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Reforms would seek to tamp down legal costs that can drive insurance costs up.
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The CEO said there’s only one public pure wholesale broker, Ryan Specialty, and its IPO was in “favorable conditions”.
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The July downtime will increase relevance, demand and innovation for the market.
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Britt Sellers joins as head of brokerage casualty and Tyler Turk as director, primary casualty.
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The legacy firm said the deal would strengthen its Bermuda operations.
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Rand said the company remains “very bullish on the long-term value that NORCAL brings.”
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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 promotion follows a distribution trading partnership deal with MGU PCS.
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Stephen Buonpane will lead the division, with Danielle Stewart as COO.
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The industry could weather a recession, unless loss costs and reserving pressures worsen.