Professional liability

Argo Pro hires former Brit professional liability underwriter Bongi

Argo’s professional liability unit has named Thomas Bongi as senior vice president underwriting, and head of architects & engineers and miscellaneous professional liability.

MPL specialist Coverys makes pair of ex-IronHealth senior hires

Medical professional liability (MPL) specialist Coverys has made two senior hires, with both having most recently worked for Ironshore’s healthcare specialist.

MedPro hires CNA Hardy’s head of specialty Buege

Berkshire Hathaway’s healthcare liability insurance platform MedPro Group has hired CNA Hardy’s head of specialty Rhonda Buege as it looks to further grow its business outside of the US.

ProAssurance points to firming healthcare PL rates as reveals 130% Q2 CR

Medical malpractice specialist ProAssurance has reported a Q2 operating loss of $32.4mn - driven by the non-renewal of a large national healthcare account - compared with operating income of $4.1mn in the prior period.

USC denied bid to arbitrate Arch dispute over sex abuse claims

A judge has denied a motion filed by the University of Southern California (USC) to compel arbitration of its dispute with Arch over cover for the alleged sexual abuse of hundreds of students by a gynaecologist.

MRSI confirms miscellaneous professional liability entry

Munich Re Specialty Insurance (MRSI) has announced the release of a miscellaneous professional liability offering for non-specialist, commercial businesses, a move that was first revealed by The Insurer last month.

Securities class action filings drop 12.5% in H1: R-T’s LaCroix

US securities class action (SCA) lawsuit filings in the first half of this year were down 12.5 percent on the same period in 2019 as a result of Covid-19, according to an analysis by D&O attorney Kevin LaCroix of R-T Specialty.

Calm between the storms

The 1 July renewal may have been conducted on a relative sea of tranquility compared to the swell that engulfed the Florida renewal a month earlier. But the water between here and 1 January is anything but clear.

Covid-19 to further fuel W&I’s soaring take-up

The Covid-19 outbreak will serve as yet further fuel to the fire of warranty and indemnity (W&I) insurance take-up with new data from Lockton highlighting how usage of the specialist coverage has soared in the six years to 2019.

Covid-19 to trigger a wave of legal malpractice claims

A survey by Ames & Gough revealed a surge in US legal malpractice claims in 2019, with the broker warning Covid-19 could spark a wave of claims similar to that caused by the 2008 recession.

Swiss Re partners with Lockton for lawyer PL program

Lockton Affinity will be the new program administrator for Swiss Re’s lawyer professional liability offering in the state of Tennessee.

Healthcare rates climb as insurers face Covid-19, abuse and opioid battles

Healthcare professional liability underwriters have been quick to impose Covid-19 exclusions and limitations on new and renewal business, but insureds are also having to contend with coverage cutbacks for sexual molestation and opioids against a backdrop of rising rates.

Covid-19 drives surging rates for senior care facilities

Loss hit senior living and long-term care facilities are facing liability rate increases of more than 50 percent at a time when the sector finds itself facing increased scrutiny owing to its potential Covid-19 exposure.

ProAssurance says long-term care exposure mitigated after cutbacks

ProAssurance has said the “significant reduction” in the amount of long-term care medical professional liability (MPL) business on its books over the last nine months means its exposure to the expected increase in sector claims from Covid-19 has been mitigated.

ProAssurance warns of possible “meaningful” Covid-19 impact in future quarters

Medical malpractice specialist ProAssurance has warned the Covid-19 outbreak may have “a meaningful impact” on its results in future quarters, although the business saw no material effects of the outbreak during the first three months of the year.

Ironshore reiterates commitment to long-term care MPL market

Ironshore has reinforced its commitment to the healthcare insurance sector including the long-term care medical professional liability (MPL) market amid notable recent withdrawals in response to the Covid-19 outbreak.

S&P highlights US P&C silent pandemic exposure

In addition to the business interruption liabilities arising from Covid-19 for the US property casualty sector, S&P Global Ratings has commented a number of business lines have silent pandemic coverage exposure.

Long-term care underwriters prepping for Covid-19 hit

CNA and Berkshire Hathaway Specialty Insurance (BHSI) are among long-term care medical professional liability (MPL) insurers facing the prospect of a swathe of liability claims as lawsuits begin to be filed against facilities alleging negligence and wrongful death related to Covid-19.

Broker E&O underwriters bracing for wave of Covid-19 claims

Broker E&O insurers including Swiss Re Corporate Solutions are facing a potential surge in claims from US retail agents and brokers sued by insureds alleging that they failed to properly advise about purchasing appropriate coverage for Covid-19 business interruption losses, The Insurer can reveal.

Canadian dentists provide Aviva pain over Covid-19 claims

Aviva is facing pandemic-related claims that could run into the hundreds of millions of dollars arising from an insurance program it has provided to Canadian dentists, The Insurer has learned.

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