Hudson confirms acquisition of Validus Specialty professional lines renewal rightsHudson Insurance Group has completed a business transfer agreement with AIG-owned Validus Specialty Underwriting Services for the renewal rights of a professional lines portfolio, a deal first revealed by this publication in October.
BHSI promotes duo to lead US FI businessBerkshire Hathaway Specialty Insurance (BHSI) has named Sachin Warty as head of financial institutions for the Central and West Region, and Chris Polechronis as head of financial institutions for the East Region.
Axis adds Bermuda professional lines underwriter from XLAxis Insurance has hired Angus Lynn as vice president and professional lines underwriter in its Bermuda office, with the new addition joining from XL Bermuda.
QBE NA makes four more financial lines hires from Berkshire HathawayQBE North America has made further hires in its financial lines business from Berkshire Hathaway, with the appointment to leadership positions of four senior industry veterans.
Aspen Re America names Axis’ Cifuentes as head of professional linesAspen Re, the reinsurance segment of Aspen Insurance Holdings, has named Ana Cifuentes as head of professional lines for Aspen Re America.
Professional lines writers struggling to adjust to Covid challenges: AM BestAn AM Best survey of US professional liability insurers and brokers has revealed the variation in price increases across different segments and the expectation of a sizeable uplift in claims resulting from Covid-19.
Lloyd’s broker Direct launches PI & financial lines unit with Newson hireDirect Insurance London Market (DILM) has entered the professional indemnity (PI) and financial lines market with the launch of a new division headed up by SSL Endeavour’s Mike Newson.
Howden builds financial lines practice with Bennett hireHowden has appointed Jane Bennett to further strengthen its financial lines offering amid the hardening market.
Chaucer to provide capacity for K2 FinancialChaucer has agreed to provide capacity for London-based underwriting platform K2 International in an arrangement that took effect on 1 November.
US public D&O pricing surges by 67.9% in Q3: AonPricing in the US public directors’ and officers’ (D&O) market continued to dramatically increase in the third quarter with the average price per $1mn of limit climbing by 67.9 percent year on year, new data from Aon shows.
Lockton hires Marsh’s Cancro to lead national insurance company practiceLockton has brought in Chris Cancro from Marsh to lead its national insurance company practice in a role which will see him support the creation and placement of directors and officers and errors and omissions programmes for carriers.
Holes in upper layers driving more D&O business to wholesale market: AmWINSNew capacity is coming into the US public directors’ and officers’ (D&O) market but more holes are appearing in middle and upper layers, which is driving more business to the wholesale market, AmWINS has reported in a professional lines update.
Axa XL committed to London Market cyber, PI and M&A despite ML and FI exitAxa XL will no longer write London Market management liability (ML) and financial institutions (FI) business over profitability concerns, but has reaffirmed its commitment to cyber, professional indemnity and M&A insurance business in EC3.
Swiss Re CorSo names Coppola as FinPro head, promotes Smallcombe and RodriguezSwiss Re Corporate Solutions has announced three leadership appointments in its financial and professional services (FinPro) underwriting team, including naming Laura Coppola as global head.
Rates soar in solicitors’ PI during “challenging” October renewalSolicitors have faced premium increases of up to 50 percent as they look to secure professional indemnity insurance cover in the run up to the 1 October renewals.
Beazley expands US executive risk team with six appointmentsBeazley has added underwriting and claims talent to its US executive risk team with hires from Chubb, Aon, Zurich and CNA.
Willis hires Russell-Vick after three decades at MarshWillis Towers Watson has appointed Mark Russell-Vick as head of broking for its Great Britain financial, executive, and professional risks (Finex) line of business.
EPL rate increases moved into double digits since March: AmWINSRate increases for US employment practices liability (EPL) insurance have gone from single to double-digits since March, while carriers have moved to add Covid-19 and biometric data exclusions, according to wholesale giant AmWINS.
Beazley hires four cyber and executive risk underwriters in MidwestBeazley has strengthened its Chicago-based cyber and executive risk (CyEx) division with four new underwriters, who join from Allied World, Hiscox, Zurich and Allianz.
USC denied bid to arbitrate Arch dispute over sex abuse claimsA judge has denied a motion filed by the University of Southern California (USC) to compel arbitration of its dispute with Arch over cover for the alleged sexual abuse of hundreds of students by a gynaecologist.