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“Unfortunately, it's a situation of getting rate to fund [the litigation costs] and being able to stay in the market long term,” Taylor told Insurance Insider US in an interview. -
The new financing builds on the $148mn raised to date and follows recent belt-tightening measures that included layoffs.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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On a conference call with analysts, CEO Michael Kehoe described high growth rates from over the last five years as an “anomaly” and warned investors of possible "mean reversion” ahead.
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The unit will focus on commercial risks with a specialized approach in niche verticals, such as construction, commercial real estate, hospitality, manufacturing and technology.
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The executive joins Atain after over a year at German insurer HDI Global, where she was executive underwriter.
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The first signs of limit expansion, growing appetite in the admitted market, and retail brokers' impatience with wholesalers are all evident.
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The exit of the start-up line will allow the company to apply its resources and underwriting expertise to other segments.
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One question in the community is whether nuclear verdicts this year will spark a re-acceleration of rates, especially in the lead excess layers.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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While panelists agreed that tort reform is needed, they also noted that it couldn’t be achieved by force from the insurance industry alone.
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General and products liability rate increases will slow down in 2023, with an expanding number of insureds expected to experience flat to 5% hikes as the year progresses, according to USI.
