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WTW’s survey cites regulatory risk, health and safety precautions and bribery and corruption on the list of top D&O risks. -
The US continues to experience catastrophic flash flooding and heavy rainfall events that are impacting “inland” areas across the country, as well as coastal areas.
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Recent data shows an increase in InsurTech short interest and a slight uptick for brokers and P&C insurers as a result of economic uncertainty following the banking crisis.
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In addition to the loss-share transaction, First Citizens has agreed with the US regulator to share losses to provide future protection against potential credit losses.
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Inside P&C’s news team runs you through the key highlights of the week.
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A group of lenders have provided uninsured deposits of $30bn to support the ailing bank.
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Not only could raising venture debt become increasingly difficult for the sector, but InsurTech companies could also struggle to access their credit lines.
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D&O underwriters, as well as financial institution insurers supporting startups and venture capitalists, could have faced “financial distress” without government intervention.
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Costs of defending and settling lawsuits are likely to fall on the bank’s D&O insurers.
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Though insurers are not heavily invested in Silicon Valley Bank, Signature Bank, or in other regional banks at risk of contagion, the developing macroeconomic situation could impact P&C carriers more significantly.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
