Professional lines

Ledgebrook launches A&E program with Obsidian led by Pearce

Tech-enabled E&S MGA Ledgebrook has brought in Carolyn Pearce as architects and engineers practice leader and launched a new offering in the segment with capacity from hybrid fronting carrier Obsidian.

Becker: Distinguished Executive Lines to launch with focus on exclusive distribution

The president of Distinguished Programs’ new executive lines business Ryan Becker has highlighted the importance of launching the offering with an exclusive wholesale-only distribution strategy as it prepares to begin accepting submissions in the new year, writing on the A++ paper of an RSUI subsidiary.

Amwins: Market is a “roller coaster” with no property softening in sight

Some segments of the E&S sector are seeing softening while others such as property face “the hardest market conditions in decades”, according to wholesale broking giant Amwins.

B&W: E&S casualty capacity readily available but “story is different” for property

In a 2023 outlook, wholesaler Burns & Wilcox has identified shifting dynamics that include capacity being plentiful for casualty and professional lines, but constrained for property.

D&O writers worry dramatic rate reductions will continue into 2023

The second half of this year has seen a notable fall in public D&O rates, with excess business particularly impacted as a result of new competition and incumbents fighting to keep business. The market is now asking whether this will continue into 2023 or whether there will be stabilisation.

ProSight set for pivot to specialty verticals model under new ownership

Newly taken private ProSight Global is creating a vertical structure largely focused on the specialty E&S market that will include the build out of property, primary/excess casualty and professional lines offerings and addition of senior underwriting executives to run them, The Insurer understands.

Lex names Chmieleski to new position of head of professional lines

AIG’s E&S platform Lexington Insurance has promoted Susan Chmieleski to the newly created position of head of professional lines in a move that will see her have oversight of the carrier’s healthcare, architects and engineers, and LexPro businesses.

Insurers add coronavirus exclusions, while additional coverage options also emerge

Insurers are adding coronavirus-related exclusions in a number of areas such as property, environmental, communicable disease coverage and event cancelation, while some carriers and brokers are also seeing opportunities to add new coverages.