Commercial E&S
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The program is being launched through subsidiary Southern Marine. -
Despite elevated ROEs, insurers have remained disciplined.
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California, Texas and Florida rose 15.7% in February and 29.1% in January.
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Coverage will increase to $20mn per building.
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The executive said AIG’s E&S arm can grow 20% a year and generate $4bn of new business.
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After a period of business building, MGAs will likely spend more time optimizing.
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Construction defects, GL and risk-managed professional liability lines saw the greatest headwinds.
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Surplus lines are still strong, but not the standout they used to be.
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The partnership will launch a new umbrella excess insurance product.
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Admitted insurer withdrawals and rising demand are pushing more entrants into E&S.
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Insurers and distributors must adapt or risk irrelevance.
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Industry veteran Tonya Courtney will lead the company’s newest E&S business.
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