Posts Tagged ‘professional liability’



August 2nd, 2012

Asia Pacific Casualty at the July 1 2012 Reinsurance Renewal

Posted at 1:00 AM ET

Australia & New Zealand

The handful of casualty placements in Australia/New Zealand at the July 1, 2012, renewal continued to operate against a backdrop of a benign claims environment. As a result, reinsurers were constrained in their efforts to increase rates to offset their declines in investment interest income. General casualty lines renewed within a range of down 4 percent to up 3 percent, with reinsurers seeking rate increases of 3 percent to 5 percent.

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August 1st, 2012

European General Liability and Professional Lines at the July 1 2012 Reinsurance Renewal

Posted at 1:00 AM ET

Employers Liability/General Casualty - United Kingdom:

Reinsurance rate reductions were achieved on accounts with good performance. Those accounts with a notable PPO exposure and where reinsurance purchasing was at a higher attachment point were subjected to higher volatility loadings.

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May 7th, 2012

Continental European Legislative and Judicial Trends: Auditors’ Liability in Spain, From Unlimited to Limited

Posted at 1:00 AM ET

David Lewin, Managing Director
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Background

The September 2010 issue of this series covered the controversial topic of auditors’ liability, and subsequently the September 2011 issue referred to the Consolidated Text of the Accounts Audit Act of July 1, approved by Royal Legislative Decree 1/2011 (RLD 1/2011), which abrogated the Accounts Audit Act (AAA) then in force. The RLD 1/2011 has been in force since July 3, 2011. The following provides an update to the September 2010 report and expands on the issue.

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May 7th, 2012

Continental European Legislative and Judicial Trends: Insurance Market for Public Servants in Light of New Act on Financial Liability of Public Servants for the Grave Violation of the Law in Poland

Posted at 1:00 AM ET

David Lewin, Managing Director
Contact

Introduction

A new regulation, the act on the Financial Liability of Public Servants for the Grave Violation of the Law (FLPS), may impact the Polish insurance market in the next few years. FLPS concerns the financial liability of public servants towards the State Treasury, the territorial government unit or other legal persons that bear liability for damages inflicted while exercising public authority. The Polish Parliament passed the act on January 20, 2011, and it became effective on May 17, 2011.

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February 13th, 2012

January 2012 Reinsurance Renewal: U.S. Professional Liability

Posted at 1:00 AM ET

Directors & Officers

D&O reinsurance rates were flat slightly at the January 1, 2012, renewal, despite small rate increases on some primary and lower excess insurance layers in recent months. Pricing was more competitive on higher excess insurance layers and is down approximately 10 percent year over year. For 2012 modest price increases in primary and first excess insurance layers are likely, especially in light of rate changes over the past few months. Rate decreases on excess insurance layers will be smaller, resulting in a net flattening. Small and medium-sized businesses are likely to follow the same trajectory.

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February 10th, 2012

January 2012 Reinsurance Renewal: European Professional Lines

Posted at 1:00 AM ET

jan2012cover_gcci2Professional indemnity insurance original pricing remains stable, with occasional rate increases where premiums have been maintained on a reduced fee income or on those accounts impacted by adverse loss experience.

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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.

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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.

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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.

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