Liability

Liberty Mutual’s Dolan: PFAS “emergent” and a very real threat

Increasing regulatory scrutiny around so-called forever chemicals is driving greater risk awareness, with Matt Dolan, president of North America specialty at Liberty Mutual Insurance and its Ironshore unit, telling The Insurer TV that the types of businesses affected are broad, including all kinds of consumer products.

Skyward Specialty launches E&S solution for individual healthcare providers

Skyward Specialty Insurance Group has brought a new healthcare E&S liability solution targeted at individual providers, including physicians, to market, in a bid to fill what the expansive carrier described as “a significant gap”.

PFAS: Causal link to personal injury could open litigation floodgates

The Insurer explores the industry’s approach towards managing exposure to PFAS liabilities.

Scor’s Nudo: Reinsurers not being compensated for heightened US liability risk

A deteriorating US tort environment, loss trend inflation, prior year development and flattening or reducing primary rates are all taking their toll on the US casualty market.

3M pursuing $1.6bn in insurance recoveries after $6bn earplug settlement

US multinational conglomerate 3M has revealed that it is seeking recovery under two sets of liability policies with total coverage of $1.6bn to offset a portion of a $6bn settlement of litigation related to hearing loss from earplugs.

Aon warns of potential climate-related liability claims as property remains challenging

The cost of climate change-related losses could extend beyond the property insurance market with insureds potentially turning to their suite of liability protections to help cover exposures, Aon’s Andy Marcell has warned.

Next adds umbrella/excess coverage and expands liquor liability availability

Small business-focused insurtech Next Insurance has added a commercial umbrella/excess liability to its product suite, and is offering its liquor liability coverage to seven additional states.

B&W: Transportation competition at highest level in a decade

Competition in the transportation insurance market is higher than at any point in the past decade, although the market remains far from soft even as rates in the sector begin to moderate.

Slice offering PHLY-backed E&S contractors GL coverage in nine new states

Small business focused insurtech Slice has extended the reach of its Philadelphia Insurance-supported excess and surplus lines contractors general liability coverage into Alabama, Arizona, Maine, Michigan, North Carolina, Oklahoma, Virginia, Vermont, and Wisconsin.

First Insurance begins writing GL business backed by Accelerant capacity

First Insurance & Risk Management is the latest addition to the Mission Underwriters turnkey platform, with the new small business-focused insurtech MGA offering GL coverage written on Accelerant National Insurance Company paper in eight US states, Program Manager can reveal.

Fitch: MPL posts 5.4% CR drop in 2022 but profit remains elusive in challenging market

The medical professional liability insurance market’s aggregate combined ratio improved 5.4 points in 2022 but still ended the year in the red, with Fitch Ratings warning that the sector’s return to a consistent underwriting profit “is unlikely”.

WTW partners with Clyde & Co on climate liability risk

WTW has teamed up with global law firm Clyde & Co in a move designed to leverage the two organisations’ expertise and knowledge of climate issues to help clients navigate the evolving risk and liability landscape.

Gallagher: Property flows into E&S market “have grown significantly” in H1

Two distinct markets have emerged in the US with extremely challenging conditions for property in contrast to stability for most casualty and liability lines, according to Gallagher, with the broker also highlighting a growth in property business flows to the E&S market that is “threatening to overwhelm” carriers.

Aon expands Praedicat partnership to develop new emerging liability exposure solutions

Aon has broadened its strategic collaboration with liability modelling company Praedicat with the broker set to benefit from a range of new tools through the tie-up to help better inform its client base.

WTW: Cyber continues to top D&O concerns as economic risks rise

Cyber perils continue to dominate the highest ranked risks for global directors’ and officers’ (D&O) with cyber attack, data loss and cyber extortion topping the list respectively in WTW’s D&O Liability Survey for the second year running.

Kennedys launches climate liability cover with TLCP and LSM

Law firm Kennedys has created a new insurance product in partnership with The Chancery Lane Project (TCLP), with help from Liberty Specialty Markets, to enable insurers to offer liability cover to commercial clients for climate-related injury or property damage claims.

Landi-led MGA Falcon Risk announces Sacco, Simmons appointments

Craig Landi-led management and professional liability MGA Falcon Risk Services has confirmed it has hired A&E specialist Mike Sacco and MPL executive Bruce Simmons, in moves that had previously been trailed by The Insurer.

Procore launches $50mn exclusive GL wrap facility through NCC with Aurenity backing

Procore Risk Advisors is set to launch an exclusive $50mn general liability wrap-up facility through wholesaler National Coverage Corporation with backing from start-up MGA Aurenity and a panel of E&S carriers, The Insurer can reveal.

Ledgebrook secures Everspan capacity for GL launch

Insurtech MGA Ledgebrook is set to begin underwriting its launch product of general liability for middle market insureds with $1mn/$2mn primary limits and up to $5mn to deploy to excess layers on the paper of Everspan backed by a panel of blue-chip reinsurers, The Insurer understands.

RPS’ McNitt: Litigation funding “a huge problem” for healthcare liability market

Third party litigation funding remains a “huge problem” for the healthcare liability market with the fast-growing industry helping to fuel record breaking nuclear verdicts, although despite the challenges carriers remain in growth mode with insurers hunting for new business along with rate increases, according to Risk Placement Services’ James McNitt.

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