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Writing credit wraps for LitFin firms and steering third-party assets to them should stop. -
The industry is seen as “resilient” amid a volatile risk environment.
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Growth and returns on equity fall, but most of the industry is still profitable.
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Shares were down as much as 20% after Hippo posted a $48mn loss.
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The MGA market now makes up 10% of the overall P&C market.
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The carrier said it is prepared to drop asset managers, lawyers, banks and brokers.
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In Partnership With ArchToday’s casualty market is “challenging” driven by shrinking capacity and tightening excess layers, said Pete McGuinness, EVP, national accounts casualty, for Arch.
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The market is also facing potential losses from injuries to NFL stars.
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The insurer has not decided whether to sell its Eaton subrogation rights.
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The program is designed to address a changing risk environment.
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As the industry gathers in Chicago, Insurance Insider US reviews key discussion points.
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The facility provides up to $100mn in claims-made excess casualty coverage.
