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The program will offer limits between $500,000 and $5mn to small and mid-sized insurance businesses. -
Falcon Risk Holdings will initially focus on financial and cyber lines in the US.
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Rob Green transfers from AGCS London while Rick Hornby joins from NFP.
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Primary D&O policies renewing with the same policy limit received average rate hikes of 18.2%, compared with 26.2% in Q1 2020.
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The former financial lines CUO will start at the end of the month and be based in Switzerland.
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The senior underwriter joins the carrier from Chubb.
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Steve Kammann has switched roles at AIG, moving from CUO for North American financial lines, to be the division’s head of product.
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In its marketplace realities report, the broker notes that D&O rate rises are beginning to tail off.
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The carrier has also named Matt Gallagher as head of executive solutions and Ayesha West as head of cyber liability.
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Matthew Azzara joins the carrier from Nationwide.
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According to Cornerstone, this is the third consecutive year in which accounting allegations have risen.
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The management liability platform is supported by Evanston Insurance, a Markel company.
