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The broker has reported successive slowdowns since price increases climbed to a peak in Q1 2020. -
The wholesale broker launched the product in partnership with carrier Fortegra Specialty Insurance.
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The InsurTech’s D&O and EPL platform went live today after being announced at the beginning of November last year.
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Woodruff Sawyer noted that the SEC, Finra, and the DoJ are likely to continue focusing on the SPAC market in 2022.
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For the SPAC market, sources said that prices should continue to harden, while D&O rates are expected to stabilize amid a capacity flush.
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The hire follows the addition of former Berkshire Hathaway executive Michael Densham to expand the MGA’s Canadian operations.
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Panelists in the Burns & Wilcox Labor & Staffing shortages webinar said litigations could rise amid pandemic-induced staffing shortages.
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Although Aon views the market as “favorable” relative to this time a year ago, pressures related to claims capacity and coverage rates continue, albeit to a lesser extent.
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In his new role at the specialist D&O MGA, Densham will report to Banyan founder and CEO Tim Usher-Jones.
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Insolvencies are a key source of claims but have been prevented by government support measures during the pandemic.
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The company will partner with an in-house MGA that will provide paper to write management liability insurance for private cannabis operators.
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The broker has announced several senior leadership changes since John Doyle was promoted to group president and COO.
