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The ratings agency says the overlap between Robinhood’s D&O and cyber policies could also be tested by a slew of class actions. -
The mean value rose to $44mn over the period, up from $28mn in 2019.
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The new unit focuses on SME clients with under $150mn in revenue.
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Jeffrey Batt and Michelle Ingrassia will work with Aaron Basilius, who joined from Munich Re last July.
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Celerity will write public and private D&O business for the wholesale insurance market.
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Craig was previously president of healthcare at One Beacon Insurance, where she worked for 12 years.
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Lawyer Trevor Kirsh will report to Jason Stone, who joined in September to lead the Canadian M&A team.
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The return to the office and perceived slow business recovery could also lead to claims.
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Keith Lavigne is the latest executive to leave his post as the war for casualty underwriting talent heats up.
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Carriers are reducing policy limits, increasing deductibles and imposing tighter T&Cs.
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Underwriting sources say negative newsflow around deals and greater deal scrutiny from the SEC has tempered appetite for such risks.
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Trans Re exec Brian Finlay says private company D&O and EPL are two segments where claims from the virus are filtering through.
