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The remediation process is on track for completion in the fourth quarter.
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The reinsurer also promoted Ethan Allen to chief program officer.
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It acquired wholesaler ARC Excess & Surplus, confirming an earlier report from this publication.
