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Sources indicated that Tesla could be self-insured for its employment practices liability exposure. -
The California-based executive will oversee the underwriting strategy of Axa XL’s commercial E&O business in the region.
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With litigation easing and more competition in the market, Woodruff Sawyer predicts slower rate increases for D&O coverage.
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As federal courts and the SEC take a more critical view of the vehicles, D&O underwriters are approaching coverage with caution.
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The ratings agency warned that underlying loss activity remained high and new threats are emerging.
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The Houston-based specialty carrier named Jim Mormile it’s new professional liability chief, added five QBE NA underwriting executives, and a pair from Markel.
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Adjusted for large renewals and IPOs, the pricing index rose 7.7% in the second quarter.
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The broker said CUOs insisting underwriters renew with price increases risked losing quality business.
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The business will be headed up by Tim Usher-Jones, a former Chubb D&O executive in the Canadian market.
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Buying D&O insurance for special purpose acquisition companies (SPACs) has become difficult, even by the exacting standards of the current hard market for executive liability market risks, Amwins noted in a report this week.
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The program will offer limits between $500,000 and $5mn to small and mid-sized insurance businesses.
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Falcon Risk Holdings will initially focus on financial and cyber lines in the US.
