Markets

Crump Property & Casualty said it has reached a “standstill agreement” with a former employee and a competitor, Ryan Specialty Group's R-T Specialty LLC, pending the outcome of litigation.

In a changing marketplace, excess and surplus lines executives affirmed the importance of, and their commitment to, the wholesale distribution system but noted that the ability to innovate and develop new products will be critical to the survival of that distribution system.

Flagstone Reinsurance Holdings said losses from natural catastrophes in Australia during the first quarter are expected to be between $60 million and $80 million, while Validus Holdings said last week’s Christchurch, New Zealand earthquake could cost the company between $25 million and $50 million.

United Heartland recently launched a new public Web site, redesigned to better market their workers’ compensation services.

Warren Buffett bemoaned the continued competition of the soft market, making a critical assessment of chief executives who pursue market volume over underwriting profit as Berkshire Hathaway’s insurance business produced a profit of 38 percent.

What keeps E&S insurance executives up at night? That was the question posed to a three-member panel at the National Association of Professional Surplus Lines Offices (NAPSLO) Mid-Year Leadership Forum.

Buyers of directors and officers liability are worried about regulatory claims, according to results of a recently released survey in which more than three-quarters of participants ranked such claims among their top three claims concerns.

While debate rages over the future direction of the overall property and casualty insurance market, one recent broker survey of a niche market—architects and engineers professional liability—indicates rates could see upward momentum this year.