Management liability

WTW: D&O excess ABC and side A rates poised for further reductions

WTW expects D&O pricing in the excess ABC and Side A segments to continue decreasing into softer market conditions including the lowering of insured limit factors (ILFs) and rate-per-million metrics.

Protector Plans launches new primary exec liability program

Brown & Brown-owned Protector Plans is offering a new primary executive liability program providing D&O, employment practices, fiduciary, employed lawyers, crime and miscellaneous professional liability coverage to both private and not-for-profit insureds.

Berkley Select unveils legal aid-focused ML and PL offering

Berkley Select has developed a new management and professional liability-focused product catering to organizations offering legal aid services, with the offering underwritten on the AM Best A+ rated capacity of its parent WR Berkley.

Ategrity adds Hiscox USA’s Karpp to lead new SME-focused M&PL offering

Ategrity Specialty Insurance Company has unveiled a new management and professional liability product that is targeted at small- to mid-sized business, with the E&S carrier recruiting Doug Karpp from Hiscox USA to lead the offering.

Allianz Commercial recruits Chubb management liability veteran Wedlin

Allianz Commercial has added Chubb veteran Eric Wedlin to its ranks, with the new hire appointed regional head of management liability commercial and management liability financial institutions for financial lines in North America.

Alliant hires D&O specialist Pelissier from Woodruff

Alliant Insurance Services has appointed Jared Pelissier as senior vice president, managing director at Alliant Specialty, with the management liability broker joining after 15 years with Woodruff Sawyer.

Liability market “disruption” expected as Nevada bans defence-within-limits provisions

The Nevada legislature has passed a bill prohibiting insurers from issuing policies containing a provision that reduces the limit of liability by the costs of the defence, a move that RT ProExec’s Kevin LaCroix expects will “generate disruption” for the professional liability and management liability market in the state.

SPG’s Euclid Fiduciary hires Coaction’s Lavigne as ML CUO

Specialty Program Group’s recently acquired Euclid Fiduciary division has hired Keith Lavigne from Coaction as chief underwriting officer, management liability.

Ascot confirms John Kuhn as head of large public D&O

Ascot has confirmed the hiring of John Kuhn from AIG as senior vice president for management liability and head of large public in its US insurance operations as it looks to grow into that segment of the D&O market, in a move first revealed by this publication.

Vantage promotes Wall to US financial lines head

Vantage Group has promoted Richard Wall to lead its US financial lines business, a role in which the executive will oversee the carrier’s management liability and financial institutions offerings in the country.

Ascot US makes large public D&O play with AIG’s Kuhn

Ascot US is entering the large public D&O market and has hired John Kuhn from AIG to spearhead the move, The Insurer can reveal.

BP Marsh to acquire stake in London MGA Verve Risk as its exits Castel platform

Specialist UK insurance investor BP Marsh is to acquire a minority shareholding in professional and management liability-focused MGA Verve Risk Partners, The Insurer can reveal.

Canopius announces US cannabis risk underwriting capability

Canopius Group has announced it has the capability to underwrite cannabis-exposed risks for privately owned and not-for-profit organisations.

AM Best: US gov’s SVB action saved D&O writers from potentially “significant” claims

US government action to make all depositors whole at collapsed Silicon Valley Bank means D&O insurance underwriters have avoided what could have been a potentially “significant” volume of claims from start-ups and venture capital firms, according to AM Best.

Westfield Specialty launches new management liability products

Westfield Specialty has unveiled a suite of management liability coverages including both public company primary D&O and excess liability, which the company will write on both an admitted and non-admitted basis.

Chubb promotes Hill to management liability leadership role

Chubb has appointed Steven Hill as executive vice president, leading management liability for the North America financial lines division, a promotion from his current role as senior vice president for the unit.

AllDigital looks to broaden offering with Lloyd’s-backed primary ML product

Blockchain and AI-driven MGA AllDigital Specialty is lining up Lloyd’s capacity for a new primary management liability offering with limits of $1mn to $5mn that will target insureds with up to $250mn in revenues to complement its existing primary and excess products, Program Manager can reveal.

Counterpart brings new quote-and-bind API to market

Insurtech Counterpart has unveiled its latest API for key broker partners including Brown & Riding, Bridge Specialty and Jencap, with the trio now able to offer clients quote-to-bind services for products including miscellaneous professional liability and D&O, among others.

Aon: US public D&O pricing falls YoY for third consecutive quarter in Q4

Average price per million for US public D&O insurance fell 15.3 percent in the fourth quarter year on year compared with a 19.9 percent drop in Q3 2022, Aon’s latest data shows.

Coalition and Zurich become partners in crime insurance

Insurtech Coalition has added crime and fiduciary liability insurance coverage to its executive risks offerings through a collaboration with Zurich American Insurance Company to protect small businesses.

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