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The carrier has made several recent high-level promotions. -
The July downtime will increase relevance, demand and innovation for the market.
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Palomar acquired FIA for 1.7x closing book value to enter the surety market.
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The CEO said he expects cyber rates to start flattening post-loss.
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He succeeds Rob Clark, who was appointed global broker account lead.
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The industry could weather a recession, unless loss costs and reserving pressures worsen.
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In tandem, Mike Falvey will transition to executive chairman, effective January 1.
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The broker said less than 1% of companies globally with cyber insurance were impacted.
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This follows the insurer reporting $56.4mn of losses from intellectual property business in Q2.
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This expansion will protect against risks faced by transportation and logistics businesses.
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Securities class actions are a perennial source of claims for D&O insurers.
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