D&O (Directors and Officers)
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The deal is the D&O MGA’s first acquisition since launching in 2021.
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Securities class actions are a perennial source of claims for D&O insurers.
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Q2 was the ninth consecutive quarter of year-over-year price decreases.
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Underwriters fear that misleading statements about AI capabilities could result in claims.
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Prices for programs that renewed in both Q1 2023 and Q1 2024 decreased 15%.
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The US regulator faces litigation from both sides of the climate issue.
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Rates continue to trend downwards in the D&O class of business.
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The move comes as rates continue to decrease in the D&O class.
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A total of 30 carriers entered the US public company D&O space in 2023.
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There is frustration in the market that remediation work has been squandered.
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WTW said the rise of the risk from health and safety was “surprising”.
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The findings have implications for businesses and D&O.
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Insurance Insider reported last year that the facility was relaunching.
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The broker has been adding to its capabilities in the region.
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The pace of price decreases has eased since Q2 last year.
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This publication recently noted that ongoing rate declines and questions about past accident years are leading to calls for D&O price discipline.
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The Hartford, Canopius, Newline, QBE, CNA Hardy, Travelers, Hamilton and Volante are participating in the facility.
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Sources said that there was still rating adequacy in the market, but that further pricing falls would be unsustainable.
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The D&O market continues to soften, following several years of substantial rate increases.
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A-Star offers up to $80mn in additional capacity for D&O liability insurance.
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The decline marked the sixth consecutive quarter of double-digit pricing declines.
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Hema Mistry returns to the UK to run the finpro division, following a stint at the broker in San Francisco.
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Sources said a move towards facilities was the latest evidence of market softening in the D&O class.
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