Posts Tagged ‘professional liability’



November 14th, 2011

Continental European Legislative and Judicial Trends: Directors and Officers (D&O) Liability Insurance: The Emerging Market in Poland

Posted at 1:00 AM ET

David Lewin, Managing Director

Introduction

Directors and officers (D&O) insurance has grown steadily in popularity since it was introduced in Poland 15 years ago. Accompanied by a rise in risk-aware corporate leadership, D&O insurance has evolved from an unknown product in the mid-1990s to a near necessity during periods of economic instability.

Continue reading…

July 26th, 2011

Focus on Hurricane Season at July 1, 2011 Reinsurance Renewal: International Casualty - Australia & New Zealand

Posted at 1:00 AM ET

There are a handful of casualty placements in Australia/New Zealand at the July 1 renewal. General casualty rates were flat. Most reinsurers seemed either reluctant or were instructed by their boards to not give up any rate levels. Renewals proceeded on a case by case basis. Where good claims experience and change in exposure mix justified it, reinsurers accepted rate reductions of up to 5 percent.

Continue reading…

July 21st, 2011

Focus on Hurricane Season at July 1, 2011 Reinsurance Renewal: International Casualty - Europe

Posted at 1:00 AM ET

Motor

UK:

Original rates continued to increase, particularly in the private car sector, where rates are moving upward at an average rate of 1 percent to 2 percent per month. Movements in commercial rates are less pronounced, but year on year rate movements are increasing in the range of 5 percent to 10 percent.

Movements in the original rates, combined with substantial excess capacity in the reinsurance market, mean that reinsurance rates were generally flat. Accounts with good loss experience saw reductions of up to 5 percent.

Continue reading…

June 9th, 2011

Jonathan Stephenson Named CEO of Guy Carpenter’s Pacific Region

Posted at 8:40 AM ET

Guy Carpenter & Company announced that Jonathan Stephenson has been appointed Managing Director of Guy Carpenter’s Australia operations and CEO of the firm’s Pacific region, effective July 1, 2011.

Continue reading…

February 3rd, 2011

Chart: Professional Liability Lines - Typical Excess of Loss Rate Changes at Jan. 1

Posted at 1:00 AM ET

fig-28

Click here to read the Executive Summary of Guy Carpenter’s report: Global Reinsurance Outlook: Points of Inflection; Positioning for Change in a Challenging Market >>

Click here to register to receive e-mail updates >>

January 27th, 2011

2011 Reinsurance Renewal Rates: Medical Professional Liability

Posted at 1:00 AM ET

141x141jan1thumb40Medical professional liability reinsurance rates remained flat year-over-year for working layers and high-risk excess programs. A strong primary market contributed to this trend, along with increased cedent retentions relative to 2010 (and, for that matter, 2009). There was ample capacity available at the January 1, 2011 renewal to meet cedents’ needs.

Continue reading…

January 26th, 2011

2011 Reinsurance Renewal Rates: General Liability & Professional Lines UK

Posted at 1:00 AM ET

141x141jan1thumb37The difficult economic environment continues to be of concern to insurers across all casualty and professional lines. The erosion of underlying fees/turnover/payroll affects premium levels for all lines. Increased incidence of fraud particularly affects professional lines and employers’ liability insurance.

Continue reading…

June 8th, 2010

Continental European Legislative and Judicial Trends: Draft Bill on the Amendment of the Spanish Accounts Audit Act: Potential Impact on Professional Indemnity Policies

Posted at 1:00 AM ET

2010_legislative_thumb-2David Lewin, Managing Director
Contact

In the September 2009 issue in this series, Recent Legislative and Judicial Developments in Continental Europe Affecting the Casualty Insurance Industry, we referred briefly to the ongoing discussions around the controversial topic of auditors’ liability.

Continue reading…

March 16th, 2010

Medical Professional Liability Renewals Update

Posted at 2:00 PM ET

Insurers continued to post favorable results, with the medical malpractice class generating the highest return on equity for all commercial lines. The record industry profitability was fueled by historically low claims frequency, moderate claims severity and the release of loss reserve redundancies.

Continue reading…

November 18th, 2009

Protect Your Balance Sheet from Casualty Catastrophe Risk

Posted at 1:00 AM ET

small-lewinDavid Lewin, Managing Director
Contact

Indications of an economic recovery and fairly flat renewal are already beginning to obscure the experience of the past year. For professional liability insurers, this is particularly disconcerting, for even as balance sheets grow stronger, the implications of the largest casualty catastrophe in more than 70 years are still unfolding. The lawsuits and claims may take years to resolve, suggesting that the effects of September 2008 will be with us for quite a while. As the situation develops, professional liability insurers should use what they learn to revisit accumulations in their portfolios and take action to protect their capital — and shareholder value — from future worldwide chain reactions of liability exposure.

Continue reading…