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“Hammer letters” are going around, and insurers are struggling to coordinate on claims handling. -
State National is providing $160mn of adverse development reinsurance coverage.
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It is understood that the executive will report to Scott Meyer, now COO for NA Insurance.
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Former Chesterfield managing director James Stevenson moves to exec chair.
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The industry is mostly reluctant to raise capital with high interest rates, except for brokers.
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It is understood that the shutdown will impact about 25 employees.
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Dellwood recently appointed Aspen’s Felicia Rawlin as head of property.
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Worsening claims activity, privacy concerns and emerging threat actors have yet to reflect in pricing.
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The flattish outcome comes after a larger year-on-year hike in January.
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Seven members of the construction team have resigned, including construction practice leader Patrick Baker.
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Gangu will likely take a gardening leave after vacating his post to consider future steps.
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“I think it just starts with people just being desensitized to these numbers,” he said.
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