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The carrier will be actively targeting excess lines on US-listed placements, where capacity has been shrinking.
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Workers’ comp rates turned positive for the first time in over 5 years, CIAB data showed. -
All accounts renewing in June received rate increases, compared with 96% in May.
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Carriers on risk are understood to include AGCS, QBE and Axa XL.
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Hardening in the financial lines market has been exacerbated by fears over Covid-19.
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Are the elements needed for a sustained hard market in play? Not so long as capital is knocking the door down to get into the market at the merest sniff of opportunity.
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In court documents, the defence company says Aon failed to provide sufficient claims notification advice.
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Umbrella covers and commercial property "hardening at fastest pace since 9/11”.
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The use of exclusions could leave the personal assets of directors at risk in the event of legal action.
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New data from Aon on D&O pricing in Q1 shows continued acceleration of rate increases.That said, we still see the true story as more balanced, with excess pricing changes distorting headline figures.
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Global pricing for financial business risks rose by 26 percent in the quarter, according to the broker’s survey.
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Tesla says it has not renewed D&O cover for the 2019-20 policy period because of the cost of premiums.
