Zurich
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Fears relating to an economic downturn continue to dominate concerns. -
The fashion brand says the insurer failed to defend it in multiple lawsuits.
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The reshuffle is likely laying the foundations for the eventual succession to CEO Mario Greco.
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The MGA secured a “significant strategic investment” from Zurich earlier this year.
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The executive previously spent more than 16 years at The Hartford.
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The $20bn+ TIV data center is seen as the leading edge of significant new demand.
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The insurance industry’s lower reliance on foreign skilled workers softens the blow.
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The company also encouraged insurers and brokers to support the initiative.
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The cyber business will continue to operate as a standalone entity.
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Kirsh was involved in launching an industrywide “legal system abuse coalition”, which now has 350 participants.
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US national accounts head Paul Lavelle will retire as of June 1.
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He was most recently middle market casualty leader and EVP at Chubb.
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The take-up rate will depend on the price discount and market segment.
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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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The facility provides up to $100mn in claims-made excess casualty coverage.
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The carrier is looking to accelerate E&S growth after 7% expansion in 2024.
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The insurer claims Jessica Balsam still holds Zurich confidential information.
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The division is seeking to place underwriters in regions across the US.
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Also, John Diaz will lead a customer and distribution management function.
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The sale of the business was confirmed in June.
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GWP declined to $11.1bn from $11.3bn in the US and to $484mn from $527mn in the rest of the region.
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He succeeds Rob Clark, who was appointed global broker account lead.
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This publication reported yesterday that the two carriers were nearing a deal.
