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Insureds that have taken higher retentions or less limit due to increased cost could be exposed this year if there is a major cat event, according to Swiss Re’s Kyle Burnett. -
Everest is expecting to appoint a leader to head up the new wholesale operations over the next 30 to 45 days.
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The agency cited net underwriting losses, inflationary and supply chain pressures, and elevated reinsurance costs as factors leading carriers to pull back in cat-exposed US states.
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The Canadian fronting carrier has been expanding its surety business in the US for several months through various initiatives.
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The unit will focus on commercial risks with a specialized approach in niche verticals, such as construction, commercial real estate, hospitality, manufacturing and technology.
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Inside P&C considers some key themes attendees at this year’s conference should be considering on the boats and marinas of San Diego’s harborside.
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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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Everest North America insurance president Mike Mulray will head up the business on an interim basis while the carrier appoints a permanent unit leader.
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Ratings agency AM Best has revised its outlook to negative for Realign Insurance Group, which includes American Summit, National Summit and Summit Specialty Insurance.
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Inside P&C’s news team runs you through the key highlights of the week.
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Competing forces of loss cost inflation and mixed rate action yield uneven trajectories for the largest commercial lines.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
