Professional liability

Mosaic confirms addition of Hamilton’s PL head Jay and FI leader Webb

Start-up Mosaic has confirmed it has hired Anna Jay and Chris Webb from Hamilton Managing Agency, as this publication first reported in November 2020.

ProAssurance completes Norcal acquisition

Medical professional liability and workers’ compensation specialist ProAssurance has completed its acquisition of Norcal Group.

RPS: Public D&O market peaking following excess correction

Among the takeaways in a 2021 management and professional liability market outlook from Risk Placement Services (RPS) are the US public D&O market appears to be peaking, the number of bankruptcy exclusions in private D&O has exploded, and carriers are cutting back capacity in the relatively flat lawyers professional liability market.

Mosaic confirms Clack hire as deputy active underwriter

Danny Clack’s appointment as deputy active underwriter at Mosaic has been confirmed, with this publication having first linked the former Hamilton casualty head at Lloyd’s with a move to the start-up last November.

Skyward Specialty new HPL unit ready to write business as it bolsters team

Skyward Specialty Insurance Group has strengthened its newly formed healthcare professional liability (HPL) team with the hires of April Gilcreast and Chantelle Burton, with the Brenda Craig-led unit now ready to begin quoting business to its producer partners.

Everest names new heads in financial and pro liability unit

Everest Insurance has made four new internal appointments in its financial and professional liability platform as the carrier continues its management shakeup of the unit.

Berkley Service Professionals adds Core Specialty’s Sedliak

WR Berkley’s Berkley Service Professionals has brought in Jude Sedliak as a vice president of underwriting with the new hire joining after more than five years at StarStone/Core Specialty.

MarketScout: US commercial rate increases level off at 7% in Q1

MarketScout has reported that the average US property casualty commercial rate increase in the first quarter was down slightly over the previous quarter at 7 percent, with umbrella, professional liability and D&O rising the most with double digit increases.

ProSight hires Everest Insurance financial lines head Lavigne

Keith Lavigne has joined ProSight Specialty Insurance as senior vice president, with the new hire most recently serving as head of financial lines at Everest Insurance.

USC reaches $1.1bn settlement of sex abuse claims

Insurers are in line to pay a portion of a $1.1bn total settlement of all claims against the University of Southern California (USC) over the alleged sexual abuse of hundreds of students by a gynaecologist.

BHSI adds another ex-AIG exec to professional lines team

Berkshire Hathaway Specialty Insurance (BHSI) has once again turned to AIG as it fills out its US liability ranks, with private and non-profit management specialist Keith Freid the latest to make the switch.

Former Ironshore exec Flood launches ML and PL-focused Atri

Greg Flood has unveiled his new management and professional liability-focused offering Atri Insurance Services after building out a heavyweight team that includes former senior AIG executive Kristian Moor, ex-Ironshore colleagues Bill Brennan and Michael Mitrovic, Chubb’s Russell Fierstein, and former OneBeacon president John Iannotti.

Canadian MGA Shore Underwriting continues build-out as secures Arete Capital investment

Toronto-headquartered MGA Shore Underwriting has secured investment from private equity firm Arete Capital as the professional liability-focused firm scales up its operations, The Insurer can reveal.

Zurich exits US environmental PLL but market viewed as “robust”

Zurich’s US environmental practice has stopped writing site-specific pollution legal liability (PLL) having previously been a major player in the space, with broker CAC Specialty commenting that capacity remains abundant because of new entrants in recent years.

ProAssurance swings to operating profit as Norcal deal moves towards close

ProAssurance has reported fourth quarter operating income of $3.3mn, compared with an operating loss of $68.4mn in the prior period, while California’s insurance regulator has completed its review of Norcal’s conversion documents, moving its acquisition by ProAssurance one step closer.

BHSI adds AIG’s Norman to management liability team

Berkshire Hathaway Specialty Insurance (BHSI) has expanded its US executive and professional lines leadership team, with Shelley Norman joining from AIG and Kevin Gallagher and Sean Cox handed promotions.

Nexus adds Hiscox USA’s Socrates to target ML and PL growth

Nexus Group has appointed Denise Socrates as vice president in its US management and professional liability team.

Coverys CEO Hanson to hand over reins to COO Murphy

Medical professional liability (MPL) insurer Coverys has announced that its president and CEO Gregg Hanson will retire at the end of March, with chief operating officer Joseph Murphy succeeding him.

Stock market volatility will add to social inflation pressures: AM Best

Insurers providing directors’ and officers’ (D&O) and professional liability coverage could face a surge in claims costs as a result of litigation spurred by recent stock market volatility, AM Best has warned.

Epic takes senior Aon FI duo Prentis and Bowlus

Expansive private equity-backed intermediary Epic Insurance Brokers & Consultants has added Aon San Francisco executives John Prentis and Larry Bowlus to its executive risk and cyber practice.

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